PNC Financial Services Group Inc. Buys 18,511 Shares of ASE Technology Holding Co., Ltd. $ASX

PNC Financial Services Group Inc. lifted its stake in shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) by 21.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,520 shares of the semiconductor company’s stock after purchasing an additional 18,511 shares during the quarter. PNC Financial Services Group Inc.’s holdings in ASE Technology were worth $1,069,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ASX. Farther Finance Advisors LLC increased its position in ASE Technology by 154.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,746 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 1,666 shares in the last quarter. Brooklyn Investment Group grew its stake in ASE Technology by 1,084.2% in the first quarter. Brooklyn Investment Group now owns 7,650 shares of the semiconductor company’s stock valued at $67,000 after acquiring an additional 7,004 shares during the period. SVB Wealth LLC bought a new stake in shares of ASE Technology during the first quarter valued at approximately $68,000. Canopy Partners LLC acquired a new position in shares of ASE Technology during the first quarter worth approximately $91,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of ASE Technology by 14.9% in the 1st quarter. Russell Investments Group Ltd. now owns 10,506 shares of the semiconductor company’s stock worth $92,000 after purchasing an additional 1,365 shares in the last quarter. 6.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

ASE Technology Stock Performance

NYSE ASX opened at $13.75 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.79. The company has a fifty day moving average price of $12.87 and a 200-day moving average price of $11.06. ASE Technology Holding Co., Ltd. has a 1 year low of $6.94 and a 1 year high of $16.39. The firm has a market cap of $30.34 billion, a price-to-earnings ratio of 29.25, a PEG ratio of 0.81 and a beta of 1.45.

ASE Technology (NYSE:ASX) last released its quarterly earnings results on Thursday, October 30th. The semiconductor company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $162.64 billion. ASE Technology had a net margin of 5.48% and a return on equity of 10.33%. As a group, equities research analysts predict that ASE Technology Holding Co., Ltd. will post 0.76 EPS for the current fiscal year.

ASE Technology 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.