ASE Technology (NYSE:ASX) Shares Gap Up - Here's Why

Key Points

• ASE Technology's shares gapped up from $9.50 to $10.02 prior to trading on Friday, with the last trade at $9.96 and a trading volume of 1,700,454 shares.
• The company reported earnings per share of $0.11 for the last quarter, which missed analysts' estimates of $0.14, alongside a revenue of $5.07 billion.
• ASE Technology announced an increase in its annual dividend to $0.359 from the previous $0.32, representing a dividend yield of 230.0% and a payout ratio of 55.32%.

ASE Technology Holding Co., Ltd. (NYSE:ASX - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $9.50, but opened at $10.02. ASE Technology shares last traded at $9.96, with a volume of 1,700,454 shares.

ASE Technology Stock Down 2.6%

The company has a market capitalization of $21.46 billion, a P/E ratio of 20.68, a PEG ratio of 0.56 and a beta of 1.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.79. The company has a 50 day moving average of $10.19 and a 200-day moving average of $9.77.

ASE Technology (NYSE:ASX - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.03). The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $150.44 billion. ASE Technology had a return on equity of 10.33% and a net margin of 5.48%. As a group, equities analysts anticipate that ASE Technology Holding Co., Ltd. will post 0.76 EPS 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 issued a dividend of $0.359 per share. The ex-dividend date is Wednesday, July 2nd. This is a positive change from ASE Technology's previous annual dividend of $0.32. This represents a dividend yield of 230.0%. ASE Technology's dividend payout ratio (DPR) is 55.32%.

Institutional Trading of ASE Technology

Several institutional investors have recently bought and sold shares of ASX. Greenleaf Trust raised its position in ASE Technology by 8.8% in the 2nd quarter. Greenleaf Trust now owns 11,801 shares of the semiconductor company's stock worth $122,000 after buying an additional 952 shares during the last quarter. Rehmann Capital Advisory Group lifted its position in ASE Technology by 9.6% during the second quarter. Rehmann Capital Advisory Group now owns 11,128 shares of the semiconductor company's stock valued at $115,000 after purchasing an additional 973 shares during the period. Legacy Financial Advisors Inc. boosted its holdings in ASE Technology by 5.3% in the first quarter. Legacy Financial Advisors Inc. now owns 20,611 shares of the semiconductor company's stock worth $181,000 after purchasing an additional 1,042 shares during the last quarter. Choreo LLC grew its holdings in shares of ASE Technology by 10.7% in the first quarter. Choreo LLC now owns 11,520 shares of the semiconductor company's stock worth $101,000 after acquiring an additional 1,113 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of ASE Technology by 9.1% during the 4th quarter. Franklin Resources Inc. now owns 15,526 shares of the semiconductor company's stock valued at $156,000 after purchasing an additional 1,290 shares during the last quarter. 6.80% of the stock is owned by hedge funds and other 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.