15 AI Stocks That Are On Sale

10. ASE Technology Holding Co., Ltd. (NYSE:ASX)

Number of Hedge Fund Holders: 8

Expected Earnings Growth: 17.4%

P/E Ratio: 18.6

ASE Technology Holding Co., Ltd. (NYSE:ASX) is a Taiwan-based semiconductor company. It offers semiconductor packaging and testing services alongside electronic manufacturing services.

ASE Technology Holding Co., Ltd. (NYSE:ASX) has been garnering investor attention because of the crucial role it plays in the semiconductor industry since it provides front-end outsourced packaging, testing, and electronic services to semiconductor manufacturers. The company has a reassuring growth trajectory since it has grown revenue by 4.3% over the past three years and by 7.9% over the past five years.

Seeing as ASE Technology Holding Co., Ltd. (NYSE:ASX) is dedicated to meeting growing AI demand, many investors may benefit from considering this stock as an addition to their portfolios. The company is a less traditional player in the semiconductor space, which is why it is largely ignored in the market and is thus heavily undervalued relative to other players in the semiconductor space.

ASE Technology Holding Co., Ltd. (NYSE:ASX) has also recently launched a new testing facility in San Jose to expand advanced chip testing capacity. The new facility is expected to be essential for satisfying customers’ rising engineering needs for emerging semiconductor applications such as AI. Through such initiatives, ASE Technology Holding Co., Ltd. (NYSE:ASX) is slowly emerging as an attractive AI investment for many investors.

Eight hedge funds were long ASE Technology Holding Co., Ltd. (NYSE:ASX) in the second quarter, with a total stake value of $184.8 million.