ASE Technology (NYSE:ASX) Reaches New 1-Year Low - Here's Why

ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report)'s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $8.46 and last traded at $8.72, with a volume of 10594287 shares. The stock had previously closed at $8.70.

ASE Technology Stock Performance

The firm has a market capitalization of $20.04 billion, a P/E ratio of 20.18, a P/E/G ratio of 0.47 and a beta of 1.21. 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 stock's 50 day moving average is $9.00 and its two-hundred day moving average is $9.77.

ASE Technology (NYSE:ASX - Get Free Report) last announced its earnings results on Wednesday, April 30th. The semiconductor company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). ASE Technology had a return on equity of 9.86% and a net margin of 5.44%. The company had revenue of $4.59 billion for the quarter, compared to analyst estimates of $143.62 billion. As a group, equities analysts anticipate that ASE Technology Holding Co., Ltd. will post 0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ASE Technology

A number of large investors have recently made changes to their positions in ASX. Fisher Asset Management LLC boosted its holdings 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 valued at $157,843,000 after purchasing an additional 507,008 shares during the period. JPMorgan Chase & Co. grew its position in 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 buying an additional 1,290,605 shares in the last quarter. Cullen Capital Management LLC increased 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 worth $44,551,000 after acquiring an additional 14,831 shares during the period. Schroder Investment Management Group lifted its position in shares of 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 acquiring an additional 12,767 shares during the period. Finally, Barclays PLC boosted its stake in shares of ASE Technology by 24.6% in the 4th quarter. Barclays PLC now owns 3,094,383 shares of the semiconductor company's stock valued at $31,160,000 after purchasing an additional 611,751 shares in the last quarter. 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.