ASE Technology (NYSE:ASX) Shares Gap Up – Here’s Why

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $7.86, but opened at $8.22. ASE Technology shares last traded at $8.24, with a volume of 1,160,132 shares traded.

ASE Technology Stock Performance

The company has a quick ratio of 0.93, a current ratio of 1.19 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average of $9.68 and a 200 day moving average of $9.94. The company has a market capitalization of $17.96 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 0.47 and a beta of 1.21.

ASE Technology (NYSE:ASX) last posted its earnings results on Thursday, February 13th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). ASE Technology had a net margin of 5.44% and a return on equity of 9.86%. On average, sell-side analysts predict that ASE Technology Holding Co., Ltd. will post 0.76 earnings per share for the current year.

Institutional Trading of ASE Technology

Several hedge funds have recently made changes to their positions in ASX. Steward Partners Investment Advisory LLC increased its stake in ASE Technology by 166.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,694 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 2,307 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of ASE Technology by 42.5% in the 4th quarter. Allworth Financial LP now owns 3,700 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 1,104 shares during the period. R Squared Ltd bought a new position in shares of ASE Technology during the 4th quarter valued at approximately $51,000. Wilmington Savings Fund Society FSB purchased a new stake in ASE Technology during the 3rd quarter valued at $77,000. Finally, Whipplewood Advisors LLC bought a new stake in ASE Technology in the fourth quarter worth $93,000. 6.80% of the stock is currently owned by hedge funds and other institutional investors.

About ASE Technology

ASE Technology Holding Co, Ltd., together with its subsidiaries, provides semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, Asia, Europe, and internationally. It develops, constructs, sells, leases, and manages real estate properties; produces substrates; offers information software, equipment leasing, investment advisory, and warehousing management services; commercial complex, after-sales, and support services; manages parking lot services; processes and sells computer and communication peripherals, electronic components, telecommunications equipment, and motherboards; and imports and exports goods and technology.