Rafferty Asset Management LLC Cuts Stake in ASE Technology Holding Co., Ltd. $ASX

Key Points

• Rafferty Asset Management LLC reduced its stake in ASE Technology by 9.9%, owning 4,900,272 shares valued at approximately $42.93 million after trimming down its position.
• ASE Technology reported a miss in earnings for the last quarter, with $0.11 EPS compared to the analysts' consensus of $0.14 and revenue significantly lower than expected at $5.07 billion.
• The company announced an increase in its annual dividend to $0.359 per share, reflecting a yield of 230.0% and a dividend payout ratio of 55.32%.

Rafferty Asset Management LLC lessened its holdings in ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) by 9.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,900,272 shares of the semiconductor company's stock after selling 537,564 shares during the period. Rafferty Asset Management LLC owned about 0.22% of ASE Technology worth $42,926,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ASX. Golden State Wealth Management LLC raised its position in ASE Technology by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 3,590 shares of the semiconductor company's stock worth $31,000 after acquiring an additional 1,795 shares during the period. TT International Asset Management LTD bought a new position in ASE Technology in the 1st quarter worth $39,000. Brooklyn Investment Group lifted its position in ASE Technology by 1,084.2% during the first quarter. Brooklyn Investment Group now owns 7,650 shares of the semiconductor company's stock valued at $67,000 after purchasing an additional 7,004 shares in the last quarter. SVB Wealth LLC purchased a new position in ASE Technology during the first quarter valued at $68,000. Finally, Canopy Partners LLC bought a new stake in ASE Technology during the first quarter valued at about $91,000. 6.80% of the stock is currently owned by institutional investors.

ASE Technology Stock Performance

Shares of NYSE ASX traded down $0.04 during trading on Thursday, hitting $9.98. The company had a trading volume of 4,922,907 shares, compared to its average volume of 7,084,058. ASE Technology Holding Co., Ltd. has a 12 month low of $6.94 and a 12 month high of $11.36. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.79 and a current ratio of 1.02. The firm has a market capitalization of $22.03 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 0.56 and a beta of 1.22. The stock has a 50 day simple moving average of $10.19 and a 200 day simple moving average of $9.74.

ASE Technology (NYSE:ASX - Get Free Report) last released its earnings results on Thursday, July 31st. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.03). ASE Technology had a return on equity of 10.33% and a net margin of 5.48%.The firm had revenue of $5.07 billion during the quarter, compared to analysts' expectations of $150.44 billion. As a group, analysts anticipate that ASE Technology Holding Co., Ltd. will post 0.76 earnings per share for the current year.

ASE Technology Increases Dividend

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

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.