JPMorgan Chase & Co. Raises Stock Position in ASE Technology Holding Co., Ltd. $ASX

JPMorgan Chase & Co. grew its stake in ASE Technology Holding Co., Ltd. (NYSE:ASX) by 55.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,958,901 shares of the semiconductor company’s stock after purchasing an additional 1,057,046 shares during the quarter. JPMorgan Chase & Co.’s holdings in ASE Technology were worth $32,814,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Tudor Investment Corp ET AL bought a new stake in shares of ASE Technology during the 3rd quarter valued at about $143,000. Allworth Financial LP increased its position in shares of ASE Technology by 49.2% during the third quarter. Allworth Financial LP now owns 7,022 shares of the semiconductor company’s stock valued at $78,000 after buying an additional 2,316 shares during the period. Ovata Capital Management Ltd raised its stake in ASE Technology by 57.5% in the third quarter. Ovata Capital Management Ltd now owns 946,821 shares of the semiconductor company’s stock worth $10,372,000 after buying an additional 345,691 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in 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. Finally, First Affirmative Financial Network lifted its holdings in ASE Technology by 18.5% in the third quarter. First Affirmative Financial Network now owns 40,686 shares of the semiconductor company’s stock worth $451,000 after buying an additional 6,342 shares during the period. 6.80% of the stock is owned by hedge funds and other institutional investors.

ASE Technology Stock Down 2.9%

NYSE:ASX opened at $21.27 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.28 and a quick ratio of 1.00. The firm’s 50-day moving average price is $21.41 and its 200-day moving average price is $16.51. The company has a market capitalization of $47.19 billion, a PE ratio of 36.68, a P/E/G ratio of 0.88 and a beta of 1.42. ASE Technology Holding Co., Ltd. has a 1-year low of $6.94 and a 1-year high of $25.28.

ASE Technology (NYSE:ASX) last issued its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.09). The business had revenue of $5.67 billion for the quarter, compared to analysts’ expectations of $5.47 billion. ASE Technology had a net margin of 6.31% and a return on equity of 12.00%. On average, equities analysts predict that ASE Technology Holding Co., Ltd. will post 0.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ASX has been the topic of a number of research analyst reports. Wall Street Zen upgraded ASE Technology from a “hold” rating to a “buy” rating in a report on Sunday, March 15th. Weiss Ratings reissued a “hold (c)” rating on shares of ASE Technology in a research report on Wednesday, January 21st. Finally, Zacks Research cut ASE Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

About ASE Technology

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.