TT International Asset Management LTD Buys 879,467 Shares of ASE Technology Holding Co., Ltd. $ASX

Key Points

• TT International Asset Management LTD significantly increased its stake in ASE Technology, boosting its holdings by 19,539.4% in Q2, now owning 883,968 shares valued at approximately $9.13 million.
• Other investors, including Golden State Wealth Management and Brooklyn Investment Group, also made substantial increases in their ASE Technology holdings during the first quarter.
• ASE Technology reported earnings of $0.11 per share, missing expectations, with revenue of $5.07 billion, significantly below analysts' expectations of $150.44 billion.

TT International Asset Management LTD raised its position in shares of ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) by 19,539.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 883,968 shares of the semiconductor company's stock after purchasing an additional 879,467 shares during the period. ASE Technology accounts for about 1.7% of TT International Asset Management LTD's investment portfolio, making the stock its 12th largest position. TT International Asset Management LTD's holdings in ASE Technology were worth $9,131,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ASX. Golden State Wealth Management LLC raised its stake in shares of ASE Technology by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 3,590 shares of the semiconductor company's stock worth $31,000 after purchasing an additional 1,795 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of ASE Technology by 1,084.2% during the 1st quarter. Brooklyn Investment Group now owns 7,650 shares of the semiconductor company's stock worth $67,000 after purchasing an additional 7,004 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of ASE Technology during the 1st quarter worth about $68,000. Canopy Partners LLC purchased a new stake in shares of ASE Technology during the 1st quarter worth about $91,000. Finally, Russell Investments Group Ltd. raised its stake in shares of ASE Technology by 14.9% during the 1st quarter. Russell Investments Group Ltd. now owns 10,506 shares of the semiconductor company's stock worth $92,000 after purchasing an additional 1,365 shares in the last quarter. 6.80% of the stock is owned by hedge funds and other institutional investors.

ASE Technology Stock Up 2.1%

Shares of ASX traded up $0.25 during midday trading on Monday, reaching $11.71. 4,720,269 shares of the stock were exchanged, compared to its average volume of 6,667,352. ASE Technology Holding Co., Ltd. has a 12-month low of $6.94 and a 12-month high of $11.76. The firm has a 50 day simple moving average of $10.38 and a 200-day simple moving average of $9.77. The company has a quick ratio of 0.79, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The company has a market cap of $25.84 billion, a price-to-earnings ratio of 24.90, a P/E/G ratio of 0.64 and a beta of 1.34.

ASE Technology (NYSE:ASX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.03). ASE Technology had a return on equity of 10.33% and a net margin of 5.48%.The firm had revenue of $5.07 billion for the quarter, compared to analysts' expectations of $150.44 billion. Research analysts forecast that ASE Technology Holding Co., Ltd. will post 0.76 EPS for the current year.

ASE Technology Profile

ASE Technology Holding Co, Ltd., together with its subsidiaries, provides semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, Asia, Europe, and internationally. It develops, constructs, sells, leases, and manages real estate properties; produces substrates; offers information software, equipment leasing, investment advisory, and warehousing management services; commercial complex, after-sales, and support services; manages parking lot services; processes and sells computer and communication peripherals, electronic components, telecommunications equipment, and motherboards; and imports and exports goods and technology.