ASE Technology (NYSE:ASX) Shares Down 3.1% - Here's What Happened

ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report)'s stock price fell 3.1% during mid-day trading on Friday . The stock traded as low as $10.36 and last traded at $10.41. 787,708 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 6,833,682 shares. The stock had previously closed at $10.74.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. StockNews.com downgraded ASE Technology from a "buy" rating to a "hold" rating in a research note on Friday, September 20th. UBS Group upgraded shares of ASE Technology from a "neutral" rating to a "buy" rating in a research report on Tuesday. Finally, Morgan Stanley upgraded shares of ASE Technology from an "equal weight" rating to an "overweight" rating in a report on Monday, September 16th.

ASE Technology Stock Down 3.3 %

The stock has a market capitalization of $22.78 billion, a price-to-earnings ratio of 22.50, a P/E/G ratio of 0.65 and a beta of 1.22. The business has a 50-day moving average of $9.80 and a 200-day moving average of $10.46. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.90 and a current ratio of 1.17.

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

Hedge Funds Weigh In On ASE Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its holdings in ASE Technology by 35.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,884,868 shares of the semiconductor company's stock worth $36,557,000 after buying an additional 1,009,795 shares in the last quarter. Banque Cantonale Vaudoise boosted its holdings in ASE Technology by 350.9% in the first quarter. Banque Cantonale Vaudoise now owns 57,117 shares of the semiconductor company's stock valued at $628,000 after purchasing an additional 44,451 shares during the period. Park Avenue Securities LLC boosted its stake in shares of ASE Technology by 37.8% in the 1st quarter. Park Avenue Securities LLC now owns 48,923 shares of the semiconductor company's stock valued at $538,000 after buying an additional 13,415 shares during the period. Inscription Capital LLC acquired a new position in shares of ASE Technology during the first quarter worth about $200,000. Finally, Aprio Wealth Management LLC increased its stake in shares of ASE Technology by 9.5% during the first quarter. Aprio Wealth Management LLC now owns 32,699 shares of the semiconductor company's stock worth $359,000 after buying an additional 2,849 shares during the period. 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.