Ramirez Asset Management Inc. Raises Stock Holdings in ASE Technology Holding Co., Ltd. $ASX

Ramirez Asset Management Inc. boosted its stake in shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) by 9.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 453,422 shares of the semiconductor company’s stock after purchasing an additional 38,242 shares during the quarter. Ramirez Asset Management Inc.’s holdings in ASE Technology were worth $5,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in shares of ASE Technology by 18.8% during the second quarter. Bank of America Corp DE now owns 8,815,184 shares of the semiconductor company’s stock valued at $91,061,000 after buying an additional 1,397,206 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings in shares of ASE Technology by 50.9% in the 2nd quarter. Rafferty Asset Management LLC now owns 7,392,190 shares of the semiconductor company’s stock valued at $76,361,000 after buying an additional 2,491,918 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of ASE Technology by 15.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,775,272 shares of the semiconductor company’s stock worth $50,591,000 after buying an additional 780,651 shares during the last quarter. Cullen Capital Management LLC raised its stake in shares of ASE Technology by 0.7% during the 3rd quarter. Cullen Capital Management LLC now owns 5,618,822 shares of the semiconductor company’s stock worth $62,313,000 after acquiring an additional 38,646 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of ASE Technology by 6.7% during the 2nd quarter. Schroder Investment Management Group now owns 5,245,480 shares of the semiconductor company’s stock worth $54,186,000 after acquiring an additional 329,549 shares in the last quarter. Hedge funds and other institutional investors own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

ASX has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of ASE Technology from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research downgraded ASE Technology from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, ASE Technology currently has a consensus rating of “Hold”.

ASE Technology Price Performance

Shares of ASX opened at $21.13 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.28 and a quick ratio of 1.00. The company’s fifty day moving average price is $20.45 and its 200-day moving average price is $15.61. ASE Technology Holding Co., Ltd. has a 1-year low of $6.94 and a 1-year high of $25.28. The firm has a market capitalization of $46.87 billion, a PE ratio of 36.43, a price-to-earnings-growth ratio of 0.91 and a beta of 1.42.

ASE Technology (NYSE:ASX) last issued its earnings results on Thursday, February 5th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.09). ASE Technology had a return on equity of 12.00% and a net margin of 6.31%.The firm had revenue of $5.67 billion during the quarter, compared to analysts’ expectations of $5.47 billion. On average, equities research analysts predict that ASE Technology Holding Co., Ltd. will post 0.76 EPS for the current year.

About ASE Technology

ASE Technology Holding Co, Ltd. (NYSE: ASX), commonly referred to as ASE, is a Taiwan-based provider of semiconductor assembly and testing services. The company focuses on back-end semiconductor manufacturing and related services that prepare integrated circuits and other semiconductor devices for final use. Its core activities include advanced IC packaging, final testing, wafer probing, and related engineering and supply-chain support for semiconductor customers.

ASE offers a range of products and technical capabilities designed to meet increasingly complex packaging and system-in-package requirements.