Schroder Investment Management Group Grows Stake in ASE Technology Holding Co., Ltd. $ASX

Key Points

• Schroder Investment Management Group boosted its stake in ASE Technology by 38.4% in Q3 to 7,258,450 shares—about $80.8 million, representing roughly 0.33% of the company.
• ASE reported Q results with EPS of $0.11 (missed est. $0.20) but revenue of $5.67 billion topped consensus; analysts are mixed (one Buy, one Hold, one Sell) with an average Hold, and the stock trades near $21.63 with a market cap around $48 billion and a P/E of 37.29.

Schroder Investment Management Group boosted its holdings in shares of ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) by 38.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,258,450 shares of the semiconductor company's stock after purchasing an additional 2,012,970 shares during the quarter. Schroder Investment Management Group owned about 0.33% of ASE Technology worth $80,787,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC boosted its stake in ASE Technology by 1.8% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 36,780 shares of the semiconductor company's stock worth $408,000 after purchasing an additional 650 shares during the period. Global Retirement Partners LLC raised its position in shares of ASE Technology by 16.1% during the third quarter. Global Retirement Partners LLC now owns 5,921 shares of the semiconductor company's stock valued at $66,000 after buying an additional 823 shares during the last quarter. CWM LLC raised its position in shares of ASE Technology by 5.0% during the third quarter. CWM LLC now owns 17,578 shares of the semiconductor company's stock valued at $195,000 after buying an additional 838 shares during the last quarter. MGO One Seven LLC lifted its holdings in shares of ASE Technology by 8.7% in the third quarter. MGO One Seven LLC now owns 10,906 shares of the semiconductor company's stock worth $121,000 after buying an additional 872 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its holdings in shares of ASE Technology by 12.2% in the third quarter. Wilmington Savings Fund Society FSB now owns 8,454 shares of the semiconductor company's stock worth $94,000 after buying an additional 917 shares in the last quarter. 6.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Zacks Research cut shares of ASE Technology from a "hold" rating to a "strong sell" rating in a research note on Thursday, January 1st. Wall Street Zen cut shares of ASE Technology from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of ASE Technology in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, ASE Technology has an average rating of "Hold".

ASE Technology Stock Performance

NYSE:ASX opened at $21.63 on Tuesday. The company has a market cap of $47.97 billion, a price-to-earnings ratio of 37.29, a PEG ratio of 0.88 and a beta of 1.41. ASE Technology Holding Co., Ltd. has a 1 year low of $6.94 and a 1 year high of $25.28. The stock's 50 day simple moving average is $20.56 and its two-hundred day simple moving average is $15.77. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.28 and a quick ratio of 1.00.

ASE Technology (NYSE:ASX - Get Free Report) last posted its earnings results on Thursday, February 5th. The semiconductor company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.09). ASE Technology had a net margin of 6.31% and a return on equity of 12.00%. The firm had revenue of $5.67 billion for the quarter, compared to the consensus estimate of $5.47 billion. As a group, equities analysts anticipate that ASE Technology Holding Co., Ltd. will post 0.76 earnings per share for the current fiscal year.

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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