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

ASE Technology Holding Co., Ltd. (NYSE:ASX) was the recipient of a large growth in short interest during the month of 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 shares are sold short. 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 opened at $38.52 on Friday. The company has a market cap of $85.66 billion, a price-to-earnings ratio of 56.65 and a beta of 1.69. ASE Technology has a twelve month low of $9.30 and a twelve month high of $45.51. The company has a current ratio of 1.15, a quick ratio of 0.89 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $38.41 and a 200-day simple moving average of $28.26.

ASE Technology (NYSE:ASX) last posted its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The firm had revenue of $5.43 billion for 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%. Analysts anticipate that ASE Technology will post 0.84 EPS for the current year.

ASE Technology Increases Dividend

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

Hedge Funds Weigh In On ASE Technology

A number of institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC purchased a new stake in shares of ASE Technology in the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd increased its holdings in ASE Technology by 180,900.0% during 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 period. Bessemer Group Inc. increased its holdings in ASE Technology by 135.4% during the 1st quarter. Bessemer Group Inc. now owns 1,438 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 827 shares during the period. Eagle Bay Advisors LLC bought a new stake in ASE Technology during the 4th quarter valued at $32,000. Finally, UMB Bank n.a. bought a new stake in ASE Technology during the 4th quarter valued at $32,000. 6.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Zacks Research raised shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of ASE Technology in a research 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 note on Sunday, April 5th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, ASE Technology presently has a consensus 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.