ASE Technology (NYSE:ASX) Shares Gap Up – Should You Buy?

ASE Technology Holding Co., Ltd. (NYSE:ASX) shares gapped up prior to trading on Monday . The stock had previously closed at $37.39, but opened at $39.05. ASE Technology shares last traded at $38.7460, with a volume of 1,997,127 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ASX shares. Zacks Research upgraded ASE Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ASE Technology in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy”.

ASE Technology Stock Performance

The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.54. The firm has a 50-day simple moving average of $38.92 and a 200 day simple moving average of $30.36. The company has a market cap of $84.33 billion, a price-to-earnings ratio of 44.11 and a beta of 1.71.

ASE Technology (NYSE:ASX) last announced its earnings results on Thursday, July 30th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. The business had revenue of $81.66 million for the quarter, compared to analyst estimates of $5.96 billion. ASE Technology had a net margin of 8.52% and a return on equity of 16.12%. On average, sell-side analysts predict that ASE Technology Holding Co., Ltd. will post 1.21 earnings per share for the current fiscal year.

ASE Technology Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, August 7th. Shareholders of record on Monday, July 6th were paid a $0.4171 dividend. This is a boost from ASE Technology’s previous annual dividend of $0.36. This represents a yield of 96.0%. The ex-dividend date was Monday, July 6th. ASE Technology’s dividend payout ratio (DPR) is presently 34.88%.

Institutional Investors Weigh In On ASE Technology

Several hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd grew its holdings in shares of ASE Technology by 180,900.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,810 shares of the semiconductor company’s stock worth $29,000 after buying an additional 1,809 shares during the last quarter. Bessemer Group Inc. raised its stake in ASE Technology by 135.4% during the 1st quarter. Bessemer Group Inc. now owns 1,438 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 827 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in ASE Technology during the 4th quarter valued at approximately $32,000. UMB Bank n.a. acquired a new stake in ASE Technology during the 4th quarter worth approximately $32,000. Finally, SBI Securities Co. Ltd. lifted its position in ASE Technology by 256.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,495 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 1,795 shares during the period. Institutional investors and hedge funds own 6.80% of the company’s stock.

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.