Navellier & Associates Inc. Acquires New Shares in ASE Technology Holding Co., Ltd. $ASX

Navellier & Associates Inc. acquired a new stake in ASE Technology Holding Co., Ltd. (NYSE:ASX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 88,105 shares of the semiconductor company’s stock, valued at approximately $3,975,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. North Star Asset Management Inc. purchased a new position in ASE Technology during the 2nd quarter valued at about $656,000. Public Employees Retirement System of Ohio bought a new stake in shares of ASE Technology in the 2nd quarter valued at about $627,000. Ancora Advisors LLC purchased a new stake in shares of ASE Technology in the 2nd quarter worth approximately $33,000. Heck Capital Advisors LLC purchased a new stake in shares of ASE Technology in the 2nd quarter worth approximately $370,000. Finally, Nolet Wealth Management LLC bought a new position in shares of ASE Technology during the second quarter valued at approximately $332,000. 6.80% of the stock is owned by hedge funds and other institutional investors.

ASE Technology Trading Down 2.6%

ASX opened at $37.87 on Friday. The stock has a market capitalization of $84.65 billion, a price-to-earnings ratio of 44.03 and a beta of 1.71. The business has a fifty day moving average price of $38.99 and a 200 day moving average price of $32.20. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.07 and a quick ratio of 0.81. ASE Technology Holding Co., Ltd. has a 12 month low of $9.86 and a 12 month high of $45.51.

ASE Technology (NYSE:ASX) last posted its earnings results on Thursday, July 30th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. ASE Technology had a net margin of 8.52% and a return on equity of 16.12%. The firm had revenue of $81.66 million for the quarter, compared to the consensus estimate of $5.96 billion. Sell-side analysts expect 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. Stockholders of record on Monday, July 6th were paid a dividend of $0.4171 per share. This is a positive change from ASE Technology’s previous annual dividend of $0.36. The ex-dividend date of this dividend was Monday, July 6th. This represents a dividend yield of 96.0%. ASE Technology’s dividend payout ratio is presently 34.88%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ASX shares. Zacks Research downgraded shares of ASE Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 24th. Weiss Ratings raised shares of ASE Technology from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate 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.