ASE Technology (NYSE:ASX) Shares Down 3.3% – Here’s Why

Shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) traded down 3.3% on Wednesday . The company traded as low as $9.44 and last traded at $9.44. 481,262 shares were traded during mid-day trading, a decline of 93% from the average session volume of 6,789,328 shares. The stock had previously closed at $9.76.

Wall Street Analysts Forecast Growth

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

ASE Technology Stock Performance

The stock has a market capitalization of $20.83 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 0.70 and a beta of 1.22. The company’s 50-day simple moving average is $9.93 and its 200-day simple moving average is $10.33. The company has a current ratio of 1.18, a quick ratio of 0.89 and a debt-to-equity ratio of 0.38.

ASE Technology (NYSE:ASX) last announced its earnings results on Thursday, October 31st. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter. During the same period in the prior year, the company posted $0.13 earnings per share. On average, analysts expect that ASE Technology Holding Co., Ltd. will post 0.48 EPS for the current year.

Institutional Trading of ASE Technology

Several institutional investors have recently added to or reduced their stakes in the stock. Cetera Advisors LLC acquired a new position in ASE Technology in the first quarter valued at $120,000. EverSource Wealth Advisors LLC boosted its position in shares of ASE Technology by 31.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 15,212 shares of the semiconductor company’s stock valued at $153,000 after purchasing an additional 3,629 shares in the last quarter. Fulton Bank N.A. acquired a new stake in ASE Technology during the second quarter worth approximately $133,000. Aprio Wealth Management LLC increased its holdings in ASE Technology by 13.5% in the second quarter. Aprio Wealth Management LLC now owns 37,098 shares of the semiconductor company’s stock worth $424,000 after purchasing an additional 4,399 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in ASE Technology by 96.9% in the second quarter. Blue Trust Inc. now owns 85,841 shares of the semiconductor company’s stock valued at $943,000 after buying an additional 42,254 shares during the period. 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.