ASE Technology (NYSE:ASX) Shares Gap Up – Time to Buy?

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $39.93, but opened at $43.40. ASE Technology shares last traded at $44.1940, with a volume of 1,741,665 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Zacks Research raised shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of ASE Technology in a research note on Tuesday, June 9th. Finally, Wall Street Zen upgraded shares of ASE Technology from a “hold” rating to a “buy” rating in a report on Sunday, April 5th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

ASE Technology Stock Up 10.5%

The firm has a 50 day moving average of $37.24 and a 200 day moving average of $27.10. The firm has a market cap of $98.15 billion, a price-to-earnings ratio of 64.71 and a beta of 1.69. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 0.53.

ASE Technology (NYSE:ASX) last issued its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. ASE Technology had a return on equity of 13.48% and a net margin of 7.03%.The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.32 billion. As a group, sell-side analysts predict that ASE Technology Holding Co., Ltd. will post 0.84 earnings per share for the current year.

ASE Technology Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, August 7th. Stockholders of record on Monday, July 6th will be paid a $0.4171 dividend. The ex-dividend date is Monday, July 6th. This represents a dividend yield of 96.0%. This is an increase from ASE Technology’s previous annual dividend of $0.36. ASE Technology’s dividend payout ratio (DPR) is presently 45.59%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC grew its holdings in ASE Technology by 1.9% in the fourth quarter. Parallel Advisors LLC now owns 25,975 shares of the semiconductor company’s stock worth $418,000 after purchasing an additional 482 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of ASE Technology by 5.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 11,223 shares of the semiconductor company’s stock valued at $181,000 after purchasing an additional 589 shares during the period. Vest Financial LLC raised its holdings in shares of ASE Technology by 5.2% during the fourth quarter. Vest Financial LLC now owns 12,954 shares of the semiconductor company’s stock valued at $209,000 after purchasing an additional 637 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of ASE Technology by 0.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 120,598 shares of the semiconductor company’s stock worth $1,942,000 after purchasing an additional 643 shares in the last quarter. Finally, Transamerica Financial Advisors LLC boosted its position in shares of ASE Technology by 24.8% during the 4th quarter. Transamerica Financial Advisors LLC now owns 3,435 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 683 shares in the last quarter. 6.80% of the stock is owned by institutional investors.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. (NYSE: ASX), commonly referred to as ASE, is a Taiwan-based provider of semiconductor assembly and testing services. The company focuses on back-end semiconductor manufacturing and related services that prepare integrated circuits and other semiconductor devices for final use. Its core activities include advanced IC packaging, final testing, wafer probing, and related engineering and supply-chain support for semiconductor customers.

ASE offers a range of products and technical capabilities designed to meet increasingly complex packaging and system-in-package requirements.