Ramirez Asset Management Inc. Sells 14,885 Shares of ASE Technology Holding Co., Ltd. $ASX

Ramirez Asset Management Inc. lessened its holdings in ASE Technology Holding Co., Ltd. (NYSE:ASX) by 3.3% in the fourth quarter, HoldingsChannel reports. The fund owned 438,537 shares of the semiconductor company’s stock after selling 14,885 shares during the period. Ramirez Asset Management Inc.’s holdings in ASE Technology were worth $7,060,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ASX. Nisa Investment Advisors LLC bought a new stake in shares of ASE Technology in the fourth quarter valued at about $27,000. Smartleaf Asset Management LLC lifted its position 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 purchasing an additional 2,506 shares during the period. Eagle Bay Advisors LLC bought a new stake in ASE Technology during the fourth quarter worth about $32,000. SBI Securities Co. Ltd. lifted its position in ASE Technology by 256.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,495 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 1,795 shares during the period. Finally, WealthCollab LLC lifted its position in ASE Technology by 55.2% during the second quarter. WealthCollab LLC now owns 4,850 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 1,726 shares during the period. Institutional investors own 6.80% of the company’s stock.

ASE Technology Stock Down 11.4%

ASX stock opened at $34.01 on Friday. The stock has a market capitalization of $75.61 billion, a P/E ratio of 50.01, a price-to-earnings-growth ratio of 0.68 and a beta of 1.72. The company has a current ratio of 1.15, a quick ratio of 0.89 and a debt-to-equity ratio of 0.53. ASE Technology Holding Co., Ltd. has a 12 month low of $9.30 and a 12 month high of $41.10. The firm has a 50-day moving average price of $30.67 and a 200-day moving average price of $23.01.

ASE Technology (NYSE:ASX) last posted its earnings results 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 firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.32 billion. ASE Technology had a net margin of 7.03% and a return on equity of 13.48%. As a group, equities research analysts anticipate that ASE Technology Holding Co., Ltd. will post 1.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ASX has been the subject of several recent analyst reports. Wall Street Zen raised shares of ASE Technology from a “hold” rating to a “buy” rating in a research report on Sunday, April 5th. Zacks Research raised shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy”.

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.