ASE Technology (NYSE:ASX) Stock Sees Unusually High Call Option Buying

ASE Technology Holding Co., Ltd. (NYSE:ASX) was the target of unusually large options trading on Monday. Investors bought 55,471 call options on the stock. This is an increase of 719% compared to the typical daily volume of 6,771 call options.

Analysts Set New Price Targets

Several research analysts recently weighed in on ASX shares. Zacks Research upgraded shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 22nd. Weiss Ratings upgraded ASE Technology from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday. Finally, Wall Street Zen lowered shares of ASE Technology from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to MarketBeat.com, ASE Technology has a consensus rating of “Buy”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd boosted its position in ASE Technology by 180,900.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,810 shares of the semiconductor company’s stock worth $29,000 after buying an additional 1,809 shares during the period. Bessemer Group Inc. grew its stake in ASE Technology by 135.4% during the first quarter. Bessemer Group Inc. now owns 1,438 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 827 shares during the period. Ancora Advisors LLC bought a new stake in shares of ASE Technology in the 2nd quarter valued at $33,000. IFP Advisors Inc raised its holdings in shares of ASE Technology by 107.7% during the second quarter. IFP Advisors Inc now owns 947 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 491 shares during the period. Finally, Polaris Financial Partners bought a new position in shares of ASE Technology in the 3rd quarter worth $91,000. Institutional investors and hedge funds own 6.80% of the company’s stock.

ASE Technology Trading Down 3.6%

Shares of NYSE:ASX opened at $45.90 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.81 and a current ratio of 1.07. ASE Technology has a 52-week low of $11.77 and a 52-week high of $47.93. The company has a 50-day simple moving average of $40.61 and a 200 day simple moving average of $36.68. The company has a market capitalization of $102.59 billion, a P/E ratio of 53.36 and a beta of 1.66.

ASE Technology (NYSE:ASX) last announced its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.06. ASE Technology had a return on equity of 16.12% and a net margin of 8.52%. The business had revenue of $81.66 million during the quarter, compared to the consensus estimate of $5.96 billion. Sell-side analysts forecast that ASE Technology will post 1.26 earnings per share for the current year.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. is a Taiwan-based provider of semiconductor manufacturing services. Through its subsidiaries, the company offers outsourced semiconductor assembly and testing (OSAT) services, helping chip manufacturers package and test integrated circuits before they are incorporated into electronic products.

Its services include wafer probing, wafer bumping, flip-chip and wire-bond packaging, system-in-package and other advanced packaging technologies, as well as final testing and related engineering services.