ASE Technology Holding Co., Ltd. (NYSE:ASX) Sees Significant Growth in Short Interest

ASE Technology Holding Co., Ltd. (NYSE:ASX) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 18,168,448 shares, a growth of 82.0% from the June 15th total of 9,979,962 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average trading volume of 13,273,172 shares, the days-to-cover ratio is presently 1.4 days.

ASE Technology Price Performance

Shares of ASX opened at $39.39 on Friday. ASE Technology has a fifty-two week low of $9.30 and a fifty-two week high of $45.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.89 and a current ratio of 1.15. The stock has a market cap of $87.58 billion, a PE ratio of 57.92 and a beta of 1.69. The firm’s 50-day simple moving average is $38.32 and its two-hundred day simple moving average is $28.19.

ASE Technology (NYSE:ASX) last announced its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. ASE Technology had a return on equity of 13.48% and a net margin of 7.03%.The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Analysts anticipate that ASE Technology will post 0.84 earnings per share for the current fiscal year.

ASE Technology Increases Dividend

The company also recently declared an annual dividend, which will be paid on Friday, August 7th. Investors of record on Monday, July 6th will be given a dividend of $0.4171 per share. This represents a dividend yield of 96.0%. This is an increase from ASE Technology’s previous annual dividend of $0.36. The ex-dividend date of this dividend is Monday, July 6th. ASE Technology’s payout ratio is 45.59%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ASX. Jones Financial Companies Lllp grew its stake in shares of ASE Technology by 16.9% in the first quarter. Jones Financial Companies Lllp now owns 13,425 shares of the semiconductor company’s stock worth $118,000 after acquiring an additional 1,943 shares during the period. Goldman Sachs Group Inc. grew its position in shares of ASE Technology by 15.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,775,272 shares of the semiconductor company’s stock valued at $50,591,000 after acquiring an additional 780,651 shares during the period. Geode Capital Management LLC grew its holdings in ASE Technology by 16.3% during the second quarter. Geode Capital Management LLC now owns 13,576 shares of the semiconductor company’s stock valued at $140,000 after purchasing an additional 1,901 shares during the period. Legal & General Group Plc grew its stake in shares of ASE Technology by 261.9% during the 2nd quarter. Legal & General Group Plc now owns 15,647 shares of the semiconductor company’s stock valued at $162,000 after acquiring an additional 11,324 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of ASE Technology by 537.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,928 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 4,155 shares in the last quarter. 6.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ASX. Zacks Research raised shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Wall Street Zen raised shares of ASE Technology from a “hold” rating to a “buy” rating in a research report on Sunday, April 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ASE Technology in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

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.