ASE Technology (NYSE:ASX) Shares Down 3.3% – Here’s Why

Shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) were down 3.3% on Wednesday . The stock traded as low as $9.44 and last traded at $9.44. Approximately 481,262 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 6,789,328 shares. The stock had previously closed at $9.76.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. StockNews.com cut shares of ASE Technology from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Morgan Stanley raised shares of ASE Technology from an “equal weight” rating to an “overweight” rating in a research note on Monday, September 16th. Finally, UBS Group raised shares of ASE Technology from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 15th.

ASE Technology Trading Down 3.2 %

The company has a market capitalization of $20.74 billion, a PE ratio of 21.69, a P/E/G ratio of 0.70 and a beta of 1.22. The firm’s 50 day moving average is $9.94 and its 200 day moving average is $10.33. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.18 and a quick ratio of 0.89.

ASE Technology (NYSE:ASX) last released its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). The company had revenue of $4.96 billion during the quarter. ASE Technology had a net margin of 5.47% and a return on equity of 10.05%. During the same quarter in the prior year, the business posted $0.13 EPS. As a group, equities analysts predict that ASE Technology Holding Co., Ltd. will post 0.48 EPS for the current year.

Institutional Trading of ASE Technology

Several large investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of ASE Technology during the 3rd quarter valued at $77,000. TT International Asset Management LTD boosted its holdings in shares of ASE Technology by 14.8% during the 3rd quarter. TT International Asset Management LTD now owns 2,063,535 shares of the semiconductor company’s stock valued at $20,140,000 after buying an additional 265,767 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of ASE Technology by 20.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 18,701 shares of the semiconductor company’s stock valued at $183,000 after buying an additional 3,186 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of ASE Technology during the 3rd quarter valued at $767,000. Finally, Y Intercept Hong Kong Ltd boosted its holdings in shares of ASE Technology by 5.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 116,423 shares of the semiconductor company’s stock valued at $1,136,000 after buying an additional 6,011 shares in the last quarter. Institutional investors own 6.80% of the company’s stock.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd., together with its subsidiaries, provides semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, Asia, Europe, and internationally. It develops, constructs, sells, leases, and manages real estate properties; produces substrates; offers information software, equipment leasing, investment advisory, and warehousing management services; commercial complex, after-sales, and support services; manages parking lot services; processes and sells computer and communication peripherals, electronic components, telecommunications equipment, and motherboards; and imports and exports goods and technology.