ASE Technology (NYSE:ASX) Sets New 12-Month High at $11.78

Shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) reached a new 52-week high on Tuesday . The company traded as high as $11.78 and last traded at $11.76, with a volume of 249853 shares trading hands. The stock had previously closed at $11.53.

Analyst Ratings Changes

Separately, StockNews.com raised ASE Technology from a “hold” rating to a “buy” rating in a research report on Thursday, June 13th.

ASE Technology Trading Up 3.6 %

The firm has a market cap of $26.17 billion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 0.65 and a beta of 1.20. The stock has a fifty day simple moving average of $10.75 and a 200 day simple moving average of $10.09. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.92 and a current ratio of 1.19.

ASE Technology (NYSE:ASX) last posted its earnings results on Thursday, April 25th. The semiconductor company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The business had revenue of $4.24 billion during the quarter. ASE Technology had a return on equity of 10.09% and a net margin of 5.41%. During the same period last year, the firm posted $0.09 earnings per share. On average, research analysts expect that ASE Technology Holding Co., Ltd. will post 0.62 earnings per share for the current fiscal year.

ASE Technology Cuts Dividend

The company also recently declared an annual dividend, which will be paid on Friday, August 2nd. Stockholders of record on Tuesday, July 2nd will be paid a $0.3209 dividend. The ex-dividend date is Tuesday, July 2nd. This represents a dividend yield of 2.2%. ASE Technology’s dividend payout ratio (DPR) is currently 91.31%.

Hedge Funds Weigh In On ASE Technology

A number of institutional investors and hedge funds have recently modified their holdings of ASX. Acadian Asset Management LLC boosted its stake in shares of ASE Technology by 89.7% in the 1st quarter. Acadian Asset Management LLC now owns 9,861,612 shares of the semiconductor company’s stock worth $108,364,000 after buying an additional 4,664,258 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of ASE Technology by 35.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,884,868 shares of the semiconductor company’s stock worth $36,557,000 after buying an additional 1,009,795 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of ASE Technology by 37.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 2,966,914 shares of the semiconductor company’s stock worth $22,311,000 after buying an additional 801,771 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of ASE Technology by 65.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,754,966 shares of the semiconductor company’s stock worth $13,197,000 after buying an additional 694,048 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in shares of ASE Technology by 287.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 830,349 shares of the semiconductor company’s stock worth $6,244,000 after buying an additional 616,250 shares during the last quarter. 6.80% of the stock is currently owned by hedge funds and other institutional investors.

About ASE Technology

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.