ASE Technology (NYSE:ASX) Trading Up 4.1% – Time to Buy?

ASE Technology Holding Co., Ltd. (NYSE:ASX) shares shot up 4.1% during trading on Thursday . The company traded as high as $10.82 and last traded at $10.80. 286,830 shares traded hands during trading, a decline of 96% from the average session volume of 6,836,360 shares. The stock had previously closed at $10.37.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ASX shares. UBS Group raised shares of ASE Technology from a “neutral” rating to a “buy” rating in a research note on Tuesday. StockNews.com lowered shares of ASE Technology from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Finally, Morgan Stanley raised shares of ASE Technology from an “equal weight” rating to an “overweight” rating in a research report on Monday, September 16th.

ASE Technology Price Performance

The stock has a 50 day moving average of $9.74 and a two-hundred day moving average of $10.46. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.90 and a current ratio of 1.17. The firm has a market capitalization of $23.85 billion, a P/E ratio of 23.59, a P/E/G ratio of 0.65 and a beta of 1.22.

ASE Technology (NYSE:ASX) last issued its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. ASE Technology had a net margin of 5.38% and a return on equity of 9.90%. The business had revenue of $4.33 billion during the quarter. During the same quarter in the previous year, the firm posted $0.12 earnings per share. Sell-side analysts predict that ASE Technology Holding Co., Ltd. will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ASE Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC grew its holdings in ASE Technology by 89.7% in the 1st quarter. Acadian Asset Management LLC now owns 9,861,612 shares of the semiconductor company’s stock valued at $108,364,000 after buying an additional 4,664,258 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of ASE Technology by 35.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,884,868 shares of the semiconductor company’s stock worth $36,557,000 after acquiring an additional 1,009,795 shares during the last quarter. Lazard Asset Management LLC increased its position in ASE Technology by 2.8% during the first quarter. Lazard Asset Management LLC now owns 21,308,753 shares of the semiconductor company’s stock worth $234,182,000 after acquiring an additional 584,333 shares during the period. Driehaus Capital Management LLC raised its stake in ASE Technology by 105.3% during the 2nd quarter. Driehaus Capital Management LLC now owns 982,028 shares of the semiconductor company’s stock valued at $11,215,000 after purchasing an additional 503,765 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in ASE Technology by 528.5% in the 2nd quarter. Squarepoint Ops LLC now owns 478,766 shares of the semiconductor company’s stock valued at $5,468,000 after purchasing an additional 402,585 shares during the period. 6.80% of the stock is owned by institutional investors and hedge funds.

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.