Short Interest in ASE Technology Holding Co., Ltd. (NYSE:ASX) Drops By 19.8%

ASE Technology Holding Co., Ltd. (NYSE:ASX) was the target of a large decline in short interest in March. As of March 13th, there was short interest totaling 4,127,656 shares, a decline of 19.8% from the February 26th total of 5,143,852 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 8,086,608 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Trading of ASE Technology

Several hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC grew its stake in shares of ASE Technology by 11.1% during the fourth quarter. Lazard Asset Management LLC now owns 20,010,829 shares of the semiconductor company’s stock valued at $322,174,000 after buying an additional 1,997,888 shares during the last quarter. Morgan Stanley boosted its stake in shares of ASE Technology by 14.3% during the fourth quarter. Morgan Stanley now owns 10,607,588 shares of the semiconductor company’s stock valued at $170,782,000 after purchasing an additional 1,330,580 shares during the period. Bank of America Corp DE boosted its stake in shares of ASE Technology by 9.6% during the third quarter. Bank of America Corp DE now owns 9,661,484 shares of the semiconductor company’s stock valued at $107,146,000 after purchasing an additional 846,300 shares during the period. UBS Group AG grew its holdings in shares of ASE Technology by 11.4% in the fourth quarter. UBS Group AG now owns 9,038,322 shares of the semiconductor company’s stock worth $145,517,000 after purchasing an additional 922,692 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its position in shares of ASE Technology by 50.9% in the second quarter. Rafferty Asset Management LLC now owns 7,392,190 shares of the semiconductor company’s stock valued at $76,361,000 after acquiring an additional 2,491,918 shares during the period. 6.80% of the stock is owned by institutional investors.

ASE Technology Stock Up 0.2%

Shares of NYSE:ASX opened at $21.54 on Monday. The firm has a market capitalization of $47.77 billion, a PE ratio of 37.13, a price-to-earnings-growth ratio of 0.89 and a beta of 1.41. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.28. ASE Technology has a 52-week low of $6.94 and a 52-week high of $25.28. The firm has a fifty day moving average of $21.69 and a 200 day moving average of $16.89.

ASE Technology (NYSE:ASX) last released its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The business 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 12.00% and a net margin of 6.31%. As a group, research analysts anticipate that ASE Technology will post 0.76 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ASX shares. Wall Street Zen downgraded shares of ASE Technology from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Research cut shares of ASE Technology from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ASE Technology currently has an average rating of “Hold”.

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.