ASE Technology Holding Co., Ltd.
ASX · Semiconductors & Related Devices · EDGAR filings ↗
Reference price $697.00 — last insider sale, 2026-06-23 (estimated from the dated SEC Form 4 price — not a live quote)
Grade
C67Largest OSAT player with mid-pack returns, thin margins and negative free cash flow.
Strengths
- Scale leadership; net income growth 27% (73.7th) and OCF margin 22% (61.3rd)
- Adequate ROE 11.2% (66.7th) and ROA 4.6% (62nd)
Risks
- Low gross margin 17.7% (16.2nd) and negative FCF -$715M (5.3rd) from capex intensity
- Weak liquidity: current ratio 1.26 (9.5th), quick ratio 1.0 (9.5th)
- Highly cyclical, high-fixed-cost model with customer concentration and Taiwan/PRC geopolitical risk
Notable findings
- Cash burnNegative free cash flow (-713.8M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Strong balance sheetStrong balance sheet — $2.9B cash & investments, ~16 quarters of runway
- Insider sellingInsider selling — 32 open-market sale(s) by 3 insider(s) (cluster of 3 insiders, ~$357M, last 6mo) Form 4 ↗
- AccumulatingInstitutional holders rose 7→8 QoQ (2025-12-31→2026-03-31)
- Notable holderHeld by 4 notable fund(s): GOLDMAN SACHS GROUP INC, Bridgewater Associates, LP, CITADEL ADVISORS LLC +1 more (as of 2026-03-31)
- New fund positionNotable fund(s) opened this quarter: Bridgewater Associates, LP
Key metrics
Gross margin
17.7%
Operating margin
8.0%
Net margin
6.4%
Return on equity
11.2%
Return on assets
4.6%
Revenue growth (QoQ)
13.0%
Net-income growth
27.0%
Interest coverage
6.9×
Current ratio
1.3×
Free cash flow
-$714M
Tangible book value
$10.1B
Cash & investments
$2.9B
Cash runway
16q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-23 | Uang Du-Tsuen | Sell | 3.0K | $697.00 |
| 2026-06-22 | Uang Du-Tsuen | Sell | 5.0K | $667.00 |
| 2026-06-18 | Uang Du-Tsuen | Sell | 3.0K | $611.00 |
| 2026-06-03 | Uang Du-Tsuen | Sell | 5.0K | $617.00 |
| 2026-06-01 | Uang Du-Tsuen | Sell | 5.0K | $607.00 |
| 2026-05-27 | Chen Jeffrey | Sell | 2.0K | $653.00 |
| 2026-05-26 | Chen Jeffrey | Sell | 9.0K | $630.00 |
| 2026-05-25 | Chen Jeffrey | Sell | 9.0K | $590.00 |
| 2026-05-22 | Chen Jeffrey | Sell | 9.0K | $538.00 |
| 2026-05-21 | Chen Jeffrey | Sell | 9.0K | $505.00 |
| 2026-05-20 | Chen Jeffrey | Sell | 9.0K | $477.00 |
| 2026-05-19 | Chen Jeffrey | Sell | 9.0K | $483.00 |
| 2026-05-18 | Chen Jeffrey | Sell | 9.0K | $506.00 |
| 2026-05-15 | Chen Jeffrey | Sell | 9.0K | $563.00 |
| 2026-05-14 | Chen Jeffrey | Sell | 9.0K | $560.00 |
| 2026-04-24 | Chen Jeffrey | Sell | 9.0K | $473.00 |
| 2026-04-23 | Chen Jeffrey | Sell | 9.0K | $487.67 |
| 2026-04-22 | Chen Jeffrey | Sell | 9.0K | $466.50 |
| 2026-04-21 | Chen Jeffrey | Sell | 9.0K | $463.50 |
| 2026-04-20 | Chen Tien-Szu | Sell | 328K | $465.11 |
| 2026-04-20 | Chen Tien-Szu | Sell | 72K | $466.00 |
| 2026-04-20 | Chen Tien-Szu | Sell | 50K | $467.00 |
| 2026-04-20 | Chen Tien-Szu | Sell | 80K | $471.00 |
| 2026-04-20 | Chen Jeffrey | Sell | 9.0K | $461.50 |
| 2026-04-17 | Chen Jeffrey | Sell | 9.0K | $454.00 |
| 2026-04-16 | Chen Jeffrey | Sell | 9.0K | $446.00 |
| 2026-04-15 | Chen Jeffrey | Sell | 9.0K | $432.00 |
| 2026-04-14 | Chen Jeffrey | Sell | 9.0K | $427.00 |
| 2026-04-13 | Chen Jeffrey | Sell | 9.0K | $408.33 |
| 2026-04-10 | Chen Jeffrey | Sell | 9.0K | $387.00 |
| 2026-04-09 | Chang Chien Shen | Option exercise | 3.0M | $41.10 |
| 2026-04-09 | Chang Chien Shen | Option exercise | 1.5M | $99.70 |
| 2026-04-09 | Chen Jeffrey | Sell | 9.0K | $388.00 |
| 2026-04-08 | Chen Jeffrey | Sell | 9.0K | $380.50 |
All non-derivative Form 4 activity (SEC), newest first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-01 | 2025-12-31 | 0001193125-26-135585 ↗ |
| 20-F | 2025-03-27 | 2024-12-31 | 0001193125-25-064603 ↗ |
| 20-F | 2024-04-03 | 2023-12-31 | 0001193125-24-085380 ↗ |
| 20-F | 2023-04-10 | 2022-12-31 | 0001193125-23-095811 ↗ |
| 20-F | 2022-03-29 | 2021-12-31 | 0001193125-22-087341 ↗ |
| 20-F | 2021-04-06 | 2020-12-31 | 0000950103-21-005259 ↗ |
| 20-F | 2020-03-31 | 2019-12-31 | 0000950103-20-006422 ↗ |
| 20-F | 2019-04-26 | 2018-12-31 | 0000950103-19-005149 ↗ |
| 20-F | 2018-03-28 | 2017-12-31 | 0000950103-18-003940 ↗ |
| 20-F | 2017-04-21 | 2016-12-31 | 0000950103-17-003702 ↗ |
| 20-F | 2016-04-29 | 2015-12-31 | 0000950103-16-012959 ↗ |
| 20-F | 2015-03-18 | 2014-12-31 | 0000950103-15-002171 ↗ |