Blue Jean Financial LLC Makes New $4.17 Million Investment in ASE Technology Holding Co., Ltd. $ASX

Key Points

• Blue Jean Financial LLC initiated a $4.17 million position in ASE Technology, purchasing 93,737 shares during the third quarter. The stock now represents approximately 2.5% of the fund’s portfolio and is its sixth-largest holding.
• Other institutional investors also increased or initiated positions, although institutional and hedge-fund ownership remains relatively low at 6.8% of outstanding shares.
• ASE Technology shares opened at $40.79, with a market capitalization of about $91.2 billion and a price-to-earnings ratio of 47.43. Analysts maintain a consensus “Buy” rating after mixed recent upgrades and downgrades.

Blue Jean Financial LLC bought a new position in shares of ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 93,737 shares of the semiconductor company's stock, valued at approximately $4,168,000. ASE Technology comprises approximately 2.5% of Blue Jean Financial LLC's investment portfolio, making the stock its 6th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ASX. Caitong International Asset Management Co. Ltd lifted its stake in shares of ASE Technology by 180,900.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,810 shares of the semiconductor company's stock worth $29,000 after buying an additional 1,809 shares in the last quarter. Bessemer Group Inc. grew its stake in ASE Technology by 135.4% during the 1st quarter. Bessemer Group Inc. now owns 1,438 shares of the semiconductor company's stock valued at $31,000 after acquiring an additional 827 shares in the last quarter. Ancora Advisors LLC purchased a new stake in ASE Technology during the 2nd quarter valued at about $33,000. IFP Advisors Inc grew its stake in ASE Technology by 107.7% during the 2nd quarter. IFP Advisors Inc now owns 947 shares of the semiconductor company's stock valued at $43,000 after acquiring an additional 491 shares in the last quarter. Finally, Polaris Financial Partners acquired a new stake in ASE Technology in the 3rd quarter valued at about $91,000. Institutional investors and hedge funds own 6.80% of the company's stock.

ASE Technology Stock Down 0.0%

NYSE ASX opened at $40.79 on Wednesday. The business's fifty day simple moving average is $41.00 and its 200-day simple moving average is $37.38. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.54. The firm has a market cap of $91.18 billion, a PE ratio of 47.43 and a beta of 1.66. ASE Technology Holding Co., Ltd. has a 52 week low of $12.31 and a 52 week high of $47.93.

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

Analyst Ratings Changes

ASX has been the subject of a number of recent research reports. Zacks Research upgraded shares of ASE Technology from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 22nd. Weiss Ratings upgraded ASE Technology from a "hold (c+)" rating to a "buy (b)" rating in a report on Friday, October 9th. Finally, Wall Street Zen cut ASE Technology from a "buy" rating to a "hold" rating in a report on Saturday, September 19th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy".

ASE Technology Company Profile

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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