Pinnacle Wealth Planning Services Inc. Has $254,000 Position in ASE Technology Holding Co., Ltd. $ASX

Pinnacle Wealth Planning Services Inc. cut its position in shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) by 20.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,571 shares of the semiconductor company’s stock after selling 6,150 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in ASE Technology were worth $254,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its position in shares of ASE Technology by 35.0% in the 1st quarter. Acadian Asset Management LLC now owns 10,973,038 shares of the semiconductor company’s stock worth $96,110,000 after acquiring an additional 2,842,631 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of 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 purchasing an additional 780,651 shares in the last quarter. Millennium Management LLC lifted its position in ASE Technology by 111.1% in the first quarter. Millennium Management LLC now owns 3,836,018 shares of the semiconductor company’s stock worth $33,604,000 after purchasing an additional 2,018,815 shares during the period. American Century Companies Inc. boosted its stake in ASE Technology by 9.7% during the first quarter. American Century Companies Inc. now owns 2,631,190 shares of the semiconductor company’s stock worth $23,049,000 after buying an additional 233,049 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in ASE Technology by 4.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,437,846 shares of the semiconductor company’s stock valued at $25,183,000 after buying an additional 105,491 shares during the period. Institutional investors and hedge funds own 6.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of ASE Technology from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Weiss Ratings reissued a “hold (c)” rating on shares of ASE Technology in a research report on Wednesday, October 8th. Nomura raised ASE Technology from a “neutral” rating to a “buy” rating in a report on Thursday, October 30th. Finally, Nomura Securities upgraded ASE Technology to a “strong-buy” rating in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, ASE Technology has an average rating of “Buy”.

ASE Technology Price Performance

ASE Technology stock opened at $14.07 on Thursday. ASE Technology Holding Co., Ltd. has a 52 week low of $6.94 and a 52 week high of $16.39. The business’s fifty day moving average is $12.82 and its two-hundred day moving average is $11.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.79 and a current ratio of 1.02. The firm has a market cap of $31.05 billion, a P/E ratio of 29.93, a P/E/G ratio of 0.81 and a beta of 1.45.

ASE Technology (NYSE:ASX) last posted its quarterly earnings data on Thursday, October 30th. The semiconductor company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. ASE Technology had a net margin of 5.48% and a return on equity of 10.33%. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $162.64 billion. Equities research analysts forecast that ASE Technology Holding Co., Ltd. will post 0.76 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.