ASE Technology (NYSE:ASX) Shares Gap Up - Time to Buy?

Key Points

• ASE Technology's shares gapped up from $9.50 to $10.02 prior to trading on Friday, with the last trade at $9.96 and a trading volume of 1,700,454 shares.
• The company reported earnings per share of $0.11 for the last quarter, which missed analysts' estimates of $0.14, alongside a revenue of $5.07 billion.
• ASE Technology announced an increase in its annual dividend to $0.359 from the previous $0.32, representing a dividend yield of 230.0% and a payout ratio of 55.32%.

ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $9.50, but opened at $10.02. ASE Technology shares last traded at $9.96, with a volume of 1,700,454 shares traded.

ASE Technology Stock Up 5.5%

The business has a fifty day moving average of $10.19 and a 200 day moving average of $9.78. The stock has a market cap of $22.12 billion, a price-to-earnings ratio of 21.32, a P/E/G ratio of 0.56 and a beta of 1.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.79.

ASE Technology (NYSE:ASX - Get Free Report) last released 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). ASE Technology had a return on equity of 10.33% and a net margin of 5.48%. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $150.44 billion. On average, equities analysts predict that ASE Technology Holding Co., Ltd. will post 0.76 earnings per share for the current year.

ASE Technology Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 2nd will be issued a $0.359 dividend. This is an increase from ASE Technology's previous annual dividend of $0.32. This represents a yield of 230.0%. The ex-dividend date is Wednesday, July 2nd. ASE Technology's dividend payout ratio is currently 55.32%.

Hedge Funds Weigh In On ASE Technology

Hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in ASE Technology by 154.3% in the second quarter. Farther Finance Advisors LLC now owns 2,746 shares of the semiconductor company's stock worth $28,000 after buying an additional 1,666 shares during the last quarter. 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 valued at $31,000 after purchasing an additional 1,795 shares during the last quarter. TT International Asset Management LTD acquired a new position in ASE Technology during the first quarter valued at approximately $39,000. Brooklyn Investment Group grew its holdings in ASE Technology by 1,084.2% during the first quarter. Brooklyn Investment Group now owns 7,650 shares of the semiconductor company's stock valued at $67,000 after purchasing an additional 7,004 shares during the last quarter. Finally, SVB Wealth LLC acquired a new position in ASE Technology during the first quarter valued at approximately $68,000. Institutional investors and hedge funds 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.