Park Avenue Securities LLC Grows Stock Position in ASE Technology Holding Co., Ltd. (NYSE:ASX)

Park Avenue Securities LLC raised its position in ASE Technology Holding Co., Ltd. (NYSE:ASX) by 37.8% during the first quarter, Holdings Channel.com reports. The firm owned 48,923 shares of the semiconductor company’s stock after buying an additional 13,415 shares during the period. Park Avenue Securities LLC’s holdings in ASE Technology were worth $538,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in 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 purchasing an additional 112,814 shares in the last quarter. Moran Wealth Management LLC purchased a new position in shares of ASE Technology during the 4th quarter worth about $5,345,000. Virtu Financial LLC purchased a new position in shares of ASE Technology during the 4th quarter worth about $667,000. Graham Capital Management L.P. purchased a new position in shares of ASE Technology during the 3rd quarter worth about $1,677,000. Finally, Seven Eight Capital LP acquired a new stake in ASE Technology during the 3rd quarter worth approximately $701,000. 6.80% of the stock is currently owned by hedge funds and other institutional investors.

ASE Technology Price Performance

Shares of NYSE:ASX opened at $11.42 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. ASE Technology Holding Co., Ltd. has a fifty-two week low of $7.20 and a fifty-two week high of $12.23. The firm has a 50-day simple moving average of $10.87 and a 200 day simple moving average of $10.22. The company has a market cap of $25.04 billion, a PE ratio of 24.83, a P/E/G ratio of 0.65 and a beta of 1.20.

ASE Technology (NYSE:ASX) last announced its quarterly earnings data 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 for the quarter. ASE Technology had a net margin of 5.41% and a return on equity of 10.09%. During the same period in the previous year, the company posted $0.09 earnings per share. On average, sell-side analysts anticipate that ASE Technology Holding Co., Ltd. will post 0.62 EPS for the current year.

ASE Technology Cuts Dividend

The firm 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. The ex-dividend date is Tuesday, July 2nd. This represents a yield of 2.2%. ASE Technology’s payout ratio is presently 91.31%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. StockNews.com upgraded shares of ASE Technology from a “hold” rating to a “buy” rating in a report on Thursday, June 13th. Morgan Stanley lowered shares of ASE Technology from an “overweight” rating to an “equal weight” rating in a research note on Tuesday.

ASE Technology 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.