ASE Technology (NYSE:ASX) Shares Down 8.9% - Time to Sell?

Key Points

• ASE Technology's stock fell 8.9% to $9.42, with a significant trading volume decline of 75% compared to its average session volume.
• The company reported earnings per share of $0.10, missing estimates of $0.12, and generated $4.59 billion in revenue, falling short of the consensus estimate.
• ASE Technology announced an increase in its annual dividend to $0.359 per share, with a yield of 230.0%, payable on August 6th.

ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report)'s stock price fell 8.9% on Thursday . The stock traded as low as $9.30 and last traded at $9.42. 2,815,414 shares traded hands during trading, a decline of 75% from the average session volume of 11,285,112 shares. The stock had previously closed at $10.33.

ASE Technology Trading Down 8.2%

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.04. The firm has a 50 day simple moving average of $10.18 and a two-hundred day simple moving average of $9.79. The firm has a market capitalization of $20.94 billion, a P/E ratio of 20.16, a PEG ratio of 0.56 and a beta of 1.24.

ASE Technology (NYSE:ASX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). The company had revenue of $4.59 billion for the quarter, compared to the consensus estimate of $143.62 billion. ASE Technology had a net margin of 5.62% and a return on equity of 10.35%. Equities research analysts forecast that ASE Technology Holding Co., Ltd. will post 0.76 earnings per share for the current year.

ASE Technology Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 2nd will be paid a dividend of $0.359 per share. This represents a dividend yield of 230.0%. The ex-dividend date 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 (DPR) is presently 55.32%.

Institutional Investors Weigh In On ASE Technology

A number of hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC increased its holdings in ASE Technology by 35.0% in the 1st quarter. Acadian Asset Management LLC now owns 10,973,038 shares of the semiconductor company's stock worth $96,110,000 after acquiring an additional 2,842,631 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in ASE Technology by 15.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,775,272 shares of the semiconductor company's stock worth $50,591,000 after acquiring an additional 780,651 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in ASE Technology by 36.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,861,813 shares of the semiconductor company's stock worth $48,958,000 after acquiring an additional 1,290,605 shares during the last quarter. Cullen Capital Management LLC increased its holdings in ASE Technology by 0.3% in the 4th quarter. Cullen Capital Management LLC now owns 4,424,100 shares of the semiconductor company's stock worth $44,551,000 after acquiring an additional 14,831 shares during the last quarter. Finally, Schroder Investment Management Group increased its position in shares of ASE Technology by 0.3% during the fourth quarter. Schroder Investment Management Group now owns 4,371,391 shares of the semiconductor company's stock valued at $44,370,000 after buying an additional 12,767 shares during the period. 6.80% of the stock is currently owned by institutional investors.

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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