ASE Technology (NYSE:ASX) Shares Down 3.1% – Time to Sell?

Shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) traded down 3.1% on Friday . The company traded as low as $10.36 and last traded at $10.41. 787,708 shares were traded 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 Ratings Changes

A number of equities research analysts have issued reports on the company. Morgan Stanley upgraded ASE Technology from an “equal weight” rating to an “overweight” rating in a research note on Monday, September 16th. UBS Group upgraded shares of ASE Technology from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, StockNews.com cut shares of ASE Technology from a “buy” rating to a “hold” rating in a research note on Friday, September 20th.

ASE Technology Price Performance

The firm has a 50 day moving average price of $9.82 and a 200 day moving average price of $10.46. The stock has a market cap of $22.78 billion, a P/E ratio of 22.59, a P/E/G ratio of 0.65 and a beta of 1.22. The company has a quick ratio of 0.90, a current ratio of 1.17 and a debt-to-equity ratio of 0.33.

ASE Technology (NYSE:ASX) last posted its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.11 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 return on equity of 9.90% and a net margin of 5.38%. During the same period in the prior year, the business earned $0.12 earnings per share. On average, analysts forecast that ASE Technology Holding Co., Ltd. will post 0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASX. Lazard Asset Management LLC increased its holdings in shares of ASE Technology by 2.8% in the first quarter. Lazard Asset Management LLC now owns 21,308,753 shares of the semiconductor company’s stock worth $234,182,000 after purchasing an additional 584,333 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of ASE Technology by 89.7% during the 1st quarter. Acadian Asset Management LLC now owns 9,861,612 shares of the semiconductor company’s stock worth $108,364,000 after acquiring an additional 4,664,258 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of 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 valued at $36,557,000 after acquiring an additional 1,009,795 shares during the last quarter. Earnest Partners LLC grew its holdings in shares of ASE Technology by 10.4% in the second quarter. Earnest Partners LLC now owns 2,840,090 shares of the semiconductor company’s stock valued at $32,434,000 after purchasing an additional 266,991 shares in the last quarter. Finally, American Century Companies Inc. increased its position in ASE Technology by 3.4% in the second quarter. American Century Companies Inc. now owns 1,939,422 shares of the semiconductor company’s stock worth $22,148,000 after purchasing an additional 63,237 shares during the last quarter. 6.80% of the stock is currently owned by 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.