ASE Technology (NYSE:ASX) Shares Gap Down – Should You Sell?

Shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) gapped down prior to trading on Wednesday . The stock had previously closed at $7.42, but opened at $7.00. ASE Technology shares last traded at $7.09, with a volume of 2,579,477 shares changing hands.

ASE Technology Trading Down 4.0 %

The company has a 50 day simple moving average of $9.79 and a 200 day simple moving average of $9.98. The company has a current ratio of 1.19, a quick ratio of 0.93 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $15.73 billion, a PE ratio of 15.79, a P/E/G ratio of 0.47 and a beta of 1.21.

ASE Technology (NYSE:ASX) last issued its quarterly earnings results on Thursday, February 13th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.03). ASE Technology had a return on equity of 9.86% and a net margin of 5.44%. Analysts predict that ASE Technology Holding Co., Ltd. will post 0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ASE Technology

A number of institutional investors have recently added to or reduced their stakes in ASX. JPMorgan Chase & Co. boosted its position in shares of ASE Technology by 103.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,571,208 shares of the semiconductor company’s stock worth $34,855,000 after purchasing an additional 1,818,753 shares in the last quarter. TT International Asset Management LTD lifted its stake in shares of 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. Mirae Asset Global Investments Co. Ltd. purchased a new stake in ASE Technology during the fourth quarter worth about $710,000. Y Intercept Hong Kong Ltd grew its position in ASE Technology by 28.8% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 149,965 shares of the semiconductor company’s stock worth $1,510,000 after buying an additional 33,542 shares during the period. Finally, Rhumbline Advisers increased its holdings in ASE Technology by 9.3% in the fourth quarter. Rhumbline Advisers now owns 805,764 shares of the semiconductor company’s stock valued at $8,114,000 after buying an additional 68,654 shares in the last quarter. Hedge funds and other 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.