Barometer Capital Management Inc. Buys Shares of 138,500 ASE Technology Holding Co., Ltd. $ASX

Key Points

• Barometer Capital Management opened a new position in ASE Technology Holding, buying 138,500 shares worth about $3.0 million in the first quarter.
• ASE Technology recently beat quarterly earnings expectations, reporting $0.20 EPS versus $0.17 expected, on revenue of $5.43 billion.
• The company raised its annual dividend to $0.4171 per share, and analysts currently have an overall Buy rating on the stock.

Barometer Capital Management Inc. purchased a new position in ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 138,500 shares of the semiconductor company's stock, valued at approximately $3,003,000. ASE Technology comprises approximately 1.2% of Barometer Capital Management Inc.'s investment portfolio, making the stock its 21st biggest position.

A number of other large investors have also made changes to their positions in ASX. Nisa Investment Advisors LLC acquired a new stake in shares of ASE Technology in the 4th quarter worth $27,000. Caitong International Asset Management Co. Ltd increased its position in ASE Technology by 180,900.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,810 shares of the semiconductor company's stock valued at $29,000 after buying an additional 1,809 shares in the last quarter. Bessemer Group Inc. increased its position in ASE Technology by 135.4% during the 1st quarter. Bessemer Group Inc. now owns 1,438 shares of the semiconductor company's stock valued at $31,000 after buying an additional 827 shares in the last quarter. Eagle Bay Advisors LLC acquired a new position in ASE Technology during the 4th quarter valued at about $32,000. Finally, UMB Bank n.a. purchased a new stake in ASE Technology in the fourth quarter valued at about $32,000. 6.80% of the stock is owned by institutional investors and hedge funds.

ASE Technology Stock Performance

Shares of ASX stock opened at $40.13 on Wednesday. The firm has a market capitalization of $89.23 billion, a price-to-earnings ratio of 59.02 and a beta of 1.69. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.15 and a quick ratio of 0.89. The business has a fifty day moving average of $38.56 and a 200 day moving average of $28.66. ASE Technology Holding Co., Ltd. has a 1 year low of $9.30 and a 1 year high of $45.51.

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 for the quarter, beating the consensus estimate of $0.17 by $0.03. ASE Technology had a return on equity of 13.48% and a net margin of 7.03%.The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.32 billion. As a group, research analysts expect that ASE Technology Holding Co., Ltd. will post 0.84 earnings per share for the current year.

ASE Technology Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, August 7th. Investors of record on Monday, July 6th will be issued a $0.4171 dividend. This is a boost from ASE Technology's previous annual dividend of $0.36. The ex-dividend date is Monday, July 6th. This represents a yield of 96.0%. ASE Technology's dividend payout ratio is currently 45.59%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ASX shares. Wall Street Zen upgraded ASE Technology from a "hold" rating to a "buy" rating in a research note on Sunday, April 5th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of ASE Technology in a research report on Tuesday, June 9th. Finally, Zacks Research upgraded shares of ASE Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 5th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy".

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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