ASE Technology (NYSE:ASX) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

ASE Technology Holding Co., Ltd. (NYSE:ASX) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $33.56 and traded as low as $29.58. ASE Technology shares last traded at $29.6730, with a volume of 27,687,950 shares traded.

Analyst Ratings Changes

Several research firms have recently commented on ASX. Weiss Ratings raised shares of ASE Technology from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, October 9th. Wall Street Zen upgraded shares of ASE Technology from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Finally, Zacks Research raised shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat.com, ASE Technology presently has a consensus rating of “Strong Buy”.

ASE Technology Stock Performance

The company has a quick ratio of 0.88, a current ratio of 1.16 and a debt-to-equity ratio of 0.70. The firm has a market cap of $66.33 billion, a P/E ratio of 27.73 and a beta of 1.79. The business has a fifty day simple moving average of $41.44 and a 200-day simple moving average of $33.56.

ASE Technology (NYSE:ASX) last announced its earnings results on Thursday, October 29th. The semiconductor company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. ASE Technology had a net margin of 9.77% and a return on equity of 18.97%. The firm had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.30 billion. On average, sell-side analysts predict that ASE Technology Holding Co., Ltd. will post 1.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Ninety One UK Ltd boosted its stake in ASE Technology by 591.1% during the third quarter. Ninety One UK Ltd now owns 688,777 shares of the semiconductor company’s stock worth $30,623,000 after acquiring an additional 589,119 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of ASE Technology during the first quarter valued at approximately $10,436,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of ASE Technology during the first quarter valued at approximately $8,932,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of ASE Technology during the third quarter valued at approximately $15,461,000. Finally, Nykredit A S purchased a new position in shares of ASE Technology during the second quarter valued at approximately $14,247,000. 6.80% of the stock is owned by hedge funds and other institutional investors.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. is a Taiwan-based provider of semiconductor manufacturing services. Through its subsidiaries, the company offers outsourced semiconductor assembly and test services, helping chip designers and manufacturers package, assemble and evaluate integrated circuits after wafer fabrication.

Its services include wafer probing, wafer bumping, semiconductor packaging, final testing and advanced packaging technologies such as flip-chip, system-in-package and fan-out solutions.