QRG Capital Management Inc. Acquires 24,592 Shares of ASE Technology Holding Co., Ltd. $ASX

QRG Capital Management Inc. grew its stake in ASE Technology Holding Co., Ltd. (NYSE:ASX) by 74.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,833 shares of the semiconductor company’s stock after buying an additional 24,592 shares during the quarter. QRG Capital Management Inc.’s holdings in ASE Technology were worth $1,254,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ASX. Lazard Asset Management LLC grew its holdings in ASE Technology by 11.1% during the 4th quarter. Lazard Asset Management LLC now owns 20,010,829 shares of the semiconductor company’s stock valued at $322,174,000 after buying an additional 1,997,888 shares in the last quarter. Morgan Stanley increased its position in ASE Technology by 14.3% during the fourth quarter. Morgan Stanley now owns 10,607,588 shares of the semiconductor company’s stock valued at $170,782,000 after acquiring an additional 1,330,580 shares during the last quarter. Bank of America Corp DE grew its holdings in ASE Technology by 9.6% during the 3rd quarter. Bank of America Corp DE now owns 9,661,484 shares of the semiconductor company’s stock valued at $107,146,000 after purchasing an additional 846,300 shares during the last quarter. UBS Group AG raised its holdings in shares of ASE Technology by 11.4% in the fourth quarter. UBS Group AG now owns 9,038,322 shares of the semiconductor company’s stock worth $145,517,000 after buying an additional 922,692 shares during the period. Finally, Rafferty Asset Management LLC increased its stake in ASE Technology by 50.9% in the second quarter. Rafferty Asset Management LLC now owns 7,392,190 shares of the semiconductor company’s stock worth $76,361,000 after purchasing an additional 2,491,918 shares during the period. Hedge funds and other institutional investors own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

ASX has been the topic of a number of recent research reports. Zacks Research raised ASE Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Weiss Ratings restated a “hold (c+)” rating on shares of ASE Technology in a report on Tuesday, June 9th. Finally, Wall Street Zen upgraded ASE Technology from a “hold” rating to a “buy” rating in a research note on Sunday, April 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, ASE Technology has a consensus rating of “Buy”.

ASE Technology Trading Down 8.5%

ASE Technology stock opened at $39.63 on Wednesday. The stock has a 50-day moving average price of $37.06 and a 200 day moving average price of $26.92. The company has a market capitalization of $88.12 billion, a price-to-earnings ratio of 58.28 and a beta of 1.69. 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.

ASE Technology (NYSE:ASX) last issued its earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.03. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.32 billion. ASE Technology had a net margin of 7.03% and a return on equity of 13.48%. Sell-side analysts anticipate that ASE Technology Holding Co., Ltd. will post 0.84 EPS for the current year.

ASE Technology Increases Dividend

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

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.