ASE Technology Holding Co., Ltd. (NYSE:ASX) to Issue Dividend Increase – $0.48 Per Share

Posted by on Jun 7th, 2022

ASE Technology Holding Co., Ltd. (NYSE:ASX – Get Rating) declared an annual dividend on Tuesday, June 7th, Wall Street Journal reports. Stockholders of record on Thursday, June 30th will be given a dividend of 0.4794 per share by the semiconductor company on Thursday, August 4th. This represents a dividend yield of 8%. The ex-dividend date is Wednesday, June 29th. This is a positive change from ASE Technology’s previous annual dividend of $0.30.

ASE Technology has a dividend payout ratio of 35.3% meaning its dividend is sufficiently covered by earnings. Analysts expect ASE Technology to earn $0.92 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 32.6%.

Shares of NYSE:ASX traded up $0.01 during midday trading on Tuesday, hitting $7.16. The company had a trading volume of 4,562,232 shares, compared to its average volume of 6,468,943. ASE Technology has a 12 month low of $6.18 and a 12 month high of $9.62. The company has a current ratio of 1.22, a quick ratio of 0.88 and a debt-to-equity ratio of 0.59. The stock has a market cap of $15.71 billion, a price-to-earnings ratio of 6.47, a PEG ratio of 0.32 and a beta of 1.02. The firm has a fifty day simple moving average of $6.77 and a 200 day simple moving average of $7.19.

ASE Technology (NYSE:ASX – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter. The business had revenue of $5.16 billion for the quarter. ASE Technology had a return on equity of 26.31% and a net margin of 11.49%. Equities analysts forecast that ASE Technology will post 0.87 EPS for the current fiscal year.

Several analysts have issued reports on ASX shares. StockNews.com raised ASE Technology from a “hold” rating to a “buy” rating in a research note on Saturday, April 23rd. Zacks Investment Research raised ASE Technology from a “strong sell” rating to a “hold” rating in a research note on Friday, May 27th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.18.

A number of institutional investors have recently bought and sold shares of ASX. Lazard Asset Management LLC boosted its holdings in shares of ASE Technology by 15.9% during the first quarter. Lazard Asset Management LLC now owns 16,191,596 shares of the semiconductor company’s stock worth $114,796,000 after acquiring an additional 2,225,409 shares during the period. BlackRock Inc. boosted its holdings in shares of ASE Technology by 8.1% during the first quarter. BlackRock Inc. now owns 8,084,915 shares of the semiconductor company’s stock worth $57,322,000 after acquiring an additional 606,628 shares during the period. UBS Group AG boosted its holdings in shares of ASE Technology by 0.5% during the first quarter. UBS Group AG now owns 6,715,817 shares of the semiconductor company’s stock worth $47,615,000 after acquiring an additional 34,421 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in shares of ASE Technology by 2.5% during the fourth quarter. Parametric Portfolio Associates LLC now owns 3,521,136 shares of the semiconductor company’s stock worth $27,500,000 after acquiring an additional 85,182 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of ASE Technology by 1.0% during the first quarter. Sei Investments Co. now owns 2,829,415 shares of the semiconductor company’s stock worth $20,069,000 after acquiring an additional 29,374 shares during the period. Institutional investors and hedge funds own 6.48% of the company’s stock.

ASE Technology Company Profile (Get Rating)

ASE Technology Holding Co, Ltd. provides a range of semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, rest of Asia, Europe, and internationally. It offers packaging services, including flip chip ball grid array (BGA) and chip scale package (CSP), advanced chip scale packages, quad flat packages, low profile and thin quad flat packages, bump chip carrier and quad flat no-lead (QFN) packages, advanced QFN packages, plastic BGAs, and 3D chip packages; stacked die solutions in various packages; and copper and silver wire bonding solutions.

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Dividend History for ASE Technology (NYSE:ASX)

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