ASE Technology (NYSE:ASX) Shares Gap Down - Should You Sell?

Shares of ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $7.42, but opened at $7.00. ASE Technology shares last traded at $7.09, with a volume of 2,579,477 shares changing hands.

ASE Technology Price Performance

The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.93 and a current ratio of 1.19. The business has a 50 day moving average price of $9.65 and a 200-day moving average price of $9.92. The company has a market capitalization of $18.15 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 0.47 and a beta of 1.21.

ASE Technology (NYSE:ASX - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.03). ASE Technology had a net margin of 5.44% and a return on equity of 9.86%. Research analysts predict that ASE Technology Holding Co., Ltd. will post 0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. TIAA Trust National Association raised its holdings in shares of ASE Technology by 7.6% during the fourth quarter. TIAA Trust National Association now owns 14,846 shares of the semiconductor company's stock valued at $149,000 after purchasing an additional 1,054 shares during the period. Allworth Financial LP raised its stake in ASE Technology by 42.5% during the 4th quarter. Allworth Financial LP now owns 3,700 shares of the semiconductor company's stock worth $41,000 after buying an additional 1,104 shares during the period. Franklin Resources Inc. boosted its holdings in ASE Technology by 9.1% in the fourth quarter. Franklin Resources Inc. now owns 15,526 shares of the semiconductor company's stock worth $156,000 after acquiring an additional 1,290 shares in the last quarter. United Capital Financial Advisors LLC grew its stake in ASE Technology by 12.2% in the fourth quarter. United Capital Financial Advisors LLC now owns 12,298 shares of the semiconductor company's stock valued at $124,000 after acquiring an additional 1,338 shares during the period. Finally, Aaron Wealth Advisors LLC grew its stake in ASE Technology by 5.9% in the fourth quarter. Aaron Wealth Advisors LLC now owns 24,422 shares of the semiconductor company's stock valued at $246,000 after acquiring an additional 1,370 shares during the period. 6.80% of the stock is owned by institutional investors.

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ASE Technology Company Profile

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.