Citigroup Inc. Cuts Stake in ASE Technology Holding Co., Ltd. $ASX

Citigroup Inc. lessened its holdings in ASE Technology Holding Co., Ltd. (NYSE:ASX) by 35.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,542,886 shares of the semiconductor company’s stock after selling 1,399,274 shares during the period. Citigroup Inc. owned approximately 0.12% of ASE Technology worth $28,201,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Frank Rimerman Advisors LLC raised its stake in shares of ASE Technology by 1.8% in the third quarter. Frank Rimerman Advisors LLC now owns 36,780 shares of the semiconductor company’s stock valued at $408,000 after acquiring an additional 650 shares in the last quarter. Global Retirement Partners LLC raised its position in ASE Technology by 16.1% in the 3rd quarter. Global Retirement Partners LLC now owns 5,921 shares of the semiconductor company’s stock valued at $66,000 after purchasing an additional 823 shares in the last quarter. CWM LLC grew its position in shares of ASE Technology by 5.0% during the third quarter. CWM LLC now owns 17,578 shares of the semiconductor company’s stock worth $195,000 after buying an additional 838 shares in the last quarter. MGO One Seven LLC grew its position in shares of ASE Technology by 8.7% during the third quarter. MGO One Seven LLC now owns 10,906 shares of the semiconductor company’s stock worth $121,000 after buying an additional 872 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its stake in shares of ASE Technology by 12.2% during the third quarter. Wilmington Savings Fund Society FSB now owns 8,454 shares of the semiconductor company’s stock worth $94,000 after buying an additional 917 shares during the period. Hedge funds and other institutional investors own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Zacks Research downgraded shares of ASE Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Nomura upgraded shares of ASE Technology from a “neutral” rating to a “buy” rating in a research note on Thursday, October 30th. Weiss Ratings reissued a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, January 21st. Finally, Wall Street Zen upgraded ASE Technology from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ASE Technology currently has an average rating of “Hold”.

ASE Technology Trading Up 1.4%

Shares of ASE Technology stock opened at $25.16 on Thursday. 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 company has a fifty day simple moving average of $19.41 and a 200-day simple moving average of $15.02. The stock has a market cap of $55.80 billion, a price-to-earnings ratio of 43.38, a PEG ratio of 1.03 and a beta of 1.48. ASE Technology Holding Co., Ltd. has a 12-month low of $6.94 and a 12-month high of $25.29.

ASE Technology (NYSE:ASX) last announced its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.09). ASE Technology had a return on equity of 12.00% and a net margin of 6.31%.The company had revenue of $5.67 billion for the quarter, compared to analyst estimates of $5.47 billion. On average, equities analysts forecast that ASE Technology Holding Co., Ltd. will post 0.76 EPS for the current fiscal year.

ASE Technology Company 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.