ASE Technology Holding Co., Ltd. (NYSE:ASX) Sees Significant Increase in Short Interest

ASE Technology Holding Co., Ltd. (NYSE:ASX) saw a large growth in short interest in June. As of June 30th, there was short interest totaling 18,168,448 shares, a growth of 82.0% from the June 15th total of 9,979,962 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average trading volume of 13,273,172 shares, the days-to-cover ratio is currently 1.4 days.

ASE Technology Stock Down 2.5%

NYSE ASX traded down $0.99 during trading hours on Friday, hitting $38.52. 10,881,863 shares of the company traded hands, compared to its average volume of 11,212,799. The business’s 50-day moving average is $38.41 and its 200-day moving average is $28.26. ASE Technology has a twelve month low of $9.30 and a twelve month high of $45.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.89 and a current ratio of 1.15. The stock has a market capitalization of $85.66 billion, a price-to-earnings ratio of 56.65 and a beta of 1.69.

ASE Technology (NYSE:ASX) last posted its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share 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 during the quarter, compared to the consensus estimate of $5.32 billion. Sell-side analysts anticipate that ASE Technology will post 0.84 earnings per share for the current year.

ASE Technology Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Heck Capital Advisors LLC bought a new stake in shares of ASE Technology in the 2nd quarter valued at about $370,000. Nolet Wealth Management LLC bought a new position in ASE Technology during the second quarter worth about $332,000. Valeo Financial Advisors LLC increased its position in ASE Technology by 24.3% during the second quarter. Valeo Financial Advisors LLC now owns 11,647 shares of the semiconductor company’s stock worth $526,000 after buying an additional 2,279 shares during the last quarter. Foster Group Inc. increased its position in ASE Technology by 7.9% during the second quarter. Foster Group Inc. now owns 17,206 shares of the semiconductor company’s stock worth $776,000 after buying an additional 1,253 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its stake in ASE Technology by 20.7% in the second quarter. Dynamic Advisor Solutions LLC now owns 11,274 shares of the semiconductor company’s stock valued at $509,000 after buying an additional 1,937 shares during the period. Institutional investors own 6.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of ASE Technology from a “hold” rating to a “buy” rating in a report on Sunday, April 5th. Zacks Research upgraded shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ASE Technology in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. Based on 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.