ASE Technology (NYSE:ASX) Shares Gap Down to $10.52

Shares of ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $10.52, but opened at $10.30. ASE Technology shares last traded at $10.36, with a volume of 450,976 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut ASE Technology from a "buy" rating to a "hold" rating in a report on Friday, April 26th.

ASE Technology Stock Performance

The firm has a fifty day moving average of $10.73 and a 200-day moving average of $9.57. The stock has a market capitalization of $22.60 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 0.59 and a beta of 1.26. The company has a quick ratio of 0.92, a current ratio of 1.19 and a debt-to-equity ratio of 0.37.

ASE Technology (NYSE:ASX - Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). The company had revenue of $4.24 billion for the quarter. ASE Technology had a return on equity of 10.09% and a net margin of 5.41%. During the same period last year, the firm earned $0.09 earnings per share. As a group, sell-side analysts anticipate that ASE Technology Holding Co., Ltd. will post 0.62 EPS for the current year.

Hedge Funds Weigh In On ASE Technology

Several hedge funds have recently bought and sold shares of ASX. Acadian Asset Management LLC grew its position in shares of ASE Technology by 89.7% in the first quarter. Acadian Asset Management LLC now owns 9,861,612 shares of the semiconductor company's stock valued at $108,364,000 after purchasing an additional 4,664,258 shares during the period. UBS Group AG grew its position in shares of ASE Technology by 16.4% in the third quarter. UBS Group AG now owns 11,456,224 shares of the semiconductor company's stock valued at $86,151,000 after purchasing an additional 1,612,295 shares during the period. Goldman Sachs Group Inc. grew its position in shares of ASE Technology by 35.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,884,868 shares of the semiconductor company's stock valued at $36,557,000 after purchasing an additional 1,009,795 shares during the period. Envestnet Asset Management Inc. grew its position in shares of ASE Technology by 37.0% in the third quarter. Envestnet Asset Management Inc. now owns 2,966,914 shares of the semiconductor company's stock valued at $22,311,000 after purchasing an additional 801,771 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of ASE Technology by 65.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,754,966 shares of the semiconductor company's stock valued at $13,197,000 after purchasing an additional 694,048 shares during the period. 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.