ASE Technology (NYSE:ASX) Shares Gap Up – Should You Buy?

ASE Technology Holding Co., Ltd. (NYSE:ASX) shares gapped up before the market opened on Tuesday . The stock had previously closed at $10.64, but opened at $11.08. ASE Technology shares last traded at $11.02, with a volume of 410,207 shares trading hands.

Analyst Ratings Changes

ASX has been the topic of a number of recent research reports. UBS Group upgraded ASE Technology from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 15th. StockNews.com cut ASE Technology from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Finally, Morgan Stanley upgraded shares of ASE Technology from an “equal weight” rating to an “overweight” rating in a report on Monday, September 16th.

ASE Technology Stock Performance

The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.89 and a current ratio of 1.18. The company has a market cap of $23.62 billion, a P/E ratio of 23.91, a P/E/G ratio of 0.71 and a beta of 1.19. The firm has a 50 day moving average price of $9.96 and a 200-day moving average price of $10.13.

ASE Technology (NYSE:ASX) last announced its earnings results on Thursday, October 31st. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). ASE Technology had a return on equity of 10.05% and a net margin of 5.47%. The company had revenue of $4.96 billion for the quarter. During the same period in the prior year, the firm earned $0.13 earnings per share. On average, research analysts predict that ASE Technology Holding Co., Ltd. will post 0.48 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Candriam S.C.A. bought a new stake in shares of ASE Technology in the second quarter valued at approximately $230,000. Caprock Group LLC grew its position in ASE Technology by 34.6% in the 2nd quarter. Caprock Group LLC now owns 86,614 shares of the semiconductor company’s stock worth $989,000 after purchasing an additional 22,244 shares during the last quarter. Ballentine Partners LLC increased its holdings in shares of ASE Technology by 236.0% during the 2nd quarter. Ballentine Partners LLC now owns 39,711 shares of the semiconductor company’s stock worth $453,000 after purchasing an additional 27,893 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of ASE Technology during the second quarter valued at about $43,000. Finally, Choreo LLC bought a new stake in shares of ASE Technology in the second quarter valued at about $149,000. 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.