PNC Financial Services Group Inc. Has $745,000 Position in ASE Technology Holding Co., Ltd. (NYSE:ASX)

Key Points

• PNC Financial Services Group Inc. reduced its holdings in ASE Technology by 33.6%, now owning 85,009 shares worth $745,000 following the sale of 42,995 shares.
• ASE Technology recently increased its annual dividend to $0.359 per share, up from $0.32, leading to a significant dividend yield of 230.0%.
• ASE Technology reported earnings of $0.11 per share for the last quarter, missing analysts' expectations, with a revenue of $5.07 billion.

PNC Financial Services Group Inc. lowered its holdings in ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) by 33.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,009 shares of the semiconductor company's stock after selling 42,995 shares during the quarter. PNC Financial Services Group Inc.'s holdings in ASE Technology were worth $745,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ASX. GAMMA Investing LLC boosted its position in ASE Technology by 94.6% in the first 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its position in ASE Technology by 55.3% in the first 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 in the last quarter. Janney Montgomery Scott LLC boosted its position in ASE Technology by 11.8% in the first 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 in the last quarter. Cerity Partners LLC boosted its position in ASE Technology by 107.3% in the first 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 in the last quarter. Finally, QRG Capital Management Inc. boosted its position in ASE Technology by 5.2% in the first quarter. QRG Capital Management Inc. now owns 82,412 shares of the semiconductor company's stock valued at $722,000 after buying an additional 4,099 shares in the last quarter. Institutional investors own 6.80% of the company's stock.

ASE Technology Price Performance

NYSE:ASX traded down $0.10 on Friday, reaching $9.84. The stock had a trading volume of 7,214,169 shares, compared to its average volume of 6,816,717. The company has a market capitalization of $21.72 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 0.55 and a beta of 1.22. ASE Technology Holding Co., Ltd. has a 1-year low of $6.94 and a 1-year high of $11.36. The company has a quick ratio of 0.79, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average price of $10.25 and a 200-day moving average price of $9.74.

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

ASE Technology Increases Dividend

The business also recently announced 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. The ex-dividend date was Wednesday, July 2nd. This is a positive change from ASE Technology's previous annual dividend of $0.32. This represents a dividend yield of 230.0%. ASE Technology's dividend payout ratio (DPR) is currently 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.