ASE Technology (NYSE:ASX) Shares Gap Up - Should You Buy?

ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $10.16, but opened at $10.66. ASE Technology shares last traded at $10.61, with a volume of 759,028 shares trading hands.

Wall Street Analysts Forecast Growth

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

ASE Technology Stock Up 0.5 %

The stock's 50 day simple moving average is $9.71 and its two-hundred day simple moving average is $10.47. The firm has a market cap of $22.38 billion, a P/E ratio of 22.17, a P/E/G ratio of 0.65 and a beta of 1.22. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.17 and a quick ratio of 0.90.

ASE Technology (NYSE:ASX - Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.11. ASE Technology had a return on equity of 9.90% and a net margin of 5.38%. The business had revenue of $4.33 billion during the quarter. During the same quarter in the previous year, the firm posted $0.12 EPS. As a group, research analysts forecast that ASE Technology Holding Co., Ltd. will post 0.51 earnings per share for the current year.

Institutional Trading of ASE Technology

Institutional investors and hedge funds have recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new position in ASE Technology in the 2nd quarter valued at approximately $43,000. Fifth Third Bancorp boosted its position in shares of ASE Technology by 423.8% during the second quarter. Fifth Third Bancorp now owns 6,537 shares of the semiconductor company's stock valued at $75,000 after buying an additional 5,289 shares during the last quarter. Burns Matteson Capital Management LLC bought a new stake in ASE Technology in the 1st quarter worth about $107,000. Cetera Advisors LLC bought a new position in ASE Technology during the 1st quarter valued at about $120,000. Finally, CFO4Life Group LLC purchased a new stake in shares of ASE Technology during the 1st quarter valued at about $123,000. 6.80% of the stock is currently owned by institutional investors.

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.