First Trust Advisors LP Sells 69,846 Shares of ASE Technology Holding Co., Ltd. $ASX

Key Points

• First Trust Advisors LP cut its ASE Technology position by 25.7%, selling 69,846 shares and retaining 201,507 shares valued at approximately $4.37 million. Other institutional investors, including HSBC and TT International, increased their holdings, while institutional ownership stands at 6.8%.
• ASE Technology shares recently traded up 5.3% at $38.63, near the upper end of their 12-month range. The company reported quarterly earnings of $0.29 per share, beating analyst estimates of $0.23.
• The company raised its annual dividend to $0.4171 per share from $0.36. Analysts maintain a consensus “Buy” rating, with forecasts calling for $1.15 in earnings per share for the current fiscal year.

First Trust Advisors LP trimmed its position in shares of ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) by 25.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 201,507 shares of the semiconductor company's stock after selling 69,846 shares during the quarter. First Trust Advisors LP's holdings in ASE Technology were worth $4,369,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ASX. Hsbc Holdings PLC grew its stake in shares of ASE Technology by 7.5% during the first quarter. Hsbc Holdings PLC now owns 2,014,412 shares of the semiconductor company's stock valued at $43,654,000 after buying an additional 140,628 shares during the last quarter. TT International Asset Management LTD lifted its holdings in ASE Technology by 69.8% during the 4th quarter. TT International Asset Management LTD now owns 1,236,070 shares of the semiconductor company's stock valued at $19,843,000 after buying an additional 508,291 shares in the last quarter. Barometer Capital Management Inc. purchased a new stake in ASE Technology in the 1st quarter valued at about $3,003,000. Y Intercept Hong Kong Ltd bought a new position in ASE Technology in the 1st quarter worth about $1,341,000. Finally, ABC Arbitrage SA bought a new position in ASE Technology in the 1st quarter worth about $1,308,000. 6.80% of the stock is owned by hedge funds and other institutional investors.

ASE Technology Trading Up 5.3%

ASX opened at $38.63 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.81 and a debt-to-equity ratio of 0.54. The firm has a market cap of $85.90 billion, a price-to-earnings ratio of 44.92 and a beta of 1.71. ASE Technology Holding Co., Ltd. has a 12 month low of $9.52 and a 12 month high of $45.51. The stock has a fifty day moving average price of $39.04 and a 200-day moving average price of $29.99.

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 for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $5.96 billion. As a group, equities research analysts anticipate that ASE Technology Holding Co., Ltd. will post 1.15 earnings per share for the current fiscal year.

ASE Technology Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, August 7th. Investors of record on Monday, July 6th will be paid a dividend of $0.4171 per share. 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 dividend yield of 96.0%. ASE Technology's dividend payout ratio (DPR) is presently 36.05%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of ASE Technology in a research note on Tuesday, June 9th. Zacks Research raised shares of ASE Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, ASE Technology currently has a consensus rating of "Buy".

About ASE Technology

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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