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

ASE Technology Holding Co., Ltd. (NYSE:ASX) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 10,130,000 shares, a decline of 6.0% from the November 30th total of 10,780,000 shares. Based on an average daily volume of 6,820,000 shares, the short-interest ratio is currently 1.5 days. Currently, 0.5% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ASX. Allspring Global Investments Holdings LLC boosted its stake 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 valued at $1,072,000 after buying an additional 93,790 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of ASE Technology in the 2nd quarter valued at about $1,901,000. OneDigital Investment Advisors LLC increased 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 worth $168,000 after acquiring an additional 2,431 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of ASE Technology by 12.8% in the 2nd 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 boosted its holdings in shares of ASE Technology by 14.8% in the 3rd quarter. TT International Asset Management LTD now owns 2,063,535 shares of the semiconductor company’s stock worth $20,140,000 after purchasing an additional 265,767 shares during the period. Hedge funds and other institutional investors own 6.80% of the company’s stock.

ASE Technology Price Performance

NYSE:ASX traded down $0.08 during trading hours on Wednesday, hitting $10.07. 8,563,371 shares of the stock traded hands, compared to its average volume of 6,932,226. ASE Technology has a 1 year low of $8.10 and a 1 year high of $12.86. The company has a quick ratio of 0.89, a current ratio of 1.18 and a debt-to-equity ratio of 0.38. The company has a market cap of $22.10 billion, a price-to-earnings ratio of 22.38, a price-to-earnings-growth ratio of 0.71 and a beta of 1.21. The stock has a 50 day moving average price of $9.94 and a 200 day moving average price of $10.18.

ASE Technology (NYSE:ASX) last released its quarterly earnings data 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). 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 quarter in the prior year, the firm posted $0.13 EPS. Sell-side analysts forecast that ASE Technology will post 0.48 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.