ASE Technology Holding Co., Ltd. $ASX Stake Cut by Ethic Inc.

Key Points

• Ethic Inc. cut its ASE Technology stake by 9.4% in the fourth quarter, selling 45,832 shares and leaving it with 440,007 shares valued at about $7.1 million.
• ASE Technology posted better-than-expected quarterly results, reporting EPS of $0.20 versus $0.17 expected and revenue of $5.43 billion, also ahead of estimates.
• Analysts are broadly positive on the stock, with recent upgrades pushing the consensus rating to “Buy” and expectations for full-year EPS of 1.05.

Ethic Inc. reduced its holdings in ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 440,007 shares of the semiconductor company's stock after selling 45,832 shares during the period. Ethic Inc.'s holdings in ASE Technology were worth $7,084,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Sequoia Financial Advisors LLC raised its stake in shares of ASE Technology by 4.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 138,624 shares of the semiconductor company's stock worth $2,232,000 after purchasing an additional 5,710 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in shares of ASE Technology by 256.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,495 shares of the semiconductor company's stock worth $40,000 after purchasing an additional 1,795 shares in the last quarter. Truist Financial Corp raised its stake in shares of ASE Technology by 21.8% during the 4th quarter. Truist Financial Corp now owns 19,109 shares of the semiconductor company's stock worth $308,000 after purchasing an additional 3,419 shares in the last quarter. Nkcfo LLC purchased a new stake in shares of ASE Technology during the 4th quarter worth about $113,000. Finally, Vest Financial LLC raised its stake in shares of ASE Technology by 5.2% during the 4th quarter. Vest Financial LLC now owns 12,954 shares of the semiconductor company's stock worth $209,000 after purchasing an additional 637 shares in the last quarter. 6.80% of the stock is owned by hedge funds and other institutional investors.

ASE Technology Stock Performance

Shares of NYSE ASX opened at $34.19 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.89 and a current ratio of 1.15. The firm has a market cap of $76.03 billion, a price-to-earnings ratio of 50.29, a P/E/G ratio of 0.68 and a beta of 1.68. The business's 50-day simple moving average is $24.98 and its 200-day simple moving average is $19.91. ASE Technology Holding Co., Ltd. has a 52 week low of $9.19 and a 52 week high of $34.30.

ASE Technology (NYSE:ASX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.03. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.32 billion. ASE Technology had a return on equity of 13.48% and a net margin of 7.03%. As a group, equities research analysts expect that ASE Technology Holding Co., Ltd. will post 1.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised ASE Technology from a "hold" rating to a "buy" rating in a research note on Sunday, April 5th. Zacks Research raised ASE Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of ASE Technology in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, ASE Technology currently has an average rating of "Buy".

ASE Technology Profile

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.

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