ASE Technology Holding Co., Ltd. $ASX Stock: Ninety One UK Ltd Raises Holdings

Ninety One UK Ltd lifted its position in ASE Technology Holding Co., Ltd. (NYSE:ASX) by 591.1% during the 3rd quarter, Holdings Channel reports. The firm owned 688,777 shares of the semiconductor company’s stock after buying an additional 589,119 shares during the quarter. Ninety One UK Ltd’s holdings in ASE Technology were worth $30,623,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ASX. Gunderson Capital Management LLC bought a new position in ASE Technology during the 3rd quarter valued at about $9,304,000. Ninety One North America Inc. grew its stake in ASE Technology by 9.7% during the third quarter. Ninety One North America Inc. now owns 498,331 shares of the semiconductor company’s stock worth $22,156,000 after buying an additional 44,110 shares during the last quarter. VMS Asset Management Limited bought a new stake in ASE Technology during the third quarter worth about $5,098,000. Mather Group LLC. acquired a new stake in shares of ASE Technology during the third quarter worth approximately $144,000. Finally, GAMMA Investing LLC increased its holdings in shares of ASE Technology by 4.7% during the third quarter. GAMMA Investing LLC now owns 29,019 shares of the semiconductor company’s stock worth $1,290,000 after buying an additional 1,303 shares in the last quarter. Institutional investors own 6.80% of the company’s stock.

ASE Technology Trading Down 5.3%

ASX opened at $41.98 on Friday. 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 stock has a market capitalization of $93.83 billion, a PE ratio of 48.81 and a beta of 1.66. ASE Technology Holding Co., Ltd. has a 1-year low of $12.31 and a 1-year high of $47.93. The firm has a 50-day moving average price of $40.85 and a two-hundred day moving average price of $36.98.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ASX shares. Wall Street Zen cut shares of ASE Technology from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th. Zacks Research upgraded ASE Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 22nd. Finally, Weiss Ratings upgraded ASE Technology from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

ASE Technology 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.