UBS Group AG Raises Holdings in ASE Technology Holding Co., Ltd. $ASX

Key Points

• UBS Group AG increased its stake in ASE Technology by 11.4% in Q4, owning 9,038,322 shares (about 0.41% of the company) worth roughly $145.5 million after buying an additional 922,692 shares.
• ASE posted a quarterly beat—EPS $0.20 vs. $0.17 expected and revenue $5.43 billion vs. $5.30 billion—and the stock is trading near its 1-year high with a market cap of about $70.02 billion and a P/E of 46.31.
• Several other institutional investors (Bank of America, Rafferty, Schroder, Goldman Sachs, Cullen) also raised positions recently, while analyst coverage remains conservative with a consensus rating of Hold despite a recent upgrade to Buy from one shop.

UBS Group AG increased its stake in shares of ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) by 11.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,038,322 shares of the semiconductor company's stock after purchasing an additional 922,692 shares during the period. UBS Group AG owned 0.41% of ASE Technology worth $145,517,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Bank of America Corp DE lifted its position in shares of ASE Technology by 9.6% in the third quarter. Bank of America Corp DE now owns 9,661,484 shares of the semiconductor company's stock valued at $107,146,000 after acquiring an additional 846,300 shares in the last quarter. Rafferty Asset Management LLC raised its stake in ASE Technology by 50.9% in the 2nd quarter. Rafferty Asset Management LLC now owns 7,392,190 shares of the semiconductor company's stock valued at $76,361,000 after purchasing an additional 2,491,918 shares during the last quarter. Schroder Investment Management Group raised its stake in ASE Technology by 38.4% in the 3rd quarter. Schroder Investment Management Group now owns 7,258,450 shares of the semiconductor company's stock valued at $80,787,000 after purchasing an additional 2,012,970 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in ASE Technology by 15.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,775,272 shares of the semiconductor company's stock valued at $50,591,000 after purchasing an additional 780,651 shares in the last quarter. Finally, Cullen Capital Management LLC boosted its stake in shares of ASE Technology by 0.7% during the 3rd quarter. Cullen Capital Management LLC now owns 5,618,822 shares of the semiconductor company's stock worth $62,313,000 after purchasing an additional 38,646 shares during the last quarter. Hedge funds and other institutional investors own 6.80% of the company's stock.

ASE Technology Trading Up 2.9%

Shares of ASX stock opened at $31.49 on Friday. The firm's 50-day simple moving average is $24.40 and its 200-day simple moving average is $19.35. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.26 and a quick ratio of 1.00. ASE Technology Holding Co., Ltd. has a 1-year low of $8.68 and a 1-year high of $32.31. The firm has a market cap of $70.02 billion, a P/E ratio of 46.31, a PEG ratio of 1.27 and a beta of 1.46.

ASE Technology (NYSE:ASX - Get Free Report) last released its earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.03. ASE Technology had a net margin of 7.03% and a return on equity of 13.76%. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.30 billion. As a group, equities analysts forecast that ASE Technology Holding Co., Ltd. will post 0.77 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of ASE Technology from a "hold" rating to a "buy" rating in a research report on Sunday, April 5th. Weiss Ratings reissued a "hold (c)" rating on shares of ASE Technology in a research note on Wednesday, January 21st. Finally, Zacks Research raised ASE Technology from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold".

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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