ASE Technology (NYSE:ASX) Shares Gap Up - What's Next?

Key Points

• ASE Technology's share price gapped up from $11.93 to $12.61 at market open, closing at $12.66 with significant trading volume.
• Weiss Ratings maintained a "hold (c)" rating for ASE Technology, contributing to a consensus rating of "Hold" among analysts.
• The company reported earnings of $0.11 EPS, missing the consensus estimate of $0.14 EPS, with a revenue of $5.07 billion for the last quarter.

ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $11.93, but opened at $12.61. ASE Technology shares last traded at $12.66, with a volume of 2,289,983 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of ASE Technology in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold".

ASE Technology Price Performance

The company's 50 day moving average is $10.77 and its 200 day moving average is $9.98. 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 stock has a market capitalization of $27.94 billion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 0.63 and a beta of 1.37.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its position 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 during the last quarter. Golden State Wealth Management LLC grew its position in ASE Technology by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 3,590 shares of the semiconductor company's stock worth $31,000 after purchasing an additional 1,795 shares during the last quarter. TT International Asset Management LTD purchased a new position in ASE Technology during the 1st quarter worth $39,000. WealthCollab LLC grew its position in ASE Technology by 55.2% during the 2nd quarter. WealthCollab LLC now owns 4,850 shares of the semiconductor company's stock worth $50,000 after purchasing an additional 1,726 shares during the last quarter. Finally, MAI Capital Management grew its position in ASE Technology by 2,409.6% during the 2nd quarter. MAI Capital Management now owns 4,969 shares of the semiconductor company's stock worth $51,000 after purchasing an additional 4,771 shares during 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., 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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