Nykredit A S Buys New Holdings in ASE Technology Holding Co., Ltd. $ASX

Key Points

• Nykredit A/S initiated a position in ASE Technology during the second quarter, purchasing 315,750 shares valued at approximately $14.25 million.
• Other institutional investors also increased exposure, including BNP Paribas Financial Markets, Capital Wealth Planning, and HSBC Holdings; institutional investors collectively own 6.8% of the company.
• ASE Technology reported quarterly EPS of $0.29, beating expectations of $0.23. Analysts maintain a “Moderate Buy” consensus, although some firms recently downgraded the stock to “Hold.”

Nykredit A S bought a new position in shares of ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 315,750 shares of the semiconductor company's stock, valued at approximately $14,247,000.

Other hedge funds have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership acquired a new stake in shares of ASE Technology during the 1st quarter worth about $10,436,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of ASE Technology in the first quarter valued at approximately $8,932,000. BNP Paribas Financial Markets increased its stake in shares of ASE Technology by 59.7% during the fourth quarter. BNP Paribas Financial Markets now owns 898,625 shares of the semiconductor company's stock worth $14,468,000 after purchasing an additional 335,973 shares during the period. Capital Wealth Planning LLC increased its stake in shares of ASE Technology by 111.9% during the fourth quarter. Capital Wealth Planning LLC now owns 577,950 shares of the semiconductor company's stock worth $9,744,000 after purchasing an additional 305,192 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in ASE Technology by 17.3% during the 4th quarter. Hsbc Holdings PLC now owns 1,873,784 shares of the semiconductor company's stock worth $30,147,000 after purchasing an additional 276,926 shares during the last quarter. Institutional investors and hedge funds own 6.80% of the company's stock.

ASE Technology Stock Performance

Shares of ASE Technology stock opened at $41.59 on Friday. The company has a market cap of $92.97 billion, a P/E ratio of 48.36 and a beta of 1.71. 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 business has a 50-day moving average price of $37.95 and a two-hundred day moving average price of $33.76. ASE Technology Holding Co., Ltd. has a 1-year low of $10.93 and a 1-year high of $45.51.

ASE Technology (NYSE:ASX - Get Free Report) last released its earnings results on Thursday, July 30th. The semiconductor company reported $0.29 EPS for the quarter, topping 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 business had revenue of $81.66 million during the quarter, compared to analysts' expectations of $5.96 billion. As a group, analysts anticipate that ASE Technology Holding Co., Ltd. will post 1.23 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Zacks Research cut ASE Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 24th. Wall Street Zen cut ASE Technology from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Weiss Ratings upgraded ASE Technology from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, ASE Technology presently has a consensus rating of "Moderate Buy".

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. is a Taiwan-based semiconductor manufacturing services company. Through its subsidiaries, including Advanced Semiconductor Engineering, Inc and Siliconware Precision Industries Co, Ltd., the company provides outsourced semiconductor assembly and testing (OSAT) services for chipmakers and electronics companies.

Its services include semiconductor packaging, wafer probing, final testing, electronic manufacturing services, and related materials and engineering solutions.

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