Stock Traders Buy High Volume of Call Options on ASE Technology (NYSE:ASX)

ASE Technology Holding Co., Ltd. (NYSE:ASX) saw some unusual options trading activity on Monday. Investors purchased 55,471 call options on the stock. This is an increase of 719% compared to the typical daily volume of 6,771 call options.

Hedge Funds Weigh In On ASE Technology

A number of hedge funds have recently modified their holdings of the business. Ancora Advisors LLC acquired a new stake in ASE Technology during the 2nd quarter worth about $33,000. IFP Advisors Inc raised its position in shares of ASE Technology by 107.7% in the 2nd quarter. IFP Advisors Inc now owns 947 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 491 shares in the last quarter. Bessemer Group Inc. raised its position in shares of ASE Technology by 135.4% in the 1st quarter. Bessemer Group Inc. now owns 1,438 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 827 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of ASE Technology by 180,900.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,810 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 1,809 shares during the period. Finally, Polaris Financial Partners acquired a new position in shares of ASE Technology in the 3rd quarter valued at about $91,000. Institutional investors and hedge funds own 6.80% of the company’s stock.

ASE Technology Trading Down 0.5%

NYSE ASX traded down $0.23 during trading hours on Tuesday, reaching $47.30. The company’s stock had a trading volume of 3,222,011 shares, compared to its average volume of 8,477,423. The firm has a fifty day simple moving average of $40.43 and a 200-day simple moving average of $36.50. The stock has a market cap of $105.73 billion, a P/E ratio of 55.00 and a beta of 1.66. ASE Technology has a 52 week low of $11.21 and a 52 week high of $47.93. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.07 and a quick ratio of 0.81.

ASE Technology (NYSE:ASX) last posted its earnings results on Thursday, July 30th. The semiconductor company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.23 by $0.06. ASE Technology had a net margin of 8.52% and a return on equity of 16.12%. The business had revenue of $81.66 million for the quarter, compared to the consensus estimate of $5.96 billion. Equities analysts forecast that ASE Technology will post 1.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ASX shares. Zacks Research upgraded shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 22nd. Weiss Ratings raised shares of ASE Technology from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday. Finally, Wall Street Zen lowered shares of ASE Technology from a “buy” rating to a “hold” rating in a research report on Saturday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat.com, ASE Technology presently has an average rating of “Buy”.

About ASE Technology

ASE Technology Holding Co, Ltd. is a Taiwan-based provider of semiconductor manufacturing services. Through its subsidiaries, the company offers outsourced semiconductor assembly and testing (OSAT) services, helping chip manufacturers package and test integrated circuits before they are incorporated into electronic products.

Its services include wafer probing, wafer bumping, flip-chip and wire-bond packaging, system-in-package and other advanced packaging technologies, as well as final testing and related engineering services.