ASE Technology (NYSE:ASX) Shares Gap Down - Here's What Happened

Key Points

• ASE Technology's shares gapped down before trading on Friday, opening at $11.15 from a previous close of $11.46, and last traded at $11.11 with a volume of 613,670 shares.
• The company reported $0.11 earnings per share for the last quarter, missing analyst expectations of $0.14, and had revenue of $5.07 billion against estimates of $150.44 billion.
• Institutional investor activity in ASE Technology has increased significantly, with MAI Capital Management boosting its holdings by 2,409.6% in the second quarter.

ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $11.46, but opened at $11.15. ASE Technology shares last traded at $11.11, with a volume of 613,670 shares trading hands.

ASE Technology Stock Performance

The business has a 50 day simple moving average of $10.45 and a 200 day simple moving average of $9.81. The company has a quick ratio of 0.79, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $24.67 billion, a PE ratio of 23.78, a PEG ratio of 0.65 and a beta of 1.34.

ASE Technology (NYSE:ASX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.03). The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $150.44 billion. ASE Technology had a net margin of 5.48% and a return on equity of 10.33%. Equities research analysts predict that ASE Technology Holding Co., Ltd. will post 0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in shares of ASE Technology by 154.3% in the second quarter. Farther Finance Advisors LLC now owns 2,746 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 1,666 shares during the period. Golden State Wealth Management LLC grew its holdings in ASE Technology by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 3,590 shares of the semiconductor company's stock worth $31,000 after acquiring an additional 1,795 shares during the period. TT International Asset Management LTD acquired a new stake in ASE Technology during the first quarter worth about $39,000. WealthCollab LLC grew its holdings in ASE Technology by 55.2% during the second quarter. WealthCollab LLC now owns 4,850 shares of the semiconductor company's stock worth $50,000 after acquiring an additional 1,726 shares during the period. Finally, MAI Capital Management grew its holdings in ASE Technology by 2,409.6% during the second quarter. MAI Capital Management now owns 4,969 shares of the semiconductor company's stock worth $51,000 after acquiring an additional 4,771 shares during the period. 6.80% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.