ASE Technology (NYSE:ASX) Shares Gap Up to $11.23

ASE Technology Holding Co., Ltd. (NYSE:ASX) gapped up before the market opened on Friday . The stock had previously closed at $11.23, but opened at $11.53. ASE Technology shares last traded at $11.35, with a volume of 764,318 shares.

Wall Street Analysts Forecast Growth

ASX has been the topic of several recent analyst reports. StockNews.com upgraded ASE Technology from a “hold” rating to a “buy” rating in a report on Thursday, June 13th. Morgan Stanley downgraded ASE Technology from an “overweight” rating to an “equal weight” rating in a report on Tuesday, June 25th.

ASE Technology Stock Up 2.2 %

The company has a market cap of $25.17 billion, a price-to-earnings ratio of 24.41, a P/E/G ratio of 0.63 and a beta of 1.21. The company has a current ratio of 1.19, a quick ratio of 0.92 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average price of $10.95 and a two-hundred day moving average price of $10.28.

ASE Technology (NYSE:ASX) last announced its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). The firm had revenue of $4.24 billion during the quarter. ASE Technology had a net margin of 5.41% and a return on equity of 10.09%. During the same period last year, the firm posted $0.09 earnings per share. On average, equities analysts predict that ASE Technology Holding Co., Ltd. will post 0.62 earnings per share for the current year.

ASE Technology Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Friday, August 2nd. Shareholders of record on Tuesday, July 2nd will be given a dividend of $0.3209 per share. The ex-dividend date is Tuesday, July 2nd. This represents a yield of 2.2%. ASE Technology’s payout ratio is currently 50.00%.

Institutional Investors Weigh In On ASE Technology

A number of large investors have recently added to or reduced their stakes in the stock. Principal Securities Inc. bought a new stake in shares of ASE Technology in the fourth quarter valued at approximately $41,000. GAMMA Investing LLC acquired a new position in shares of ASE Technology in the fourth quarter valued at $52,000. Burns Matteson Capital Management LLC acquired a new position in shares of ASE Technology in the first quarter valued at $107,000. BetterWealth LLC acquired a new position in shares of ASE Technology in the fourth quarter valued at $94,000. Finally, Capital Management Associates Inc acquired a new position in shares of ASE Technology in the fourth quarter valued at $94,000. Institutional investors own 6.80% of the company’s stock.

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.