ASE Technology (NYSE:ASX) Shares Gap Down - Should You Sell?

Key Points

• ASE Technology’s shares opened at $11.08 after previously closing at $11.51, with a significant trading volume of 1,356,726 shares.
• The company recently reported an earnings per share (EPS) of $0.11, missing analysts' expectations of $0.14, with quarterly revenue at $5.07 billion.
• ASE Technology announced an increased annual dividend of $0.359 per share, representing a dividend yield of 230.0%, up from their previous dividend of $0.32.

ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $11.51, but opened at $11.08. ASE Technology shares last traded at $11.13, with a volume of 1,356,726 shares trading hands.

ASE Technology Price Performance

The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $10.18 and a 200 day simple moving average of $9.70. The stock has a market capitalization of $24.69 billion, a P/E ratio of 23.82, a price-to-earnings-growth ratio of 0.59 and a beta of 1.34.

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

ASE Technology Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 2nd were issued a dividend of $0.359 per share. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a yield of 230.0%. This is an increase from ASE Technology's previous annual dividend of $0.32. ASE Technology's dividend payout ratio is presently 55.32%.

Institutional Trading of ASE Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its holdings in ASE Technology by 154.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,746 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 1,666 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of ASE Technology by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 3,590 shares of the semiconductor company's stock worth $31,000 after buying an additional 1,795 shares during the last quarter. TT International Asset Management LTD purchased a new position in shares of ASE Technology in the 1st quarter worth approximately $39,000. WealthCollab LLC boosted its stake in shares of ASE Technology by 55.2% in the 2nd quarter. WealthCollab LLC now owns 4,850 shares of the semiconductor company's stock worth $50,000 after buying an additional 1,726 shares during the last quarter. Finally, MAI Capital Management boosted its stake in shares of ASE Technology by 2,409.6% in the 2nd quarter. MAI Capital Management now owns 4,969 shares of the semiconductor company's stock worth $51,000 after buying an additional 4,771 shares during the last quarter. 6.80% of the stock is 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.

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