ASE Technology (NYSE:ASX) Shares Gap Up – Still a Buy?

ASE Technology Holding Co., Ltd. (NYSE:ASX) shares gapped up prior to trading on Friday . The stock had previously closed at $32.64, but opened at $35.10. ASE Technology shares last traded at $34.5090, with a volume of 1,597,000 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Wall Street Zen upgraded shares of ASE Technology from a “hold” rating to a “buy” rating in a report on Sunday, April 5th. Zacks Research upgraded shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, ASE Technology has a consensus rating of “Buy”.

ASE Technology Stock Performance

The company has a current ratio of 1.15, a quick ratio of 0.89 and a debt-to-equity ratio of 0.53. The company’s 50 day moving average is $27.11 and its 200-day moving average is $21.31. The company has a market capitalization of $77.33 billion, a P/E ratio of 51.14, a price-to-earnings-growth ratio of 0.63 and a beta of 1.68.

ASE Technology (NYSE:ASX) last issued its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.03. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.32 billion. ASE Technology had a net margin of 7.03% and a return on equity of 13.48%. Equities analysts anticipate that ASE Technology Holding Co., Ltd. will post 1.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Parallel Advisors LLC increased its stake in ASE Technology by 1.9% during the 4th quarter. Parallel Advisors LLC now owns 25,975 shares of the semiconductor company’s stock valued at $418,000 after purchasing an additional 482 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in ASE Technology by 5.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,223 shares of the semiconductor company’s stock valued at $181,000 after purchasing an additional 589 shares in the last quarter. Vest Financial LLC increased its stake in ASE Technology by 5.2% during the 4th quarter. Vest Financial LLC now owns 12,954 shares of the semiconductor company’s stock valued at $209,000 after purchasing an additional 637 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in ASE Technology by 0.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 120,598 shares of the semiconductor company’s stock valued at $1,942,000 after purchasing an additional 643 shares in the last quarter. Finally, Frank Rimerman Advisors LLC increased its stake in ASE Technology by 1.8% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 36,780 shares of the semiconductor company’s stock valued at $408,000 after purchasing an additional 650 shares in the last quarter. 6.80% of the stock is currently owned by institutional investors.

About ASE Technology

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.