Hennessy Advisors Inc. Reduces Stock Position in ASE Technology Holding Co., Ltd. (NYSE:ASX)

Hennessy Advisors Inc. lessened its position in shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) by 14.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,991 shares of the semiconductor company’s stock after selling 2,219 shares during the quarter. Hennessy Advisors Inc.’s holdings in ASE Technology were worth $143,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its stake in ASE Technology by 35.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,884,868 shares of the semiconductor company’s stock valued at $36,557,000 after purchasing 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 valued at $36,553,000 after buying an additional 313,300 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of ASE Technology by 35.7% in the 4th quarter. BNP Paribas Financial Markets now owns 1,524,413 shares of the semiconductor company’s stock valued at $14,345,000 after buying an additional 400,746 shares during the period. American Century Companies Inc. lifted its holdings in shares of ASE Technology by 8.0% in the 3rd quarter. American Century Companies Inc. now owns 1,518,089 shares of the semiconductor company’s stock valued at $11,416,000 after buying an additional 112,814 shares during the period. Finally, LSV Asset Management lifted its holdings in shares of ASE Technology by 4.9% in the 4th quarter. LSV Asset Management now owns 1,178,477 shares of the semiconductor company’s stock valued at $11,089,000 after buying an additional 55,100 shares during the period. Hedge funds and other institutional investors own 6.80% of the company’s stock.

Analysts Set New Price Targets

ASX has been the subject of several analyst reports. Morgan Stanley cut ASE Technology from an “overweight” rating to an “equal weight” rating in a report on Tuesday. StockNews.com raised ASE Technology from a “hold” rating to a “buy” rating in a report on Thursday, June 13th.

ASE Technology Stock Performance

NYSE ASX opened at $11.42 on Friday. The stock has a market capitalization of $25.04 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 0.65 and a beta of 1.20. ASE Technology Holding Co., Ltd. has a twelve month low of $7.20 and a twelve month high of $12.23. The company has a current ratio of 1.19, a quick ratio of 0.92 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average of $10.87 and a 200 day moving average of $10.22.

ASE Technology (NYSE:ASX) last released its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $0.08 earnings per share 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 earned $0.09 earnings per share. Sell-side analysts anticipate that ASE Technology Holding Co., Ltd. will post 0.62 EPS for the current fiscal year.

ASE Technology Cuts Dividend

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