ASE Technology Holding Co., Ltd. $ASX Shares Sold by Ovata Capital Management Ltd

Ovata Capital Management Ltd cut its holdings in shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) by 62.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 352,320 shares of the semiconductor company’s stock after selling 594,501 shares during the quarter. ASE Technology makes up approximately 0.7% of Ovata Capital Management Ltd’s holdings, making the stock its 28th largest holding. Ovata Capital Management Ltd’s holdings in ASE Technology were worth $5,785,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ASX. Nisa Investment Advisors LLC bought a new stake in ASE Technology in the fourth quarter valued at about $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of ASE Technology by 180,900.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,810 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 1,809 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in ASE Technology in the fourth quarter valued at $32,000. UMB Bank n.a. bought a new stake in ASE Technology in the 4th quarter valued at about $32,000. Finally, SBI Securities Co. Ltd. boosted its stake in ASE Technology by 256.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,495 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 1,795 shares during the period. 6.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ASX has been the subject of several recent analyst reports. Zacks Research raised ASE Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Weiss Ratings restated a “hold (c+)” rating on shares of ASE Technology in a research note on Tuesday, June 9th. Finally, Wall Street Zen raised shares of ASE Technology from a “hold” rating to a “buy” rating in a report 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 data from MarketBeat, ASE Technology has a consensus rating of “Buy”.

ASE Technology Stock Performance

Shares of NYSE ASX opened at $40.63 on Friday. 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 stock has a market capitalization of $90.33 billion, a price-to-earnings ratio of 59.74, a PEG ratio of 1.04 and a beta of 1.72. The stock’s fifty day simple moving average is $33.72 and its 200 day simple moving average is $24.63. ASE Technology Holding Co., Ltd. has a 52-week low of $9.30 and a 52-week high of $41.10.

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

ASE Technology Increases Dividend

The company also recently declared 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 is a boost from ASE Technology’s previous annual dividend of $0.36. The ex-dividend date of this dividend is Monday, July 6th. This represents a dividend yield of 111.0%. ASE Technology’s dividend payout ratio (DPR) is 38.24%.

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.