ABC Arbitrage SA Makes New Investment in ASE Technology Holding Co., Ltd. $ASX

ABC Arbitrage SA bought a new position in shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 60,348 shares of the semiconductor company’s stock, valued at approximately $1,308,000.

A number of other hedge funds also recently bought and sold shares of ASX. Jones Financial Companies Lllp increased 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 purchasing an additional 1,943 shares during the period. Goldman Sachs Group Inc. lifted 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 worth $50,591,000 after purchasing an additional 780,651 shares during the last quarter. Geode Capital Management LLC boosted its stake in ASE Technology by 16.3% during the 2nd 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 boosted its stake in 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 purchasing an additional 11,324 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in ASE Technology by 537.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,928 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 4,155 shares during the last quarter. 6.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ASE Technology in a research report on Tuesday, June 9th. Zacks Research upgraded shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen upgraded shares of ASE Technology from a “hold” rating to a “buy” rating in a research report on Sunday, April 5th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

ASE Technology Price Performance

Shares of ASE Technology stock opened at $40.39 on Tuesday. 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 firm’s 50-day simple moving average is $37.93 and its 200-day simple moving average is $27.67. ASE Technology Holding Co., Ltd. has a twelve month low of $9.30 and a twelve month high of $45.51. The firm has a market cap of $89.80 billion, a P/E ratio of 59.39 and a beta of 1.69.

ASE Technology (NYSE:ASX) last announced its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share 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 firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.32 billion. As a group, research analysts expect that ASE Technology Holding Co., Ltd. will post 0.84 EPS for the current fiscal year.

ASE Technology Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, August 7th. Stockholders of record on Monday, July 6th will be issued a dividend of $0.4171 per share. The ex-dividend date is Monday, July 6th. This is a boost 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 currently 45.59%.

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.