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

Ovata Capital Management Ltd raised its holdings in ASE Technology Holding Co., Ltd. (NYSE:ASX) by 57.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 946,821 shares of the semiconductor company’s stock after acquiring an additional 345,691 shares during the quarter. ASE Technology accounts for about 2.1% of Ovata Capital Management Ltd’s holdings, making the stock its 13th biggest position. Ovata Capital Management Ltd’s holdings in ASE Technology were worth $10,372,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its holdings in ASE Technology by 1,704.8% during the third quarter. Smartleaf Asset Management LLC now owns 2,653 shares of the semiconductor company’s stock worth $30,000 after buying an additional 2,506 shares in the last quarter. WealthCollab LLC lifted its position in shares of ASE Technology by 55.2% during the 2nd quarter. WealthCollab LLC now owns 4,850 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 1,726 shares during the period. Farther Finance Advisors LLC lifted its position in shares of ASE Technology by 76.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,852 shares of the semiconductor company’s stock valued at $54,000 after acquiring an additional 2,106 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of ASE Technology by 537.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,928 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 4,155 shares in the last quarter. Finally, MAI Capital Management grew its holdings in shares of ASE Technology by 2,409.6% in the 2nd quarter. MAI Capital Management now owns 4,969 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 4,771 shares during the period. 6.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ASX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ASE Technology in a research note on Wednesday, January 21st. Zacks Research lowered ASE Technology from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. Finally, Wall Street Zen raised ASE Technology from a “hold” rating to a “buy” rating in a research note on Sunday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, ASE Technology presently has an average rating of “Hold”.

ASE Technology Stock Up 1.4%

ASX stock opened at $21.82 on Wednesday. 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 company’s 50 day simple moving average is $21.16 and its 200-day simple moving average is $16.27. ASE Technology Holding Co., Ltd. has a 12 month low of $6.94 and a 12 month high of $25.28. The firm has a market capitalization of $48.41 billion, a PE ratio of 37.63, a P/E/G ratio of 0.89 and a beta of 1.42.

ASE Technology (NYSE:ASX) last posted its 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 company had revenue of $5.67 billion during 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%. Equities analysts expect that ASE Technology Holding Co., Ltd. will post 0.76 earnings per share for the current fiscal year.

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.