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

Key Points

• Shares gapped up Monday, opening at $26.01 vs a prior close of $24.84 and last trading at $26.18 (about a 6% move) on roughly 1.5 million shares.
• Analyst activity picked up: Wall Street Zen upgraded ASE to a Buy and Zacks moved it to Hold from Strong Sell, but the consensus remains an overall "Hold" (1 Buy, 2 Hold).
• Q4 results showed an EPS beat ($0.21 vs $0.20) but a revenue miss ($5.22B vs $5.47B); the stock trades at a P/E of 45.41 with a market cap of about $58.4 billion.

Shares of ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $24.84, but opened at $26.01. ASE Technology shares last traded at $26.18, with a volume of 1,500,606 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wall Street Zen raised ASE Technology from a "hold" rating to a "buy" rating in a research report on Sunday, April 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of ASE Technology in a research report on Wednesday, January 21st. Finally, Zacks Research raised ASE Technology from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold".

ASE Technology Trading Up 6.0%

The stock has a fifty day moving average of $22.35 and a 200 day moving average of $17.69. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.26. The company has a market capitalization of $58.41 billion, a PE ratio of 45.41, a PEG ratio of 1.03 and a beta of 1.46.

ASE Technology (NYSE:ASX - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.01. ASE Technology had a return on equity of 12.06% and a net margin of 6.31%.The company had revenue of $5.22 billion for the quarter, compared to analysts' expectations of $5.47 billion. As a group, sell-side analysts predict that ASE Technology Holding Co., Ltd. will post 0.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC purchased a new position in ASE Technology in the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of ASE Technology by 180,900.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,810 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 1,809 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of ASE Technology during the 4th quarter worth approximately $32,000. UMB Bank n.a. purchased a new stake in shares of ASE Technology during the 4th quarter worth approximately $32,000. Finally, SBI Securities Co. Ltd. raised its holdings in shares of ASE Technology by 256.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,495 shares of the semiconductor company's stock worth $40,000 after acquiring an additional 1,795 shares in the last quarter. 6.80% of the stock is owned by hedge funds and other institutional investors.

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.

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