ASE Technology Holding Co., Ltd. (NYSE:ASX) Sees Large Drop in Short Interest

ASE Technology Holding Co., Ltd. (NYSE:ASX) saw a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 11,000,000 shares, a drop of 7.8% from the October 31st total of 11,930,000 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average trading volume of 7,100,000 shares, the short-interest ratio is currently 1.5 days.

ASE Technology Stock Performance

Shares of NYSE ASX traded down $0.10 during trading on Tuesday, reaching $9.91. 6,912,880 shares of the company traded hands, compared to its average volume of 6,439,447. The stock has a market cap of $21.75 billion, a P/E ratio of 22.02, a PEG ratio of 0.71 and a beta of 1.21. The firm’s fifty day simple moving average is $9.92 and its 200 day simple moving average is $10.31. 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 has a 12-month low of $8.10 and a 12-month high of $12.86.

ASE Technology (NYSE:ASX) last announced its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). The company had revenue of $4.96 billion for the quarter. ASE Technology had a net margin of 5.47% and a return on equity of 10.05%. During the same period in the prior year, the company posted $0.13 EPS. As a group, research analysts anticipate that ASE Technology will post 0.48 earnings per share for the current fiscal year.

Institutional Trading of ASE Technology

A number of hedge funds have recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its stake in shares of ASE Technology by 10.8% during the 3rd quarter. Fisher Asset Management LLC now owns 15,167,615 shares of the semiconductor company’s stock worth $148,036,000 after acquiring an additional 1,481,424 shares in the last quarter. Citigroup Inc. raised its holdings in ASE Technology by 9.7% in the 3rd quarter. Citigroup Inc. now owns 4,323,059 shares of the semiconductor company’s stock worth $42,193,000 after purchasing an additional 382,425 shares during the period. Earnest Partners LLC boosted its position in ASE Technology by 10.4% during the second quarter. Earnest Partners LLC now owns 2,840,090 shares of the semiconductor company’s stock worth $32,434,000 after purchasing an additional 266,991 shares in the last quarter. TT International Asset Management LTD grew its holdings 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 valued at $20,140,000 after purchasing an additional 265,767 shares during the period. Finally, American Century Companies Inc. increased its position in shares of 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 valued at $22,148,000 after buying an additional 63,237 shares in the last quarter. 6.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ASX has been the topic of a number of research reports. Morgan Stanley raised ASE Technology from an “equal weight” rating to an “overweight” rating in a report on Monday, September 16th. StockNews.com downgraded shares of ASE Technology from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Finally, UBS Group upgraded shares of ASE Technology from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 15th.

ASE Technology Company Profile

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.