Hsbc Holdings PLC Buys 321,421 Shares of ASE Technology Holding Co., Ltd. $ASX

Key Points

• Hsbc Holdings PLC has increased its stake in ASE Technology Holding Co., Ltd. by 62.5%, owning 835,380 shares worth approximately $7.31 million.
• ASE Technology reported quarterly earnings of $0.11 EPS, missing consensus estimates of $0.14, alongside revenues of $5.07 billion.
• The company recently increased its annual dividend to $0.359, resulting in a dividend yield of 230.0%, up from the previous dividend of $0.32.

Hsbc Holdings PLC boosted its holdings in ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) by 62.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 835,380 shares of the semiconductor company's stock after buying an additional 321,421 shares during the period. Hsbc Holdings PLC's holdings in ASE Technology were worth $7,315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Choreo LLC boosted its stake in ASE Technology by 10.7% during the first quarter. Choreo LLC now owns 11,520 shares of the semiconductor company's stock valued at $101,000 after buying an additional 1,113 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of ASE Technology by 14.9% in the 1st quarter. Russell Investments Group Ltd. now owns 10,506 shares of the semiconductor company's stock valued at $92,000 after acquiring an additional 1,365 shares in the last quarter. Leo Wealth LLC raised its holdings in shares of ASE Technology by 12.0% in the 1st quarter. Leo Wealth LLC now owns 13,127 shares of the semiconductor company's stock valued at $115,000 after acquiring an additional 1,409 shares in the last quarter. Golden State Wealth Management LLC boosted its position 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 acquiring an additional 1,795 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in shares of ASE Technology by 15.1% during the first quarter. M&T Bank Corp now owns 14,012 shares of the semiconductor company's stock worth $123,000 after purchasing an additional 1,837 shares in the last quarter. Hedge funds and other institutional investors own 6.80% of the company's stock.

ASE Technology Price Performance

Shares of ASX stock traded down $0.06 during trading on Friday, hitting $9.92. The company had a trading volume of 9,060,501 shares, compared to its average volume of 6,468,265. The stock's 50-day moving average is $10.19 and its two-hundred day moving average is $9.72. The stock has a market capitalization of $21.89 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 0.55 and a beta of 1.34. 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 52 week low of $6.94 and a 52 week high of $11.36.

ASE Technology (NYSE:ASX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.03). The company had revenue of $5.07 billion for the quarter, compared to analysts' expectations of $150.44 billion. ASE Technology had a net margin of 5.48% and a return on equity of 10.33%. As a group, 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 given a dividend of $0.359 per share. This is a boost from ASE Technology's previous annual dividend of $0.32. The ex-dividend date was Wednesday, July 2nd. This represents a dividend yield of 230.0%. ASE Technology's dividend 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.