90,427 ASE Technology Holding Co., Ltd. $ASX Shares Sold by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA cut its ASE Technology stake by 38.2% in the third quarter, selling 90,427 shares and retaining 146,561 shares valued at approximately $6.5 million.
• Institutional investor activity was mixed, with several firms increasing their positions; overall, hedge funds and other institutions own 6.8% of ASE Technology.
• Analyst sentiment remains positive, with the stock carrying a consensus “Buy” rating, despite shares opening at $39.52 after a reported 5.7% decline.

Banque Pictet & Cie SA decreased its stake in ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) by 38.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 146,561 shares of the semiconductor company's stock after selling 90,427 shares during the quarter. Banque Pictet & Cie SA's holdings in ASE Technology were worth $6,516,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ASX. Hsbc Holdings PLC boosted its holdings in 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 during the last quarter. Dimensional Fund Advisors LP increased its position in shares of ASE Technology by 9.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,399,553 shares of the semiconductor company's stock worth $30,342,000 after purchasing an additional 125,324 shares during the last quarter. Sei Investments Co. raised its holdings in ASE Technology by 12.1% in the 1st quarter. Sei Investments Co. now owns 812,019 shares of the semiconductor company's stock valued at $17,604,000 after buying an additional 87,689 shares during the period. Ninety One UK Ltd raised its holdings in ASE Technology by 591.1% in the 3rd quarter. Ninety One UK Ltd now owns 688,777 shares of the semiconductor company's stock valued at $30,623,000 after buying an additional 589,119 shares during the period. Finally, Quantinno Capital Management LP raised its holdings in ASE Technology by 37.8% in the 1st quarter. Quantinno Capital Management LP now owns 588,182 shares of the semiconductor company's stock valued at $12,752,000 after buying an additional 161,471 shares during the period. Hedge funds and other institutional investors own 6.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen cut ASE Technology from a "buy" rating to a "hold" rating in a research note on Saturday, September 19th. Zacks Research raised ASE Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 22nd. Finally, Weiss Ratings upgraded ASE Technology from a "hold (c+)" rating to a "buy (b)" rating in a report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy".

ASE Technology Stock Down 5.7%

ASE Technology stock opened at $39.52 on Friday. The stock's 50 day moving average price is $40.89 and its 200 day moving average price is $37.00. ASE Technology Holding Co., Ltd. has a 1-year low of $12.31 and a 1-year high of $47.93. The company has a market cap of $88.34 billion, a PE ratio of 45.95 and a beta of 1.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.07 and a quick ratio of 0.81.

ASE Technology (NYSE:ASX - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.06. ASE Technology had a return on equity of 16.12% and a net margin of 8.52%. The business had revenue of $81.66 million for the quarter, compared to analysts' expectations of $5.96 billion. On average, sell-side analysts predict that ASE Technology Holding Co., Ltd. will post 1.26 EPS for the current fiscal year.

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 testing (OSAT) services, helping chip manufacturers package and test integrated circuits before they are incorporated into electronic products.

Its services include wafer probing, wafer bumping, flip-chip and wire-bond packaging, system-in-package and other advanced packaging technologies, as well as final testing and related engineering services.

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