ASE Technology (NYSE:ASX) Releases Earnings Results, Misses Expectations By $0.03 EPS

Key Points

• ASE Technology reported earnings of $0.11 per share, which fell short of analysts' expectations by $0.03.
• The company announced an annual dividend increase to $0.359 per share, representing a significant yield of 230.0%.
• Institutional ownership of the stock stands at 6.80%, with Jones Financial Companies recently raising its stake by 16.9%.

ASE Technology (NYSE:ASX - Get Free Report) released its quarterly earnings data on Thursday. The semiconductor company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.03), Zacks reports. ASE Technology had a return on equity of 10.32% and a net margin of 5.48%. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $150.44 billion.

ASE Technology Price Performance

ASE Technology stock traded up $0.52 during trading hours on Friday, hitting $10.02. 11,115,674 shares of the company traded hands, compared to its average volume of 7,313,204. The firm has a market cap of $22.12 billion, a P/E ratio of 21.32, a P/E/G ratio of 0.58 and a beta of 1.22. The company has a quick ratio of 0.82, a current ratio of 1.04 and a debt-to-equity ratio of 0.44. The firm's 50-day simple moving average is $10.19 and its two-hundred day simple moving average is $9.79. ASE Technology has a 1-year low of $6.94 and a 1-year high of $11.36.

ASE Technology Increases Dividend

The business also recently announced an annual dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 2nd will be paid a dividend of $0.359 per share. This represents a yield of 230.0%. The ex-dividend date of this dividend is Wednesday, July 2nd. This is a positive change from ASE Technology's previous annual dividend of $0.32. ASE Technology's dividend payout ratio is 55.32%.

Hedge Funds Weigh In On ASE Technology

A hedge fund recently raised its stake in ASE Technology stock. Jones Financial Companies Lllp raised its stake in shares of ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) by 16.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,425 shares of the semiconductor company's stock after buying an additional 1,943 shares during the period. Jones Financial Companies Lllp's holdings in ASE Technology were worth $118,000 as of its most recent SEC filing. Institutional investors own 6.80% of the company's stock.

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.

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