Short Interest in ASE Technology Holding Co Ltd (ASX) Increases By 69.8%

ASE Technology Holding Co Ltd (NYSE:ASX) saw a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 1,675,893 shares, an increase of 69.8% from the September 28th total of 986,712 shares. Based on an average daily volume of 874,475 shares, the days-to-cover ratio is currently 1.9 days.

ASE Technology stock opened at $4.08 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 1.11. ASE Technology has a 12-month low of $3.77 and a 12-month high of $8.00. The firm has a market cap of $8.61 billion, a P/E ratio of 12.00 and a beta of 0.77.

A number of equities research analysts have recently commented on the stock. CLSA lowered shares of ASE Technology from an “outperform” rating to an “underperform” rating in a research note on Monday, October 8th. ValuEngine lowered shares of ASE Technology from a “hold” rating to a “sell” rating in a research note on Saturday, October 6th. Finally, JPMorgan Chase & Co. lowered shares of ASE Technology from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 10th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $8.25.

Several institutional investors have recently added to or reduced their stakes in ASX. US Bancorp DE acquired a new position in shares of ASE Technology during the 2nd quarter valued at $107,000. Cubist Systematic Strategies LLC acquired a new position in shares of ASE Technology during the 2nd quarter valued at $110,000. Signaturefd LLC acquired a new position in shares of ASE Technology during the 2nd quarter valued at $119,000. PNC Financial Services Group Inc. acquired a new position in shares of ASE Technology during the 2nd quarter valued at $136,000. Finally, Capital Fund Management S.A. acquired a new position in shares of ASE Technology during the 2nd quarter valued at $143,000. Institutional investors own 5.44% of the company’s stock.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. provides a range of semiconductors packaging and testing, and electronic manufacturing services (EMS) in the United States, Taiwan, Asia, Europe, and internationally. The company offers packaging services, including flip-chip ball grid array (BGA), flip-chip chip scale package (fcCSP), advanced chip scale packages (aCSP), quad flat packages, thin quad flat packages, bump chip carrier and quad flat no-lead (QFN) packages, advanced QFN packages, plastic BGAs, high-band package on package, and 3D chip packages; stacked die solutions in various package types; and copper wire and silver bonding solutions, as well as module-based solutions.

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