ABC Arbitrage SA Makes New Investment in ASE Technology Holding Co., Ltd. $ASX

ABC Arbitrage SA purchased a new position in ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 60,348 shares of the semiconductor company's stock, valued at approximately $1,308,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Jones Financial Companies Lllp grew its position in shares of ASE Technology by 16.9% during the 1st quarter. Jones Financial Companies Lllp now owns 13,425 shares of the semiconductor company's stock valued at $118,000 after buying an additional 1,943 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in ASE Technology by 15.6% in 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 acquiring an additional 780,651 shares during the period. Geode Capital Management LLC boosted its stake in ASE Technology by 16.3% in the second quarter. Geode Capital Management LLC now owns 13,576 shares of the semiconductor company's stock valued at $140,000 after acquiring an additional 1,901 shares during the period. Legal & General Group Plc grew its holdings in shares of ASE Technology by 261.9% during the second quarter. Legal & General Group Plc now owns 15,647 shares of the semiconductor company's stock valued at $162,000 after purchasing an additional 11,324 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of ASE Technology by 537.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,928 shares of the semiconductor company's stock valued at $51,000 after purchasing an additional 4,155 shares during the last quarter. 6.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wall Street Zen raised ASE Technology from a "hold" rating to a "buy" rating in a report on Sunday, April 5th. Zacks Research upgraded ASE Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of ASE Technology in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy".

ASE Technology Stock Down 5.3%

Shares of ASX stock opened at $40.39 on Tuesday. The business's fifty day moving average is $37.93 and its 200-day moving average is $27.67. The stock has a market cap of $89.80 billion, a PE ratio of 59.39 and a beta of 1.69. ASE Technology Holding Co., Ltd. has a 1 year low of $9.30 and a 1 year high of $45.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.89 and a current ratio of 1.15.

ASE Technology (NYSE:ASX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.03. ASE Technology had a net margin of 7.03% and a return on equity of 13.48%. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.32 billion. Equities analysts expect that ASE Technology Holding Co., Ltd. will post 0.84 earnings per share for the current fiscal year.

ASE Technology Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, August 7th. Shareholders of record on Monday, July 6th will be paid a dividend of $0.4171 per share. This is a boost from ASE Technology's previous annual dividend of $0.36. The ex-dividend date of this dividend is Monday, July 6th. This represents a yield of 96.0%. ASE Technology's dividend payout ratio (DPR) is presently 45.59%.

ASE Technology 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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