Millennium Management LLC Boosts Holdings in ASE Technology Holding Co., Ltd. $ASX

Key Points

• Millennium Management LLC has significantly increased its stake in ASE Technology Holding Co., Ltd. by 111.1%, owning a total of approximately 3.84 million shares valued at $33.6 million after purchasing an additional 2.02 million shares.
• ASE Technology reported a Q2 earnings miss with earnings per share of $0.11, falling short of the expected $0.14, and achieved revenue of $5.07 billion.
• The company announced a dividend increase, paying $0.359 per share with a current dividend yield of 230.0%, up from the previous $0.32 per share.

Millennium Management LLC lifted its stake in ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) by 111.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,836,018 shares of the semiconductor company's stock after buying an additional 2,018,815 shares during the period. Millennium Management LLC owned approximately 0.17% of ASE Technology worth $33,604,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of ASE Technology by 94.6% in the 1st quarter. GAMMA Investing LLC now owns 18,525 shares of the semiconductor company's stock valued at $162,000 after buying an additional 9,004 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of ASE Technology by 55.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 177,024 shares of the semiconductor company's stock valued at $1,591,000 after buying an additional 63,011 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of ASE Technology by 11.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 31,450 shares of the semiconductor company's stock valued at $276,000 after buying an additional 3,319 shares during the last quarter. OLD Mission Capital LLC purchased a new position in shares of ASE Technology in the 1st quarter valued at $583,000. Finally, Cerity Partners LLC grew its position in shares of ASE Technology by 107.3% in the 1st quarter. Cerity Partners LLC now owns 271,246 shares of the semiconductor company's stock valued at $2,376,000 after buying an additional 140,413 shares during the last quarter. 6.80% of the stock is owned by hedge funds and other institutional investors.

ASE Technology Stock Performance

NYSE:ASX traded up $0.11 during trading hours on Tuesday, reaching $11.31. 5,259,180 shares of the company's stock were exchanged, compared to its average volume of 6,870,060. The firm has a market capitalization of $24.97 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 0.63 and a beta of 1.34. The company has a 50-day moving average of $10.29 and a 200 day moving average of $9.73. 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 1-year low of $6.94 and a 1-year high of $11.52.

ASE Technology (NYSE:ASX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.03). The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $150.44 billion. ASE Technology had a return on equity of 10.33% and a net margin of 5.48%. Research analysts anticipate that ASE Technology Holding Co., Ltd. will post 0.76 EPS for the current year.

ASE Technology Increases Dividend

The company also recently announced an annual dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 2nd were paid a $0.359 dividend. 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 (DPR) is 55.32%.

ASE Technology Profile

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.