Healthcare of Ontario Pension Plan Trust Fund Takes $8.93 Million Position in ASE Technology Holding Co., Ltd. $ASX

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in ASE Technology Holding Co., Ltd. (NYSE:ASX) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 412,000 shares of the semiconductor company’s stock, valued at approximately $8,932,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC increased its holdings in ASE Technology by 1.9% during the 4th quarter. Parallel Advisors LLC now owns 25,975 shares of the semiconductor company’s stock worth $418,000 after purchasing an additional 482 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of ASE Technology by 5.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,223 shares of the semiconductor company’s stock worth $181,000 after buying an additional 589 shares during the period. Vest Financial LLC lifted its holdings in shares of ASE Technology by 5.2% in the 4th quarter. Vest Financial LLC now owns 12,954 shares of the semiconductor company’s stock worth $209,000 after buying an additional 637 shares during the period. PNC Financial Services Group Inc. grew its position in shares of ASE Technology by 0.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 120,598 shares of the semiconductor company’s stock worth $1,942,000 after buying an additional 643 shares in the last quarter. Finally, Transamerica Financial Advisors LLC grew its position in shares of ASE Technology by 24.8% during the 4th quarter. Transamerica Financial Advisors LLC now owns 3,435 shares of the semiconductor company’s stock worth $55,000 after buying an additional 683 shares in the last quarter. Institutional investors own 6.80% of the company’s stock.

ASE Technology Stock Performance

Shares of NYSE:ASX opened at $33.96 on Wednesday. The firm has a 50 day moving average of $38.97 and a 200 day moving average of $29.38. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $75.51 billion, a price-to-earnings ratio of 49.94 and a beta of 1.69. ASE Technology Holding Co., Ltd. has a 52 week low of $9.30 and a 52 week high of $45.51.

ASE Technology (NYSE:ASX) last announced its earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. ASE Technology had a return on equity of 13.48% and a net margin of 7.03%.The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.32 billion. On average, sell-side analysts predict that ASE Technology Holding Co., Ltd. will post 0.82 earnings per share for the current fiscal year.

ASE Technology Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, August 7th. Investors of record on Monday, July 6th will be paid a dividend of $0.4171 per share. This is an increase from ASE Technology’s previous annual dividend of $0.36. The ex-dividend date is Monday, July 6th. This represents a dividend yield of 96.0%. ASE Technology’s dividend payout ratio (DPR) is currently 45.59%.

Analysts Set New Price Targets

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

About ASE Technology

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.