E Fund Management Co. Ltd. Trims Position in ASE Technology Holding Co., Ltd. (NYSE:ASX)

E Fund Management Co. Ltd. lessened its stake in shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) by 30.4% in the second quarter, Holdings Channel reports. The institutional investor owned 1,600,000 shares of the semiconductor company’s stock after selling 700,000 shares during the quarter. ASE Technology comprises about 1.0% of E Fund Management Co. Ltd.’s portfolio, making the stock its 18th biggest position. E Fund Management Co. Ltd.’s holdings in ASE Technology were worth $18,272,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its holdings in ASE Technology by 7.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 16,023 shares of the semiconductor company’s stock valued at $183,000 after buying an additional 1,046 shares in the last quarter. Beverly Hills Private Wealth LLC boosted its position in shares of ASE Technology by 5.4% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 22,195 shares of the semiconductor company’s stock valued at $253,000 after acquiring an additional 1,130 shares during the last quarter. Atomi Financial Group Inc. boosted its position in shares of ASE Technology by 3.6% during the 2nd quarter. Atomi Financial Group Inc. now owns 38,924 shares of the semiconductor company’s stock valued at $445,000 after acquiring an additional 1,345 shares during the last quarter. Claro Advisors LLC boosted its position in shares of ASE Technology by 4.2% during the 1st quarter. Claro Advisors LLC now owns 37,798 shares of the semiconductor company’s stock valued at $415,000 after acquiring an additional 1,529 shares during the last quarter. Finally, DGS Capital Management LLC boosted its position in shares of ASE Technology by 4.6% during the 1st quarter. DGS Capital Management LLC now owns 58,861 shares of the semiconductor company’s stock valued at $647,000 after acquiring an additional 2,580 shares during the last quarter. Hedge funds and other institutional investors own 6.80% of the company’s stock.

ASE Technology Price Performance

Shares of ASE Technology stock opened at $9.76 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.17 and a quick ratio of 0.90. ASE Technology Holding Co., Ltd. has a one year low of $7.25 and a one year high of $12.86. The stock has a market capitalization of $21.40 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 0.63 and a beta of 1.22. The business’s 50 day simple moving average is $10.02 and its two-hundred day simple moving average is $10.61.

ASE Technology (NYSE:ASX) last posted 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. ASE Technology had a return on equity of 9.90% and a net margin of 5.38%. The firm had revenue of $4.33 billion for the quarter. During the same period last year, the firm posted $0.12 earnings per share. Analysts forecast that ASE Technology Holding Co., Ltd. will post 0.51 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ASX shares. Morgan Stanley upgraded ASE Technology from an “equal weight” rating to an “overweight” rating in a research report on Monday. StockNews.com upgraded ASE Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th.

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.