PNC Financial Services Group Inc. Sells 2,703 Shares of ASE Technology Holding Co., Ltd. (NYSE:ASX)

PNC Financial Services Group Inc. trimmed its holdings in ASE Technology Holding Co., Ltd. (NYSE:ASX) by 1.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 136,110 shares of the semiconductor company’s stock after selling 2,703 shares during the quarter. PNC Financial Services Group Inc.’s holdings in ASE Technology were worth $1,281,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its holdings 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 acquiring an additional 1,009,795 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of ASE Technology by 8.8% in the 4th quarter. Rafferty Asset Management LLC now owns 3,884,522 shares of the semiconductor company’s stock worth $36,553,000 after acquiring an additional 313,300 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of ASE Technology by 37.0% in the third 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 period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of ASE Technology by 65.4% in the third 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 period. Finally, BNP Paribas Financial Markets increased its stake in shares of ASE Technology by 35.7% in the fourth quarter. BNP Paribas Financial Markets now owns 1,524,413 shares of the semiconductor company’s stock worth $14,345,000 after buying an additional 400,746 shares during the period. 6.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

ASE Technology Stock Down 1.4 %

Shares of NYSE ASX opened at $11.58 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.19 and a debt-to-equity ratio of 0.37. The firm’s fifty day moving average is $10.78 and its 200 day moving average is $10.13. The company has a market cap of $25.39 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 0.66 and a beta of 1.20. ASE Technology Holding Co., Ltd. has a 52 week low of $7.20 and a 52 week high of $12.23.

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

ASE Technology Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, August 2nd. Shareholders of record on Tuesday, July 2nd will be given a dividend of $0.3209 per share. This represents a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, July 2nd. ASE Technology’s payout ratio is currently 91.31%.

ASE Technology Company 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.