Pinpoint Asset Management Ltd Purchases New Shares in ASE Technology Holding Co., Ltd. (NYSE:ASX)

Pinpoint Asset Management Ltd bought a new stake in shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 203,200 shares of the semiconductor company’s stock, valued at approximately $1,983,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Ashton Thomas Private Wealth LLC purchased a new stake in ASE Technology in the second quarter worth $43,000. Fifth Third Bancorp lifted its holdings in ASE Technology by 423.8% during the 2nd quarter. Fifth Third Bancorp now owns 6,537 shares of the semiconductor company’s stock valued at $75,000 after buying an additional 5,289 shares in the last quarter. Werba Rubin Papier Wealth Management purchased a new stake in ASE Technology in the 3rd quarter valued at about $100,000. Cetera Advisors LLC bought a new position in ASE Technology in the 1st quarter worth about $120,000. Finally, D Orazio & Associates Inc. purchased a new position in shares of ASE Technology during the second quarter worth approximately $126,000. 6.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ASX shares. StockNews.com cut ASE Technology from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Morgan Stanley upgraded ASE Technology from an “equal weight” rating to an “overweight” rating in a research note on Monday, September 16th. Finally, UBS Group upgraded shares of ASE Technology from a “neutral” rating to a “buy” rating in a report on Tuesday, October 15th.

ASE Technology Stock Performance

Shares of NYSE:ASX opened at $9.91 on Wednesday. The firm has a 50 day moving average of $9.92 and a 200 day moving average of $10.31. The company has a quick ratio of 0.89, a current ratio of 1.18 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $21.75 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 0.71 and a beta of 1.21. ASE Technology Holding Co., Ltd. has a 52 week low of $8.10 and a 52 week high of $12.86.

ASE Technology (NYSE:ASX) last released its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02). ASE Technology had a return on equity of 10.05% and a net margin of 5.47%. The company had revenue of $4.96 billion during the quarter. During the same period last year, the firm posted $0.13 earnings per share. On average, sell-side analysts predict that ASE Technology Holding Co., Ltd. will post 0.48 earnings per share for the current fiscal year.

ASE Technology Company 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.