Barometer Capital Management Inc. Buys New Stake in ASE Technology Holding Co., Ltd. $ASX

Barometer Capital Management Inc. purchased a new stake in ASE Technology Holding Co., Ltd. (NYSE:ASX) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 138,500 shares of the semiconductor company’s stock, valued at approximately $3,003,000. ASE Technology accounts for about 1.2% of Barometer Capital Management Inc.’s portfolio, making the stock its 21st largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ASX. Rafferty Asset Management LLC raised its stake in shares of ASE Technology by 50.9% during the 2nd quarter. Rafferty Asset Management LLC now owns 7,392,190 shares of the semiconductor company’s stock valued at $76,361,000 after buying an additional 2,491,918 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of ASE Technology by 11.1% in the fourth quarter. Lazard Asset Management LLC now owns 20,010,829 shares of the semiconductor company’s stock worth $322,174,000 after buying an additional 1,997,888 shares during the last quarter. Millennium Management LLC boosted its stake in shares of ASE Technology by 130.8% in the third quarter. Millennium Management LLC now owns 3,169,267 shares of the semiconductor company’s stock worth $35,147,000 after buying an additional 1,796,357 shares during the last quarter. Bank of America Corp DE grew its holdings in ASE Technology by 18.8% during the second quarter. Bank of America Corp DE now owns 8,815,184 shares of the semiconductor company’s stock worth $91,061,000 after acquiring an additional 1,397,206 shares during the period. Finally, Morgan Stanley grew its holdings in ASE Technology by 14.3% during the fourth quarter. Morgan Stanley now owns 10,607,588 shares of the semiconductor company’s stock worth $170,782,000 after acquiring an additional 1,330,580 shares during the period. 6.80% of the stock is owned by institutional investors and hedge funds.

ASE Technology Trading Up 8.8%

ASX stock opened at $40.13 on Wednesday. The company’s 50-day simple moving average is $38.56 and its 200-day simple moving average is $28.66. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 0.53. ASE Technology Holding Co., Ltd. has a 52-week low of $9.30 and a 52-week high of $45.51. The firm has a market cap of $89.23 billion, a P/E ratio of 59.02 and a beta of 1.69.

ASE Technology (NYSE:ASX) last posted its earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. ASE Technology had a return on equity of 13.48% and a net margin of 7.03%.The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.32 billion. As a group, equities analysts forecast that ASE Technology Holding Co., Ltd. will post 0.84 EPS for the current fiscal year.

ASE Technology Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, August 7th. Shareholders of record on Monday, July 6th will be issued a $0.4171 dividend. The ex-dividend date of this dividend is Monday, July 6th. This is an increase from ASE Technology’s previous annual dividend of $0.36. This represents a yield of 96.0%. ASE Technology’s dividend payout ratio is 45.59%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wall Street Zen raised ASE Technology from a “hold” rating to a “buy” rating in a report on Sunday, April 5th. Zacks Research raised shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ASE Technology in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy”.

ASE Technology Company Profile

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.