ASE Technology (NYSE:ASX) Stock Price Down 3.1% – Here’s Why

ASE Technology Holding Co., Ltd. (NYSE:ASX) shares traded down 3.1% on Friday . The stock traded as low as $10.36 and last traded at $10.41. 787,708 shares changed 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.

Analyst Upgrades and Downgrades

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

ASE Technology Trading Down 3.3 %

The stock has a market capitalization of $22.78 billion, a P/E ratio of 22.59, a PEG ratio of 0.65 and a beta of 1.22. The stock’s fifty day moving average price is $9.82 and its 200 day moving average price is $10.46. 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) last issued its earnings results on Thursday, July 25th. The semiconductor company reported $0.11 EPS for the quarter, hitting 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 business posted $0.12 earnings per share. Research analysts forecast that ASE Technology Holding Co., Ltd. will post 0.51 earnings per share for the current year.

Institutional Investors Weigh In On ASE Technology

Several hedge funds have recently made changes to their positions in ASX. Allspring Global Investments Holdings LLC raised its holdings in shares of ASE Technology by 585.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 109,813 shares of the semiconductor company’s stock valued at $1,072,000 after acquiring an additional 93,790 shares in the last quarter. Werba Rubin Papier Wealth Management bought a new stake in shares of ASE Technology in the 3rd quarter valued at about $100,000. Blue Trust Inc. lifted its position in shares of ASE Technology by 86.5% in the 3rd quarter. Blue Trust Inc. now owns 160,119 shares of the semiconductor company’s stock worth $1,563,000 after purchasing an additional 74,278 shares during the period. Aaron Wealth Advisors LLC boosted its stake in shares of ASE Technology by 19.1% during the third quarter. Aaron Wealth Advisors LLC now owns 23,052 shares of the semiconductor company’s stock valued at $225,000 after purchasing an additional 3,701 shares in the last quarter. Finally, Creative Planning increased its holdings in ASE Technology by 93.2% during the third quarter. Creative Planning now owns 234,004 shares of the semiconductor company’s stock valued at $2,277,000 after buying an additional 112,879 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.