Short Interest in ASE Technology Holding Co., Ltd. (NYSE:ASX) Declines By 43.4%

ASE Technology Holding Co., Ltd. (NYSE:ASX) was the recipient of a large decline in short interest in May. As of May 29th, there was short interest totaling 9,129,449 shares, a decline of 43.4% from the May 14th total of 16,115,984 shares. Based on an average daily trading volume, of 10,173,062 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.5% of the company’s stock are short sold.

Wall Street Analyst Weigh In

ASX has been the topic of several analyst reports. Zacks Research raised shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ASE Technology in a report on Tuesday, June 9th. Finally, Wall Street Zen raised shares of ASE Technology from a “hold” rating to a “buy” rating in a report on Sunday, April 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC increased its holdings in shares of ASE Technology by 1.9% during the fourth quarter. Parallel Advisors LLC now owns 25,975 shares of the semiconductor company’s stock worth $418,000 after purchasing an additional 482 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of ASE Technology by 5.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 11,223 shares of the semiconductor company’s stock worth $181,000 after purchasing an additional 589 shares during the period. Vest Financial LLC increased its holdings in shares of ASE Technology by 5.2% during the fourth quarter. Vest Financial LLC now owns 12,954 shares of the semiconductor company’s stock worth $209,000 after purchasing an additional 637 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of ASE Technology by 0.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 120,598 shares of the semiconductor company’s stock worth $1,942,000 after purchasing an additional 643 shares during the period. Finally, Transamerica Financial Advisors LLC increased its holdings in shares of ASE Technology by 24.8% during the fourth quarter. Transamerica Financial Advisors LLC now owns 3,435 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 683 shares during the period. 6.80% of the stock is owned by institutional investors.

ASE Technology Stock Performance

ASE Technology stock traded up $0.37 during trading hours on Monday, hitting $38.49. The company had a trading volume of 11,441,275 shares, compared to its average volume of 10,881,056. The firm has a market cap of $85.59 billion, a PE ratio of 56.61, a PEG ratio of 0.76 and a beta of 1.72. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.15 and a quick ratio of 0.89. ASE Technology has a one year low of $9.30 and a one year high of $41.10. The firm has a 50-day moving average of $32.43 and a 200 day moving average of $24.01.

ASE Technology (NYSE:ASX) last released its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.03. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.32 billion. ASE Technology had a net margin of 7.03% and a return on equity of 13.48%. On average, sell-side analysts expect that ASE Technology will post 1.05 earnings per share for the current year.

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.