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

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $7.86, but opened at $8.22. ASE Technology shares last traded at $8.24, with a volume of 1,160,132 shares changing hands.

ASE Technology Stock Performance

The business has a 50-day simple moving average of $9.68 and a 200 day simple moving average of $9.94. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.19 and a quick ratio of 0.93. The firm has a market cap of $17.96 billion, a PE ratio of 18.18, a PEG ratio of 0.47 and a beta of 1.21.

ASE Technology (NYSE:ASX) last released its earnings results on Thursday, February 13th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.03). ASE Technology had a return on equity of 9.86% and a net margin of 5.44%. Equities research analysts forecast that ASE Technology Holding Co., Ltd. will post 0.76 EPS for the current year.

Institutional Trading of ASE Technology

Several institutional investors and hedge funds have recently modified their holdings of the company. Fisher Asset Management LLC increased its stake in ASE Technology by 3.3% in the 4th quarter. Fisher Asset Management LLC now owns 15,674,623 shares of the semiconductor company’s stock worth $157,843,000 after buying an additional 507,008 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of ASE Technology by 36.1% during the fourth quarter. JPMorgan Chase & Co. now owns 4,861,813 shares of the semiconductor company’s stock worth $48,958,000 after purchasing an additional 1,290,605 shares in the last quarter. Cullen Capital Management LLC raised its stake in ASE Technology by 0.3% during the 4th quarter. Cullen Capital Management LLC now owns 4,424,100 shares of the semiconductor company’s stock valued at $44,551,000 after purchasing an additional 14,831 shares during the period. Schroder Investment Management Group raised its stake in ASE Technology by 0.3% during the 4th quarter. Schroder Investment Management Group now owns 4,371,391 shares of the semiconductor company’s stock valued at $44,370,000 after purchasing an additional 12,767 shares during the period. Finally, Barclays PLC lifted its holdings in ASE Technology by 24.6% in the 4th quarter. Barclays PLC now owns 3,094,383 shares of the semiconductor company’s stock worth $31,160,000 after purchasing an additional 611,751 shares in the last quarter. 6.80% of the stock is currently owned by institutional investors.

About ASE Technology

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.