ASE Technology (NYSE:ASX) Shares Gap Down to $11.33

ASE Technology Holding Co., Ltd. (NYSE:ASX) shares gapped down prior to trading on Tuesday . The stock had previously closed at $11.33, but opened at $10.99. ASE Technology shares last traded at $10.95, with a volume of 1,695,966 shares traded.

Analysts Set New Price Targets

ASX has been the subject of several research reports. StockNews.com upgraded shares of ASE Technology from a “hold” rating to a “buy” rating in a research report on Thursday, June 13th. Morgan Stanley downgraded ASE Technology from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, June 25th.

ASE Technology Price Performance

The firm has a market cap of $24.62 billion, a P/E ratio of 24.41, a PEG ratio of 0.62 and a beta of 1.21. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.19 and a quick ratio of 0.92. The stock’s 50-day simple moving average is $10.93 and its two-hundred day simple moving average is $10.27.

ASE Technology (NYSE:ASX) last issued its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). ASE Technology had a net margin of 5.41% and a return on equity of 10.09%. The firm had revenue of $4.24 billion for the quarter. During the same quarter last year, the firm earned $0.09 EPS. Equities research analysts forecast that ASE Technology Holding Co., Ltd. will post 0.62 earnings per share for the current fiscal year.

ASE Technology Cuts Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, August 2nd. Stockholders of record on Tuesday, July 2nd will be paid a dividend of $0.3209 per share. The ex-dividend date is Tuesday, July 2nd. This represents a dividend yield of 2.2%. ASE Technology’s dividend payout ratio is 50.00%.

Hedge Funds Weigh In On ASE Technology

Several hedge funds have recently bought and sold shares of the business. Principal Securities Inc. bought a new stake in shares of ASE Technology during the fourth quarter worth $41,000. GAMMA Investing LLC bought a new stake in ASE Technology during the 4th quarter valued at about $52,000. BetterWealth LLC bought a new position in ASE Technology in the 4th quarter worth about $94,000. Capital Management Associates Inc purchased a new position in shares of ASE Technology during the fourth quarter worth approximately $94,000. Finally, Summit Global Investments bought a new stake in shares of ASE Technology during the fourth quarter valued at approximately $97,000. Institutional investors own 6.80% of the company’s stock.

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.