ASE Technology (NYSE:ASX) Shares Gap Up - Still a Buy?

ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $10.64, but opened at $11.08. ASE Technology shares last traded at $11.02, with a volume of 410,207 shares.

Analysts Set New Price Targets

ASX has been the subject of a number of research reports. StockNews.com downgraded ASE Technology from a "buy" rating to a "hold" rating in a research report on Friday, September 20th. Morgan Stanley upgraded shares of ASE Technology from an "equal weight" rating to an "overweight" rating in a report on Monday, September 16th. Finally, UBS Group upgraded shares of ASE Technology from a "neutral" rating to a "buy" rating in a research note on Tuesday, October 15th.

ASE Technology Price Performance

The company has a market cap of $23.84 billion, a PE ratio of 24.13, a P/E/G ratio of 0.71 and a beta of 1.19. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.18 and a quick ratio of 0.89. The company has a 50-day moving average price of $9.95 and a two-hundred day moving average price of $10.13.

ASE Technology (NYSE:ASX - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). The firm had revenue of $4.96 billion during the quarter. ASE Technology had a net margin of 5.47% and a return on equity of 10.05%. During the same period last year, the business earned $0.13 earnings per share. Sell-side analysts expect that ASE Technology Holding Co., Ltd. will post 0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ASX. GAMMA Investing LLC increased its holdings in ASE Technology by 28.0% during the 4th quarter. GAMMA Investing LLC now owns 9,521 shares of the semiconductor company's stock worth $96,000 after purchasing an additional 2,083 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of ASE Technology by 103.8% in the third quarter. JPMorgan Chase & Co. now owns 3,571,208 shares of the semiconductor company's stock worth $34,855,000 after buying an additional 1,818,753 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in ASE Technology in the third quarter valued at $77,000. TT International Asset Management LTD boosted its stake in ASE Technology by 14.8% during the 3rd quarter. TT International Asset Management LTD now owns 2,063,535 shares of the semiconductor company's stock valued at $20,140,000 after acquiring an additional 265,767 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in ASE Technology by 20.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 18,701 shares of the semiconductor company's stock worth $183,000 after acquiring an additional 3,186 shares in the last quarter. Institutional investors and hedge funds own 6.80% of the company's stock.

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.