315,750 Shares in ASE Technology Holding Co., Ltd. $ASX Acquired by Nykredit A S

Key Points

• Nykredit A S acquired 315,750 shares of ASE Technology in the second quarter, valued at approximately $14.25 million.
• Several major institutions increased their ASE Technology holdings, while institutional investors and hedge funds collectively owned 6.8% of the company’s stock.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating. ASE also beat quarterly EPS estimates, reporting $0.29 versus expectations of $0.23, and increased its annual dividend to $0.4171 per share.

Nykredit A S bought a new position in ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 315,750 shares of the semiconductor company's stock, valued at approximately $14,247,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Lazard Asset Management LLC increased its stake in shares of ASE Technology by 11.1% in the 4th quarter. Lazard Asset Management LLC now owns 20,010,829 shares of the semiconductor company's stock valued at $322,174,000 after acquiring an additional 1,997,888 shares in the last quarter. Morgan Stanley boosted its stake in ASE Technology by 14.3% during the fourth quarter. Morgan Stanley now owns 10,607,588 shares of the semiconductor company's stock worth $170,782,000 after acquiring an additional 1,330,580 shares in the last quarter. Bank of America Corp DE grew its holdings in ASE Technology by 9.6% in the third quarter. Bank of America Corp DE now owns 9,661,484 shares of the semiconductor company's stock worth $107,146,000 after purchasing an additional 846,300 shares during the period. Rafferty Asset Management LLC increased its stake in ASE Technology by 50.9% in the second quarter. Rafferty Asset Management LLC now owns 7,392,190 shares of the semiconductor company's stock valued at $76,361,000 after purchasing an additional 2,491,918 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of ASE Technology by 15.6% during the first quarter. Goldman Sachs Group Inc. now owns 5,775,272 shares of the semiconductor company's stock valued at $50,591,000 after purchasing an additional 780,651 shares during the period. 6.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on ASX. Weiss Ratings upgraded ASE Technology from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Zacks Research lowered ASE Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, August 24th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, ASE Technology presently has a consensus rating of "Moderate Buy".

ASE Technology Stock Up 0.4%

ASE Technology stock opened at $37.59 on Friday. The firm has a market capitalization of $84.02 billion, a price-to-earnings ratio of 43.71 and a beta of 1.71. The firm's fifty day moving average price is $38.59 and its two-hundred day moving average price is $32.70. ASE Technology Holding Co., Ltd. has a 1-year low of $10.34 and a 1-year high of $45.51. The company has a current ratio of 1.07, a quick ratio of 0.81 and a debt-to-equity ratio of 0.54.

ASE Technology (NYSE:ASX - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.06. The business had revenue of $81.66 million during the quarter, compared to the consensus estimate of $5.96 billion. ASE Technology had a return on equity of 16.12% and a net margin of 8.52%. On average, equities research analysts predict that ASE Technology Holding Co., Ltd. will post 1.21 earnings per share for the current fiscal year.

ASE Technology Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, August 7th. Investors of record on Monday, July 6th were issued a dividend of $0.4171 per share. This represents a yield of 96.0%. This is an increase from ASE Technology's previous annual dividend of $0.36. The ex-dividend date was Monday, July 6th. ASE Technology's dividend payout ratio is currently 34.88%.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. NYSE: ASX, commonly referred to as ASE, is a Taiwan-based provider of semiconductor assembly and testing services. The company focuses on back-end semiconductor manufacturing and related services that prepare integrated circuits and other semiconductor devices for final use. Its core activities include advanced IC packaging, final testing, wafer probing, and related engineering and supply-chain support for semiconductor customers.

ASE offers a range of products and technical capabilities designed to meet increasingly complex packaging and system-in-package requirements.

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