ASE Technology (NYSE:ASX) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

ASE Technology Holding Co., Ltd. (NYSE:ASX)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $10.18 and traded as high as $10.23. ASE Technology shares last traded at $10.07, with a volume of 8,563,371 shares.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ASX shares. UBS Group upgraded shares of ASE Technology from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 15th. Morgan Stanley upgraded ASE Technology from an “equal weight” rating to an “overweight” rating in a research report on Monday, September 16th. Finally, StockNews.com cut ASE Technology from a “buy” rating to a “hold” rating in a research report on Friday, September 20th.

ASE Technology Trading Down 0.8 %

The business’s 50 day moving average is $9.94 and its two-hundred day moving average is $10.18. The firm has a market capitalization of $22.10 billion, a P/E ratio of 22.38, a PEG ratio of 0.71 and a beta of 1.21. The company has a quick ratio of 0.89, a current ratio of 1.18 and a debt-to-equity ratio of 0.38.

ASE Technology (NYSE:ASX) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). ASE Technology had a return on equity of 10.05% and a net margin of 5.47%. The company had revenue of $4.96 billion during the quarter. During the same period in the prior year, the company posted $0.13 earnings per share. Analysts expect that ASE Technology Holding Co., Ltd. will post 0.48 EPS for the current year.

Institutional Trading of ASE Technology

A number of hedge funds and other institutional investors have recently modified their holdings of ASX. Allspring Global Investments Holdings LLC grew its holdings in ASE Technology by 585.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 109,813 shares of the semiconductor company’s stock worth $1,072,000 after acquiring an additional 93,790 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of ASE Technology in the 2nd quarter worth approximately $1,901,000. OneDigital Investment Advisors LLC lifted its stake in ASE Technology by 16.5% during the third quarter. OneDigital Investment Advisors LLC now owns 17,193 shares of the semiconductor company’s stock valued at $168,000 after purchasing an additional 2,431 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in ASE Technology by 12.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 544,797 shares of the semiconductor company’s stock valued at $6,222,000 after purchasing an additional 61,992 shares during the last quarter. Finally, TT International Asset Management LTD grew its position in ASE Technology by 14.8% in the third quarter. TT International Asset Management LTD now owns 2,063,535 shares of the semiconductor company’s stock worth $20,140,000 after buying an additional 265,767 shares during the last quarter. 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.