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.

Shares of ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report) 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 Stock Down 0.5%

The business has a fifty day simple moving average of $10.25 and a two-hundred day simple moving average of $9.72. 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 company has a market cap of $24.39 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 0.62 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). ASE Technology had a net margin of 5.48% and a return on equity of 10.33%. The firm had revenue of $5.07 billion during the quarter, compared to analysts' expectations of $150.44 billion. As a group, equities research analysts predict 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 declared an annual dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 2nd were issued a dividend of $0.359 per share. The ex-dividend date was Wednesday, July 2nd. This represents a dividend yield of 230.0%. This is a boost from ASE Technology's previous annual dividend of $0.32. ASE Technology's payout ratio is presently 55.32%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC increased its position in shares of ASE Technology by 35.0% during the 1st quarter. Acadian Asset Management LLC now owns 10,973,038 shares of the semiconductor company's stock worth $96,110,000 after purchasing an additional 2,842,631 shares during the last quarter. Bank of America Corp DE grew its position in shares of ASE Technology by 18.8% during the second quarter. Bank of America Corp DE now owns 8,815,184 shares of the semiconductor company's stock worth $91,061,000 after buying an additional 1,397,206 shares in the last quarter. Rafferty Asset Management LLC grew its position in shares of ASE Technology by 50.9% during the second quarter. Rafferty Asset Management LLC now owns 7,392,190 shares of the semiconductor company's stock worth $76,361,000 after buying an additional 2,491,918 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of ASE Technology by 15.6% during the first quarter. Goldman Sachs Group Inc. now owns 5,775,272 shares of the semiconductor company's stock worth $50,591,000 after buying an additional 780,651 shares in the last quarter. Finally, Schroder Investment Management Group grew its position in shares of ASE Technology by 6.7% during the second quarter. Schroder Investment Management Group now owns 5,245,480 shares of the semiconductor company's stock worth $54,186,000 after buying an additional 329,549 shares in the last quarter. Hedge funds and other 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.