Ovata Capital Management Ltd Sells 611,800 Shares of ASE Technology Holding Co., Ltd. $ASX

Ovata Capital Management Ltd trimmed its position in ASE Technology Holding Co., Ltd. (NYSE:ASX) by 50.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 601,130 shares of the semiconductor company’s stock after selling 611,800 shares during the quarter. ASE Technology comprises approximately 1.4% of Ovata Capital Management Ltd’s holdings, making the stock its 19th biggest position. Ovata Capital Management Ltd’s holdings in ASE Technology were worth $6,259,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in shares of ASE Technology by 154.3% in the second quarter. Farther Finance Advisors LLC now owns 2,746 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 1,666 shares in the last quarter. Brooklyn Investment Group lifted its stake in shares of ASE Technology by 1,084.2% during the 1st quarter. Brooklyn Investment Group now owns 7,650 shares of the semiconductor company’s stock valued at $67,000 after buying an additional 7,004 shares in the last quarter. SVB Wealth LLC bought a new position in ASE Technology in the 1st quarter worth $68,000. Canopy Partners LLC purchased a new stake in ASE Technology in the 1st quarter worth $91,000. Finally, Russell Investments Group Ltd. increased its stake in 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 buying an additional 1,365 shares in the last quarter. Hedge funds and other institutional investors own 6.80% of the company’s stock.

Analysts Set New Price Targets

ASX has been the topic of several research analyst reports. Nomura Securities upgraded ASE Technology to a “strong-buy” rating in a research report on Thursday, October 30th. Nomura upgraded shares of ASE Technology from a “neutral” rating to a “buy” rating in a research report on Thursday, October 30th. Wall Street Zen upgraded ASE Technology from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ASE Technology in a research note on Wednesday, October 8th. One investment 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

ASE Technology Trading Up 3.3%

Shares of NYSE ASX opened at $15.88 on Thursday. 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 business’s 50 day moving average price is $11.97 and its 200-day moving average price is $10.61. ASE Technology Holding Co., Ltd. has a fifty-two week low of $6.94 and a fifty-two week high of $16.39. The company has a market cap of $35.05 billion, a price-to-earnings ratio of 33.79, a PEG ratio of 0.81 and a beta of 1.45.

ASE Technology (NYSE:ASX) last issued its earnings results on Thursday, October 30th. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $162.64 billion. On average, sell-side analysts expect that ASE Technology Holding Co., Ltd. will post 0.76 earnings per share for the current year.

About ASE Technology

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.