298,154 ASE Technology Holding Co., Ltd. $ASX Shares Sold by TT International Asset Management LTD

Key Points

• TT International Asset Management cut its ASE Technology stake by 32.8% in the third quarter, selling 298,154 shares and retaining 609,659 shares valued at about $27.1 million.
• ASE Technology beat quarterly estimates, reporting EPS of $0.37 versus $0.34 expected and revenue of $7.66 billion versus $7.30 billion forecast.
• Analyst ratings were broadly positive: MarketBeat reported an average “Strong Buy” rating, following upgrades from several research firms.

TT International Asset Management LTD trimmed its position in shares of ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) by 32.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 609,659 shares of the semiconductor company's stock after selling 298,154 shares during the period. ASE Technology comprises about 3.0% of TT International Asset Management LTD's portfolio, making the stock its 11th biggest position. TT International Asset Management LTD's holdings in ASE Technology were worth $27,105,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ASX. Nilsine Partners LLC acquired a new position in ASE Technology during the 2nd quarter worth approximately $1,278,000. Nykredit A S purchased a new stake in shares of ASE Technology in the 2nd quarter valued at approximately $14,247,000. Navellier & Associates Inc. acquired a new stake in shares of ASE Technology in the 2nd quarter valued at $3,975,000. Blue Jean Financial LLC acquired a new stake in shares of ASE Technology in the 3rd quarter valued at $4,168,000. Finally, Hsbc Holdings PLC raised its holdings in shares of ASE Technology by 7.5% in the 1st quarter. Hsbc Holdings PLC now owns 2,014,412 shares of the semiconductor company's stock valued at $43,654,000 after purchasing an additional 140,628 shares in the last quarter. 6.80% of the stock is currently owned by hedge funds and other institutional investors.

ASE Technology Price Performance

ASX stock opened at $39.12 on Wednesday. The business has a 50 day moving average price of $41.59 and a 200 day moving average price of $33.41. The stock has a market cap of $87.44 billion, a price-to-earnings ratio of 36.56 and a beta of 1.79. ASE Technology Holding Co., Ltd. has a fifty-two week low of $13.35 and a fifty-two week high of $47.93. The company has a quick ratio of 0.88, a current ratio of 1.16 and a debt-to-equity ratio of 0.70.

ASE Technology (NYSE:ASX - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.03. The firm had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.30 billion. ASE Technology had a return on equity of 18.97% and a net margin of 9.77%. Equities research analysts anticipate that ASE Technology Holding Co., Ltd. will post 1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of ASE Technology from a "hold" rating to a "buy" rating in a research report on Saturday. Weiss Ratings raised ASE Technology from a "hold (c+)" rating to a "buy (b)" rating in a report on Friday, October 9th. Finally, Zacks Research upgraded ASE Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Strong Buy".

About ASE Technology

ASE Technology Holding Co, Ltd. is a Taiwan-based provider of semiconductor manufacturing services. Through its subsidiaries, the company offers outsourced semiconductor assembly and test services, helping chip designers and manufacturers package, assemble and evaluate integrated circuits after wafer fabrication.

Its services include wafer probing, wafer bumping, semiconductor packaging, final testing and advanced packaging technologies such as flip-chip, system-in-package and fan-out solutions.

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