Engineers Gate Manager LP Sells 47,611 Shares of ASE Technology Holding Co., Ltd. $ASX

Key Points

• Engineers Gate Manager LP cut its ASE Technology stake by 49.6% during the second quarter, selling 47,611 shares and retaining 48,444 shares valued at approximately $2.19 million.
• ASE Technology shares opened at $37.20, versus a 52-week range of $10.93 to $45.51. The company beat quarterly EPS estimates, reporting $0.29 compared with the $0.23 consensus forecast.
• The company increased its annual dividend to $0.4171 from $0.36, while analysts’ overall view remained “Moderate Buy”, with two Buy ratings and one Hold rating.

Engineers Gate Manager LP lowered its position in ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) by 49.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,444 shares of the semiconductor company's stock after selling 47,611 shares during the quarter. Engineers Gate Manager LP's holdings in ASE Technology were worth $2,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. NorthRock Partners LLC purchased a new stake in shares of ASE Technology in the 2nd quarter valued at $249,000. Integrated Wealth Concepts LLC bought a new stake in ASE Technology in the second quarter worth $317,000. IFP Advisors Inc boosted its position in ASE Technology by 107.7% during the second quarter. IFP Advisors Inc now owns 947 shares of the semiconductor company's stock valued at $43,000 after buying an additional 491 shares during the period. Nykredit A S bought a new position in shares of ASE Technology during the second quarter valued at about $14,247,000. Finally, Echo45 Advisors LLC purchased a new position in shares of ASE Technology in the second quarter worth about $206,000. 6.80% of the stock is currently owned by institutional investors.

ASE Technology Stock Performance

Shares of ASX stock opened at $37.20 on Tuesday. The firm has a market capitalization of $83.16 billion, a price-to-earnings ratio of 43.26 and a beta of 1.71. The stock has a fifty day moving average of $38.14 and a 200 day moving average of $33.42. ASE Technology Holding Co., Ltd. has a 52 week low of $10.93 and a 52 week high of $45.51. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.54.

ASE Technology (NYSE:ASX - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.06. ASE Technology had a net margin of 8.52% and a return on equity of 16.12%. The business had revenue of $81.66 million for the quarter, compared to the consensus estimate of $5.96 billion. As a group, research analysts expect that ASE Technology Holding Co., Ltd. will post 1.23 earnings per share for the current year.

ASE Technology Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, August 7th. Investors of record on Monday, July 6th were paid a $0.4171 dividend. The ex-dividend date of this dividend was Monday, July 6th. This is an increase from ASE Technology's previous annual dividend of $0.36. This represents a yield of 96.0%. ASE Technology's payout ratio is currently 34.88%.

Analysts Set New Price Targets

Several brokerages recently weighed in on ASX. Weiss Ratings upgraded ASE Technology from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Zacks Research cut ASE Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 24th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, ASE Technology currently has an average rating of "Moderate Buy".

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. is a Taiwan-based semiconductor manufacturing services company. Through its subsidiaries, including Advanced Semiconductor Engineering, Inc and Siliconware Precision Industries Co, Ltd., the company provides outsourced semiconductor assembly and testing (OSAT) services for chipmakers and electronics companies.

Its services include semiconductor packaging, wafer probing, final testing, electronic manufacturing services, and related materials and engineering solutions.

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