ASE Technology Holding Co., Ltd. $ASX Stock Purchased by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd increased its ASE Technology position by 591.1% in the third quarter, acquiring 589,119 additional shares for a total holding of 688,777 shares worth approximately $30.6 million.
• Other institutional investors also raised their stakes, while institutional ownership of ASE Technology reached 6.8% of outstanding shares.
• Analyst sentiment remains positive, with the stock carrying a consensus “Buy” rating. ASE Technology recently beat quarterly earnings expectations, reporting $0.29 in EPS versus the $0.23 consensus estimate.

Ninety One UK Ltd grew its position in ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) by 591.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 688,777 shares of the semiconductor company's stock after acquiring an additional 589,119 shares during the quarter. Ninety One UK Ltd's holdings in ASE Technology were worth $30,623,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Eastern Bank increased its position in shares of ASE Technology by 10.5% during the third quarter. Eastern Bank now owns 2,339 shares of the semiconductor company's stock valued at $104,000 after purchasing an additional 223 shares during the period. IFP Advisors Inc raised its stake in shares of ASE Technology by 107.7% in the second quarter. IFP Advisors Inc now owns 947 shares of the semiconductor company's stock valued at $43,000 after purchasing an additional 491 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in shares of ASE Technology by 5.1% in the third quarter. Valeo Financial Advisors LLC now owns 12,242 shares of the semiconductor company's stock valued at $544,000 after purchasing an additional 595 shares in the last quarter. Ancora Advisors LLC bought a new position in ASE Technology in the second quarter worth $33,000. Finally, Bessemer Group Inc. lifted its position in ASE Technology by 135.4% in the first quarter. Bessemer Group Inc. now owns 1,438 shares of the semiconductor company's stock worth $31,000 after purchasing an additional 827 shares during the period. Institutional investors own 6.80% of the company's stock.

Wall Street Analyst Weigh In

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

ASE Technology Stock Down 5.3%

NYSE ASX opened at $41.98 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.81 and a debt-to-equity ratio of 0.54. The stock's 50 day moving average is $40.85 and its two-hundred day moving average is $36.98. The company has a market capitalization of $93.83 billion, a price-to-earnings ratio of 48.81 and a beta of 1.66. ASE Technology Holding Co., Ltd. has a 1-year low of $12.31 and a 1-year high of $47.93.

ASE Technology (NYSE:ASX - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.06. ASE Technology had a return on equity of 16.12% and a net margin of 8.52%. The company had revenue of $81.66 million for the quarter, compared to analyst estimates of $5.96 billion. Equities analysts forecast that ASE Technology Holding Co., Ltd. will post 1.26 earnings per share 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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