Bank of New York Mellon Corp Sells 70,566 Shares of ASE Technology Holding Co., Ltd. $ASX

Key Points

• Bank of New York Mellon cut its ASE Technology stake by 38.9% in the first quarter, selling 70,566 shares and retaining 110,649 shares valued at approximately $2.4 million.
• Analyst sentiment is generally positive: ASE Technology has an average “Buy” rating, including a recent upgrade from Zacks Research to “Strong Buy,” although Weiss Ratings maintained a “Hold” rating.
• ASE Technology reported quarterly EPS of $0.29, beating the $0.23 consensus estimate, and increased its annual dividend to $0.4171 per share from $0.36.

Bank of New York Mellon Corp lessened its stake in ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) by 38.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,649 shares of the semiconductor company's stock after selling 70,566 shares during the quarter. Bank of New York Mellon Corp's holdings in ASE Technology were worth $2,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ASX. Caitong International Asset Management Co. Ltd raised its holdings in ASE Technology by 180,900.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,810 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 1,809 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in ASE Technology during the 4th quarter valued at $32,000. UMB Bank n.a. bought a new stake in shares of ASE Technology in the 4th quarter worth $32,000. SBI Securities Co. Ltd. increased its holdings in shares of ASE Technology by 256.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,495 shares of the semiconductor company's stock worth $40,000 after purchasing an additional 1,795 shares in the last quarter. Finally, WealthCollab LLC raised its stake in shares of ASE Technology by 55.2% in the second quarter. WealthCollab LLC now owns 4,850 shares of the semiconductor company's stock worth $50,000 after purchasing an additional 1,726 shares during the last quarter. Institutional investors own 6.80% of the company's stock.

Analyst Upgrades and Downgrades

ASX has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of ASE Technology in a report on Tuesday, June 9th. Zacks Research upgraded ASE Technology from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, ASE Technology presently has an average rating of "Buy".

ASE Technology Price Performance

NYSE ASX opened at $37.43 on Monday. The business's fifty day moving average price is $38.92 and its 200-day moving average price is $30.36. The stock has a market capitalization of $83.22 billion, a price-to-earnings ratio of 43.52 and a beta of 1.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.07 and a quick ratio of 0.81. ASE Technology Holding Co., Ltd. has a 1-year low of $9.52 and a 1-year high of $45.51.

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

ASE Technology Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, August 7th. Stockholders of record on Monday, July 6th were given a dividend of $0.4171 per share. This represents a dividend yield of 96.0%. The ex-dividend date of this dividend was Monday, July 6th. This is a positive change from ASE Technology's previous annual dividend of $0.36. ASE Technology's payout ratio is presently 34.88%.

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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