ASE Technology (NYSE:ASX) Share Price Passes Above 200-Day Moving Average - Time to Sell?

Shares of ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $10.18 and traded as high as $10.23. ASE Technology shares last traded at $10.07, with a volume of 8,563,371 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ASX shares. UBS Group upgraded shares of ASE Technology from a "neutral" rating to a "buy" rating in a report on Tuesday, October 15th. StockNews.com downgraded ASE Technology from a "buy" rating to a "hold" rating in a research report on Friday, September 20th. Finally, Morgan Stanley raised ASE Technology from an "equal weight" rating to an "overweight" rating in a research report on Monday, September 16th.

ASE Technology Stock Down 0.8 %

The stock has a market cap of $22.10 billion, a P/E ratio of 22.38, a price-to-earnings-growth ratio of 0.71 and a beta of 1.21. The company's fifty day moving average price is $9.94 and its 200-day moving average price is $10.17. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.89 and a current ratio of 1.18.

ASE Technology (NYSE:ASX - Get Free Report) last announced its earnings results 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 business had revenue of $4.96 billion for the quarter. ASE Technology had a net margin of 5.47% and a return on equity of 10.05%. During the same period in the previous year, the business earned $0.13 EPS. Equities analysts forecast that ASE Technology Holding Co., Ltd. will post 0.48 EPS for the current year.

Hedge Funds Weigh In On ASE Technology

Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in ASE Technology by 103.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,571,208 shares of the semiconductor company's stock worth $34,855,000 after purchasing an additional 1,818,753 shares during the period. Fisher Asset Management LLC increased its stake in shares of ASE Technology by 10.8% during the third quarter. Fisher Asset Management LLC now owns 15,167,615 shares of the semiconductor company's stock valued at $148,036,000 after buying an additional 1,481,424 shares during the period. Driehaus Capital Management LLC raised its holdings in shares of ASE Technology by 105.3% in the second quarter. Driehaus Capital Management LLC now owns 982,028 shares of the semiconductor company's stock valued at $11,215,000 after acquiring an additional 503,765 shares in the last quarter. Squarepoint Ops LLC lifted its stake in ASE Technology by 528.5% in the second quarter. Squarepoint Ops LLC now owns 478,766 shares of the semiconductor company's stock worth $5,468,000 after acquiring an additional 402,585 shares during the period. Finally, Citigroup Inc. grew its holdings in ASE Technology by 9.7% during the 3rd quarter. Citigroup Inc. now owns 4,323,059 shares of the semiconductor company's stock worth $42,193,000 after acquiring an additional 382,425 shares in the last quarter. Institutional investors 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.