Pinpoint Asset Management Ltd Invests $1.98 Million 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 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 203,200 shares of the semiconductor company’s stock, valued at approximately $1,983,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Polymer Capital Management HK LTD bought a new position in shares of ASE Technology in the third quarter worth about $1,225,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in ASE Technology by 24.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 336,500 shares of the semiconductor company’s stock worth $3,284,000 after acquiring an additional 66,500 shares during the period. Townsquare Capital LLC lifted its holdings in ASE Technology by 27.5% during the third quarter. Townsquare Capital LLC now owns 74,847 shares of the semiconductor company’s stock valued at $731,000 after purchasing an additional 16,130 shares in the last quarter. FMR LLC boosted its position in shares of ASE Technology by 152.7% in the third quarter. FMR LLC now owns 185,500 shares of the semiconductor company’s stock worth $1,810,000 after purchasing an additional 112,104 shares during the period. Finally, DRW Securities LLC purchased a new stake in shares of ASE Technology in the third quarter worth $810,000. 6.80% of the stock is currently owned by hedge funds and other institutional investors.

ASE Technology Price Performance

ASX stock opened at $9.91 on Wednesday. The company has a market capitalization of $21.75 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 0.71 and a beta of 1.21. The company’s fifty day moving average price is $9.92 and its 200-day moving average price is $10.31. ASE Technology Holding Co., Ltd. has a one year low of $8.10 and a one year high of $12.86. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.89 and a current ratio of 1.18.

ASE Technology (NYSE:ASX) last released its quarterly earnings data 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 net margin of 5.47% and a return on equity of 10.05%. The company had revenue of $4.96 billion for the quarter. During the same period in the previous year, the business earned $0.13 earnings per share. On average, equities analysts anticipate that ASE Technology Holding Co., Ltd. will post 0.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ASX has been the topic of a number of analyst reports. UBS Group upgraded shares of ASE Technology from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 15th. Morgan Stanley raised ASE Technology from an “equal weight” rating to an “overweight” rating in a research note on Monday, September 16th. Finally, StockNews.com downgraded ASE Technology from a “buy” rating to a “hold” rating in a research note on Friday, September 20th.

About ASE Technology

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.