Navellier & Associates Inc. Purchases Shares of 88,105 ASE Technology Holding Co., Ltd. $ASX

Key Points

• Navellier & Associates initiated a position in ASE Technology, purchasing 88,105 shares valued at approximately $3.98 million. Other institutions, including HSBC and UBS, also increased or initiated holdings.
• Analyst sentiment remains positive overall, with two Buy ratings and one Hold rating, resulting in a “Moderate Buy” consensus despite a recent Zacks Research downgrade.
• ASE Technology reported quarterly EPS of $0.29, beating estimates of $0.23, while its stock opened at $37.87 after declining 2.6%; the company also raised its annual dividend to $0.4171 per share.

Navellier & Associates Inc. bought a new position in ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 88,105 shares of the semiconductor company's stock, valued at approximately $3,975,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hsbc Holdings PLC grew its holdings in ASE Technology by 7.5% in the 1st quarter. Hsbc Holdings PLC now owns 2,014,412 shares of the semiconductor company's stock worth $43,654,000 after acquiring an additional 140,628 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of ASE Technology during the 1st quarter worth approximately $1,341,000. Barometer Capital Management Inc. bought a new position in ASE Technology in the first quarter worth $3,003,000. ABC Arbitrage SA bought a new position in shares of ASE Technology in the 1st quarter worth about $1,308,000. Finally, UBS Group AG lifted its holdings in shares of ASE Technology by 11.4% during the fourth quarter. UBS Group AG now owns 9,038,322 shares of the semiconductor company's stock valued at $145,517,000 after purchasing an additional 922,692 shares during the last quarter. 6.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ASX. Weiss Ratings raised shares of ASE Technology from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Zacks Research downgraded ASE Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, August 24th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy".

ASE Technology Trading Down 2.6%

ASX stock opened at $37.87 on Friday. The firm has a market cap of $84.65 billion, a PE ratio of 44.03 and a beta of 1.71. ASE Technology Holding Co., Ltd. has a fifty-two week low of $9.86 and a fifty-two week high of $45.51. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.81 and a current ratio of 1.07. The firm has a fifty day moving average price of $38.99 and a 200 day moving average price of $32.20.

ASE Technology (NYSE:ASX - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.23 by $0.06. ASE Technology had a net margin of 8.52% and a return on equity of 16.12%. The company had revenue of $81.66 million for the quarter, compared to the consensus estimate of $5.96 billion. Sell-side analysts anticipate that ASE Technology Holding Co., Ltd. will post 1.21 earnings per share for the current fiscal year.

ASE Technology Increases Dividend

The company also recently declared an annual dividend, which was paid on Friday, August 7th. Investors of record on Monday, July 6th were issued a $0.4171 dividend. The ex-dividend date was Monday, July 6th. This is a positive change from ASE Technology's previous annual dividend of $0.36. This represents a dividend yield of 96.0%. ASE Technology's dividend payout ratio (DPR) is presently 34.88%.

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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