NewEdge Wealth LLC Makes New Investment in ASE Technology Holding Co., Ltd. $ASX

NewEdge Wealth LLC bought a new position in ASE Technology Holding Co., Ltd. (NYSE:ASX) during the third quarter, according to its most recent filing with the SEC. The firm bought 37,087 shares of the semiconductor company’s stock, valued at approximately $411,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ASX. Smartleaf Asset Management LLC raised its holdings in shares of ASE Technology by 1,704.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,653 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 2,506 shares during the last quarter. WealthCollab LLC increased its holdings in ASE Technology by 55.2% during the 2nd quarter. WealthCollab LLC now owns 4,850 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 1,726 shares in the last quarter. MAI Capital Management lifted its holdings in shares of ASE Technology by 2,409.6% in the second quarter. MAI Capital Management now owns 4,969 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 4,771 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of ASE Technology by 537.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,928 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 4,155 shares in the last quarter. Finally, Headlands Technologies LLC boosted its position in shares of ASE Technology by 549.8% during the second quarter. Headlands Technologies LLC now owns 5,153 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 4,360 shares during the last quarter. Institutional investors own 6.80% of the company’s stock.

ASE Technology Stock Performance

Shares of ASX stock opened at $24.84 on Wednesday. ASE Technology Holding Co., Ltd. has a 12 month low of $6.94 and a 12 month high of $25.04. The stock has a market capitalization of $55.09 billion, a P/E ratio of 42.82, a PEG ratio of 0.97 and a beta of 1.48. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average is $19.20 and its 200 day moving average is $14.94.

ASE Technology (NYSE:ASX) last posted its earnings results on Thursday, February 5th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.09). The company had revenue of $5.67 billion for the quarter, compared to analysts’ expectations of $5.47 billion. ASE Technology had a return on equity of 12.00% and a net margin of 6.31%. On average, sell-side analysts anticipate that ASE Technology Holding Co., Ltd. will post 0.76 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ASX. Weiss Ratings reiterated a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, January 21st. Wall Street Zen raised shares of ASE Technology from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Nomura raised shares of ASE Technology from a “neutral” rating to a “buy” rating in a research report on Thursday, October 30th. Finally, Zacks Research downgraded ASE Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

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.