Millennium Management LLC Acquires 2,018,815 Shares of 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 grew its position in ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) by 111.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its stake in ASE Technology by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 3,590 shares of the semiconductor company's stock worth $31,000 after purchasing an additional 1,795 shares during the period. TT International Asset Management LTD acquired a new position in ASE Technology in the 1st quarter worth $39,000. Brooklyn Investment Group boosted its stake in ASE Technology by 1,084.2% in the 1st quarter. Brooklyn Investment Group now owns 7,650 shares of the semiconductor company's stock worth $67,000 after purchasing an additional 7,004 shares during the period. SVB Wealth LLC acquired a new position in ASE Technology in the 1st quarter worth $68,000. Finally, Canopy Partners LLC acquired a new position in ASE Technology in the 1st quarter worth $91,000. Institutional investors and hedge funds own 6.80% of the company's stock.

ASE Technology Stock Down 0.5%

Shares of ASE Technology stock traded down $0.06 during trading hours on Friday, reaching $11.05. 3,884,902 shares of the company's stock were exchanged, compared to its average volume of 7,055,365. The company has a 50 day moving average of $10.25 and a two-hundred day moving average of $9.72. ASE Technology Holding Co., Ltd. has a fifty-two week low of $6.94 and a fifty-two week high of $11.52. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.57. The stock has a market cap of $24.39 billion, a P/E ratio of 23.51, a P/E/G ratio of 0.62 and a beta of 1.34.

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

ASE Technology Increases Dividend

The business also recently declared an annual dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 2nd were issued a $0.359 dividend. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a yield of 230.0%. This is an increase from ASE Technology's previous annual dividend of $0.32. ASE Technology's payout ratio is currently 55.32%.

ASE Technology Company 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.