ASE Technology Holding Co., Ltd. $ASX Shares Sold by Ovata Capital Management Ltd

Ovata Capital Management Ltd lowered its position in ASE Technology Holding Co., Ltd. (NYSE:ASX) by 62.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 352,320 shares of the semiconductor company’s stock after selling 594,501 shares during the quarter. ASE Technology accounts for 1.1% of Ovata Capital Management Ltd’s holdings, making the stock its 21st largest holding. Ovata Capital Management Ltd’s holdings in ASE Technology were worth $5,785,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in ASE Technology by 9.6% in the third quarter. Bank of America Corp DE now owns 9,661,484 shares of the semiconductor company’s stock valued at $107,146,000 after acquiring an additional 846,300 shares during the last quarter. UBS Group AG boosted its holdings in ASE Technology by 11.4% in the fourth quarter. UBS Group AG now owns 9,038,322 shares of the semiconductor company’s stock valued at $145,517,000 after acquiring an additional 922,692 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings in ASE Technology by 50.9% in the second quarter. Rafferty Asset Management LLC now owns 7,392,190 shares of the semiconductor company’s stock valued at $76,361,000 after acquiring an additional 2,491,918 shares during the last quarter. Schroder Investment Management Group boosted its holdings in ASE Technology by 38.4% in the third quarter. Schroder Investment Management Group now owns 7,258,450 shares of the semiconductor company’s stock valued at $80,787,000 after acquiring an additional 2,012,970 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in ASE Technology by 15.6% in the first quarter. Goldman Sachs Group Inc. now owns 5,775,272 shares of the semiconductor company’s stock valued at $50,591,000 after acquiring an additional 780,651 shares during the last quarter. Institutional investors and hedge funds own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ASX shares. Zacks Research upgraded ASE Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Wall Street Zen upgraded ASE Technology from a “hold” rating to a “buy” rating in a research note on Sunday, April 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, ASE Technology currently has a consensus rating of “Buy”.

ASE Technology Trading Down 3.9%

Shares of ASX opened at $38.35 on Friday. The stock’s 50-day moving average is $30.44 and its two-hundred day moving average is $22.93. The stock has a market cap of $85.28 billion, a PE ratio of 56.40, a P/E/G ratio of 0.80 and a beta of 1.72. ASE Technology Holding Co., Ltd. has a 12 month low of $9.30 and a 12 month high of $41.10. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.15 and a quick ratio of 0.89.

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

ASE Technology 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.