PNC Financial Services Group Inc. Sells 42,995 Shares of 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. trimmed its holdings in shares of ASE Technology Holding Co., Ltd. (NYSE:ASX - Free Report) by 33.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 85,009 shares of the semiconductor company's stock after selling 42,995 shares during the period. PNC Financial Services Group Inc.'s holdings in ASE Technology were worth $745,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of ASX. GAMMA Investing LLC raised its position in 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 boosted its holdings in 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 worth $1,591,000 after buying an additional 63,011 shares during the period. Janney Montgomery Scott LLC boosted its holdings in ASE Technology by 11.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 31,450 shares of the semiconductor company's stock worth $276,000 after buying an additional 3,319 shares during the period. Cerity Partners LLC boosted its holdings in ASE Technology by 107.3% in the 1st quarter. Cerity Partners LLC now owns 271,246 shares of the semiconductor company's stock worth $2,376,000 after buying an additional 140,413 shares during the period. Finally, QRG Capital Management Inc. boosted its holdings in ASE Technology by 5.2% in the 1st quarter. QRG Capital Management Inc. now owns 82,412 shares of the semiconductor company's stock worth $722,000 after buying an additional 4,099 shares during the period. 6.80% of the stock is currently owned by institutional investors.

ASE Technology Stock Performance

ASX traded down $0.11 on Wednesday, hitting $10.02. The company's stock had a trading volume of 6,780,735 shares, compared to its average volume of 6,922,836. The company's 50 day simple moving average is $10.24 and its 200-day simple moving average is $9.74. The firm has a market cap of $22.12 billion, a P/E ratio of 21.32, a price-to-earnings-growth ratio of 0.57 and a beta of 1.22. ASE Technology Holding Co., Ltd. has a 12 month low of $6.94 and a 12 month 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.

ASE Technology (NYSE:ASX - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.03). The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $150.44 billion. ASE Technology had a return on equity of 10.33% and a net margin of 5.48%. Analysts forecast 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. Investors of record on Wednesday, July 2nd were issued 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 of this dividend was Wednesday, July 2nd. This represents a yield of 230.0%. ASE Technology's payout ratio 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.