Rafferty Asset Management LLC Sells 537,564 Shares of 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 reduced its position in shares of ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) by 9.9% in the first quarter, according to the company in 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 quarter. Rafferty Asset Management LLC owned 0.22% of ASE Technology worth $42,926,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Golden State Wealth Management LLC grew its stake in shares of ASE Technology by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 3,590 shares of the semiconductor company's stock valued at $31,000 after purchasing an additional 1,795 shares during the period. TT International Asset Management LTD purchased a new position in ASE Technology in the 1st quarter worth approximately $39,000. Brooklyn Investment Group lifted its holdings in ASE Technology by 1,084.2% in the 1st quarter. Brooklyn Investment Group now owns 7,650 shares of the semiconductor company's stock worth $67,000 after purchasing an additional 7,004 shares in the last quarter. SVB Wealth LLC purchased a new position in ASE Technology in the 1st quarter worth approximately $68,000. Finally, Canopy Partners LLC purchased a new position in ASE Technology in the 1st quarter worth approximately $91,000. 6.80% of the stock is currently owned by institutional investors.

ASE Technology Price Performance

NYSE ASX traded down $0.06 during trading hours on Friday, reaching $9.92. The company's stock had a trading volume of 9,060,501 shares, compared to its average volume of 6,571,033. The firm's 50-day moving average price is $10.19 and its 200-day moving average price is $9.73. The company has a quick ratio of 0.79, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. ASE Technology Holding Co., Ltd. has a 1 year low of $6.94 and a 1 year high of $11.36. The company has a market capitalization of $21.89 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 0.55 and a beta of 1.22.

ASE Technology (NYSE:ASX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.03). ASE Technology had a return on equity of 10.33% and a net margin of 5.48%.The business had revenue of $5.07 billion during the quarter, compared to analysts' expectations of $150.44 billion. On average, equities research analysts predict that ASE Technology Holding Co., Ltd. will post 0.76 EPS for the current fiscal year.

ASE Technology Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 2nd were issued 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 of this dividend was Wednesday, July 2nd. This represents a dividend yield of 230.0%. ASE Technology's payout ratio is currently 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.