ASE Technology Holding Co., Ltd. $ASX Stock Purchased by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its ASE Technology stake by 705.8% in the third quarter, adding 158,591 shares to hold 181,060 shares valued at about $8.1 million.
• Several research firms upgraded the stock, and MarketBeat data showed an average rating of “Strong Buy.”
• ASE Technology beat quarterly estimates, reporting EPS of $0.37 versus $0.34 expected and revenue of $7.66 billion versus $7.30 billion expected.

Candriam S.C.A. grew its stake in shares of ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) by 705.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 181,060 shares of the semiconductor company's stock after purchasing an additional 158,591 shares during the period. Candriam S.C.A.'s holdings in ASE Technology were worth $8,079,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Eastern Bank raised its stake in ASE Technology by 10.5% in the third quarter. Eastern Bank now owns 2,339 shares of the semiconductor company's stock worth $104,000 after buying an additional 223 shares in the last quarter. Angeles Wealth Management LLC boosted its position in ASE Technology by 5.2% during the 3rd quarter. Angeles Wealth Management LLC now owns 7,070 shares of the semiconductor company's stock valued at $314,000 after acquiring an additional 352 shares in the last quarter. MGO One Seven LLC boosted its position in ASE Technology by 5.3% during the 3rd quarter. MGO One Seven LLC now owns 9,659 shares of the semiconductor company's stock valued at $429,000 after acquiring an additional 488 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of ASE Technology by 107.7% during the 2nd quarter. IFP Advisors Inc now owns 947 shares of the semiconductor company's stock worth $43,000 after acquiring an additional 491 shares during the period. Finally, Greenleaf Trust grew its holdings in shares of ASE Technology by 3.2% during the 3rd quarter. Greenleaf Trust now owns 16,140 shares of the semiconductor company's stock worth $718,000 after acquiring an additional 495 shares during the period. Hedge funds and other institutional investors own 6.80% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wall Street Zen upgraded ASE Technology from a "hold" rating to a "buy" rating in a research note on Saturday, October 31st. Zacks Research upgraded ASE Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 22nd. Finally, Weiss Ratings raised ASE Technology from a "hold (c+)" rating to a "buy (b)" rating in a research note on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Strong Buy".

ASE Technology Stock Up 8.8%

NYSE:ASX opened at $34.42 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.88 and a current ratio of 1.16. The firm has a market cap of $76.93 billion, a P/E ratio of 32.16 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 firm has a 50-day simple moving average of $41.23 and a two-hundred day simple moving average of $33.70.

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

About ASE Technology

ASE Technology Holding Co provides semiconductor packaging and testing services, as well as electronics manufacturing services. Its semiconductor offerings include advanced packaging, wafer bumping and testing, which help customers assemble and validate chips for use in electronic devices.

The company also provides electronics design and manufacturing services through Universal Scientific Industrial, serving customers across industries such as communications, computing, automotive and consumer electronics.

ASE Technology was formed in 2018 through the combination of Advanced Semiconductor Engineering and Siliconware Precision Industries.

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