ASE Technology (NYSE:ASX) Stock Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• ASE Technology shares climbed above their 200-day moving average, trading as high as $40.29 versus the $31.20 average, with the stock last at $39.92.
• Analyst sentiment is broadly positive: Weiss Ratings upgraded the stock to “buy,” Zacks Research raised it to “strong buy,” and the overall consensus rating is “Buy.”
• The company exceeded quarterly EPS expectations, reporting $0.29 versus the $0.23 consensus estimate, while raising its annual dividend to $0.4171; institutional investors own 6.8% of outstanding shares.

ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $31.20 and traded as high as $40.29. ASE Technology shares last traded at $39.92, with a volume of 7,172,006 shares traded.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Weiss Ratings upgraded ASE Technology from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Zacks Research upgraded shares of ASE Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy".

ASE Technology Stock Performance

The company has a market cap of $88.76 billion, a price-to-earnings ratio of 46.42 and a beta of 1.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.07 and a quick ratio of 0.81. The stock has a 50-day moving average price of $39.11 and a 200 day moving average price of $31.20.

ASE Technology (NYSE:ASX - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.06. ASE Technology had a return on equity of 16.12% and a net margin of 8.52%.The business had revenue of $81.66 million during the quarter, compared to analyst estimates of $5.96 billion. As a group, analysts anticipate that ASE Technology Holding Co., Ltd. will post 1.21 EPS for the current fiscal year.

ASE Technology Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, August 7th. Shareholders of record on Monday, July 6th were paid a $0.4171 dividend. The ex-dividend date of this dividend was Monday, July 6th. This is an increase from ASE Technology's previous annual dividend of $0.36. This represents a yield of 96.0%. ASE Technology's payout ratio is presently 34.88%.

Institutional Investors Weigh In On ASE Technology

Several large investors have recently made changes to their positions in ASX. Lazard Asset Management LLC lifted its position in ASE Technology by 11.1% in the 4th quarter. Lazard Asset Management LLC now owns 20,010,829 shares of the semiconductor company's stock valued at $322,174,000 after acquiring an additional 1,997,888 shares in the last quarter. Morgan Stanley increased its holdings in ASE Technology by 14.3% during the 4th quarter. Morgan Stanley now owns 10,607,588 shares of the semiconductor company's stock worth $170,782,000 after purchasing an additional 1,330,580 shares in the last quarter. Bank of America Corp DE increased its holdings in ASE Technology by 9.6% during the 3rd quarter. Bank of America Corp DE now owns 9,661,484 shares of the semiconductor company's stock worth $107,146,000 after purchasing an additional 846,300 shares in the last quarter. UBS Group AG raised its stake in shares of ASE Technology by 11.4% in the 4th quarter. UBS Group AG now owns 9,038,322 shares of the semiconductor company's stock valued at $145,517,000 after purchasing an additional 922,692 shares during the period. Finally, Rafferty Asset Management LLC raised its stake in shares of ASE Technology by 50.9% in the 2nd quarter. Rafferty Asset Management LLC now owns 7,392,190 shares of the semiconductor company's stock valued at $76,361,000 after purchasing an additional 2,491,918 shares during the period. Institutional investors own 6.80% of the company's stock.

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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