ASE Technology (NYSE:ASX) Shares Gap Up – What’s Next?

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $39.93, but opened at $43.40. ASE Technology shares last traded at $44.1940, with a volume of 1,741,665 shares traded.

Analyst Ratings Changes

ASX has been the subject of several research analyst reports. Zacks Research upgraded shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Wall Street Zen upgraded shares of ASE Technology from a “hold” rating to a “buy” rating in a research report on Sunday, April 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of ASE Technology in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy”.

ASE Technology Trading Down 1.2%

The firm has a market capitalization of $95.01 billion, a price-to-earnings ratio of 62.84 and a beta of 1.69. The company has a current ratio of 1.15, a quick ratio of 0.89 and a debt-to-equity ratio of 0.53. The company has a fifty day moving average price of $37.75 and a 200-day moving average price of $27.41.

ASE Technology (NYSE:ASX) last released its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.32 billion. ASE Technology had a return on equity of 13.48% and a net margin of 7.03%. On average, equities research analysts predict that ASE Technology Holding Co., Ltd. will post 0.84 EPS for the current year.

ASE Technology Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, August 7th. Shareholders of record on Monday, July 6th will be given a $0.4171 dividend. This is a positive change from ASE Technology’s previous annual dividend of $0.36. This represents a yield of 96.0%. The ex-dividend date of this dividend is Monday, July 6th. ASE Technology’s payout ratio is presently 45.59%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Parallel Advisors LLC lifted its stake in shares of ASE Technology by 1.9% in the 4th quarter. Parallel Advisors LLC now owns 25,975 shares of the semiconductor company’s stock valued at $418,000 after purchasing an additional 482 shares during the last quarter. Commonwealth Equity Services LLC increased its position in ASE Technology by 5.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 11,223 shares of the semiconductor company’s stock worth $181,000 after buying an additional 589 shares during the last quarter. Vest Financial LLC increased its position in ASE Technology by 5.2% during the fourth quarter. Vest Financial LLC now owns 12,954 shares of the semiconductor company’s stock worth $209,000 after buying an additional 637 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of ASE Technology by 0.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 120,598 shares of the semiconductor company’s stock worth $1,942,000 after buying an additional 643 shares during the last quarter. Finally, Transamerica Financial Advisors LLC lifted its position in shares of ASE Technology by 24.8% in the fourth quarter. Transamerica Financial Advisors LLC now owns 3,435 shares of the semiconductor company’s stock worth $55,000 after buying an additional 683 shares during the last quarter. Institutional investors and hedge funds own 6.80% of the company’s stock.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. (NYSE: ASX), commonly referred to as ASE, is a Taiwan-based provider of semiconductor assembly and testing services. The company focuses on back-end semiconductor manufacturing and related services that prepare integrated circuits and other semiconductor devices for final use. Its core activities include advanced IC packaging, final testing, wafer probing, and related engineering and supply-chain support for semiconductor customers.

ASE offers a range of products and technical capabilities designed to meet increasingly complex packaging and system-in-package requirements.