ASE Technology (NYSE:ASX) Stock Price Down 3.3% – Should You Sell?

ASE Technology Holding Co., Ltd. (NYSE:ASX) shares were down 3.3% during mid-day trading 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 equities analysts have recently issued reports on ASX shares. UBS Group raised ASE Technology from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 15th. StockNews.com lowered ASE Technology from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. Finally, Morgan Stanley raised ASE Technology from an “equal weight” rating to an “overweight” rating in a report on Monday, September 16th.

ASE Technology Trading Down 3.2 %

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

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

Hedge Funds Weigh In On ASE Technology

Several large investors have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC bought a new stake in shares of ASE Technology in the 2nd quarter valued at about $43,000. Fifth Third Bancorp boosted its holdings in ASE Technology by 423.8% in the second quarter. Fifth Third Bancorp now owns 6,537 shares of the semiconductor company’s stock valued at $75,000 after purchasing an additional 5,289 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in ASE Technology in the third quarter valued at approximately $77,000. Werba Rubin Papier Wealth Management acquired a new position in ASE Technology in the third quarter valued at approximately $100,000. Finally, Leo Wealth LLC purchased a new stake in shares of ASE Technology in the third quarter valued at approximately $114,000. 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.