Acadian Asset Management LLC Reduces Position in ASE Technology Holding Co., Ltd. (NYSE:ASX)

Acadian Asset Management LLC decreased its holdings in ASE Technology Holding Co., Ltd. (NYSE:ASX) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,649,907 shares of the semiconductor company’s stock after selling 211,705 shares during the period. Acadian Asset Management LLC owned 0.44% of ASE Technology worth $110,184,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Russell Investments Group Ltd. grew its stake in ASE Technology by 1,796.7% in the 1st quarter. Russell Investments Group Ltd. now owns 221,531 shares of the semiconductor company’s stock valued at $2,437,000 after buying an additional 209,851 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in ASE Technology during the 1st quarter worth about $812,000. Capstone Investment Advisors LLC boosted its stake in ASE Technology by 640.1% in the 1st quarter. Capstone Investment Advisors LLC now owns 107,192 shares of the semiconductor company’s stock worth $1,178,000 after purchasing an additional 92,708 shares during the period. Moran Wealth Management LLC purchased a new position in ASE Technology during the 4th quarter valued at about $5,345,000. Finally, Virtu Financial LLC bought a new stake in shares of ASE Technology during the fourth quarter valued at about $667,000. Institutional investors own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

ASX has been the subject of several recent analyst reports. StockNews.com cut shares of ASE Technology from a “buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley lowered shares of ASE Technology from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, June 25th.

ASE Technology Price Performance

Shares of NYSE ASX opened at $8.94 on Friday. The firm has a market capitalization of $19.60 billion, a P/E ratio of 19.43, a P/E/G ratio of 0.66 and a beta of 1.22. The company has a quick ratio of 0.90, a current ratio of 1.17 and a debt-to-equity ratio of 0.33. The stock’s 50-day simple moving average is $10.28 and its two-hundred day simple moving average is $10.62. ASE Technology Holding Co., Ltd. has a twelve month low of $7.25 and a twelve month high of $12.86.

ASE Technology (NYSE:ASX) last announced its earnings results on Thursday, July 25th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $4.33 billion during the quarter. ASE Technology had a net margin of 5.38% and a return on equity of 9.90%. During the same quarter in the previous year, the firm earned $0.12 earnings per share. As a group, equities analysts anticipate that ASE Technology Holding Co., Ltd. will post 0.51 EPS 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.