VMS Asset Management Limited Buys 114,667 Shares of ASE Technology Holding Co., Ltd. $ASX

Key Points

• VMS Asset Management acquired 114,667 ASE Technology shares worth approximately $5.1 million, making the semiconductor company 2% of its portfolio. Institutional and hedge-fund investors collectively own 6.8% of ASE Technology.
• Analyst sentiment is broadly positive: Zacks Research upgraded the stock to “strong buy” and Weiss Ratings raised it to “buy,” although Wall Street Zen downgraded it to “hold.” MarketBeat reports a consensus “Buy” rating.
• ASE Technology shares opened at $44.39, down 6.7%, with a market capitalization of $99.22 billion. The company recently beat quarterly earnings expectations, reporting $0.29 in EPS versus the $0.23 consensus estimate.

VMS Asset Management Limited acquired a new position in ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 114,667 shares of the semiconductor company's stock, valued at approximately $5,098,000. ASE Technology makes up 2.0% of VMS Asset Management Limited's holdings, making the stock its 25th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eastern Bank grew its stake in shares of ASE Technology by 10.5% during the third quarter. Eastern Bank now owns 2,339 shares of the semiconductor company's stock valued at $104,000 after acquiring an additional 223 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of ASE Technology by 107.7% in the second quarter. IFP Advisors Inc now owns 947 shares of the semiconductor company's stock worth $43,000 after acquiring an additional 491 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in shares of ASE Technology by 5.1% in the third quarter. Valeo Financial Advisors LLC now owns 12,242 shares of the semiconductor company's stock worth $544,000 after acquiring an additional 595 shares in the last quarter. Ancora Advisors LLC acquired a new position in shares of ASE Technology in the second quarter worth about $33,000. Finally, Bessemer Group Inc. boosted its holdings in ASE Technology by 135.4% in the first quarter. Bessemer Group Inc. now owns 1,438 shares of the semiconductor company's stock valued at $31,000 after purchasing an additional 827 shares during the last quarter. 6.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ASX shares. Zacks Research upgraded ASE Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 22nd. Weiss Ratings raised ASE Technology from a "hold (c+)" rating to a "buy (b)" rating in a research report on Friday, October 9th. Finally, Wall Street Zen lowered ASE Technology from a "buy" rating to a "hold" rating in a research 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 stock. According to MarketBeat, the stock has a consensus rating of "Buy".

ASE Technology Trading Down 6.7%

NYSE ASX opened at $44.39 on Thursday. The company has a market capitalization of $99.22 billion, a price-to-earnings ratio of 51.62 and a beta of 1.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.07 and a quick ratio of 0.81. ASE Technology Holding Co., Ltd. has a 12 month low of $11.77 and a 12 month high of $47.93. The company's fifty day moving average price is $40.76 and its two-hundred day moving average price is $36.84.

ASE Technology (NYSE:ASX - Get Free Report) last released its earnings results on Thursday, July 30th. The semiconductor company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.06. The company had revenue of $81.66 million during the quarter, compared to the consensus estimate of $5.96 billion. ASE Technology had a net margin of 8.52% and a return on equity of 16.12%. As a group, research analysts predict that ASE Technology Holding Co., Ltd. will post 1.26 earnings per share for the current fiscal year.

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 testing (OSAT) services, helping chip manufacturers package and test integrated circuits before they are incorporated into electronic products.

Its services include wafer probing, wafer bumping, flip-chip and wire-bond packaging, system-in-package and other advanced packaging technologies, as well as final testing and related engineering services.

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