Ovata Capital Management Ltd Reduces Position in ASE Technology Holding Co., Ltd. $ASX

Ovata Capital Management Ltd decreased its stake in shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) by 62.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 352,320 shares of the semiconductor company’s stock after selling 594,501 shares during the period. ASE Technology accounts for 1.1% of Ovata Capital Management Ltd’s investment portfolio, making the stock its 21st biggest position. Ovata Capital Management Ltd’s holdings in ASE Technology were worth $5,785,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Capula Management Ltd increased its position in ASE Technology by 200.4% during the third quarter. Capula Management Ltd now owns 650,494 shares of the semiconductor company’s stock worth $7,214,000 after buying an additional 433,965 shares in the last quarter. American Century Companies Inc. increased its position in ASE Technology by 15.6% during the third quarter. American Century Companies Inc. now owns 3,674,784 shares of the semiconductor company’s stock worth $40,753,000 after buying an additional 494,569 shares in the last quarter. JPMorgan Chase & Co. increased its position in ASE Technology by 55.6% during the third quarter. JPMorgan Chase & Co. now owns 2,958,901 shares of the semiconductor company’s stock worth $32,814,000 after buying an additional 1,057,046 shares in the last quarter. Schroder Investment Management Group increased its position in ASE Technology by 38.4% during the third quarter. Schroder Investment Management Group now owns 7,258,450 shares of the semiconductor company’s stock worth $80,787,000 after buying an additional 2,012,970 shares in the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in ASE Technology during the third quarter worth $1,422,000. Hedge funds and other institutional investors own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Zacks Research raised ASE Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Wall Street Zen raised ASE Technology from a “hold” rating to a “buy” rating in a research report on Sunday, April 5th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

ASE Technology Price Performance

Shares of NYSE:ASX opened at $38.35 on Friday. The company has a market cap of $85.28 billion, a P/E ratio of 56.40, a P/E/G ratio of 0.80 and a beta of 1.72. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 0.53. ASE Technology Holding Co., Ltd. has a 52 week low of $9.30 and a 52 week high of $41.10. The business has a fifty day simple moving average of $30.44 and a 200-day simple moving average of $22.93.

ASE Technology (NYSE:ASX) last announced its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.32 billion. ASE Technology had a return on equity of 13.48% and a net margin of 7.03%. Equities research analysts forecast that ASE Technology Holding Co., Ltd. will post 1.05 EPS for the current year.

ASE Technology Company 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.