ASE Technology (NYSE:ASX) Shares Gap Up – Here’s What Happened

ASE Technology Holding Co., Ltd. (NYSE:ASX) shares 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.

Analysts Set New Price Targets

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

ASE Technology Stock Up 6.0%

The firm 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. 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 fifty day moving average price of $22.35 and a 200-day moving average price of $17.69.

ASE Technology (NYSE:ASX) last released its earnings results on Thursday, February 5th. The semiconductor company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.47 billion. ASE Technology had a return on equity of 12.06% and a net margin of 6.31%. As a group, analysts expect that ASE Technology Holding Co., Ltd. will post 0.76 earnings per share for the current year.

Hedge Funds Weigh In On ASE Technology

Large investors have recently modified their holdings of the stock. Ninety One North America Inc. increased its position in shares of ASE Technology by 82.3% during the 3rd quarter. Ninety One North America Inc. now owns 496,795 shares of the semiconductor company’s stock valued at $5,509,000 after purchasing an additional 224,267 shares during the last quarter. American Century Companies Inc. increased its position in shares of ASE Technology by 15.6% during the 3rd quarter. American Century Companies Inc. now owns 3,674,784 shares of the semiconductor company’s stock valued at $40,753,000 after purchasing an additional 494,569 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of ASE Technology by 55.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,958,901 shares of the semiconductor company’s stock valued at $32,814,000 after purchasing an additional 1,057,046 shares during the last quarter. Capula Management Ltd increased its position in shares of ASE Technology by 200.4% during the 3rd quarter. Capula Management Ltd now owns 650,494 shares of the semiconductor company’s stock valued at $7,214,000 after purchasing an additional 433,965 shares during the last quarter. Finally, Cullen Capital Management LLC increased its position in shares of ASE Technology by 24.1% during the 2nd quarter. Cullen Capital Management LLC now owns 5,580,176 shares of the semiconductor company’s stock valued at $57,643,000 after purchasing an additional 1,082,941 shares during the last quarter. 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.