ASE Technology (NYSE:ASX) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of ASE Technology (NYSE:ASX – Free Report) from a buy rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the stock. Zacks Research cut shares of ASE Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 24th. Weiss Ratings raised shares of ASE Technology from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, ASE Technology presently has an average rating of “Moderate Buy”.

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ASE Technology Price Performance

ASX opened at $41.59 on Friday. ASE Technology has a 1 year low of $10.93 and a 1 year high of $45.51. The business’s 50-day moving average is $37.95 and its two-hundred day moving average is $33.76. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.07 and a quick ratio of 0.81. The firm has a market capitalization of $92.97 billion, a PE ratio of 48.36 and a beta of 1.71.

ASE Technology (NYSE:ASX – Get Free Report) last released its earnings results on Thursday, July 30th. The semiconductor company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.06. The company had revenue of $81.66 million for the quarter, compared to the consensus estimate of $5.96 billion. ASE Technology had a net margin of 8.52% and a return on equity of 16.12%. Research analysts anticipate that ASE Technology will post 1.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ASE Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd acquired a new stake in shares of ASE Technology during the second quarter valued at about $289,000. NorthRock Partners LLC purchased a new stake in ASE Technology in the second quarter valued at approximately $249,000. Integrated Wealth Concepts LLC acquired a new position in ASE Technology during the second quarter worth $317,000. IFP Advisors Inc lifted its stake in ASE Technology by 107.7% during the second quarter. IFP Advisors Inc now owns 947 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 491 shares in the last quarter. Finally, Nykredit A S purchased a new position in shares of ASE Technology during the second quarter worth $14,247,000. Institutional investors and hedge funds own 6.80% of the company’s stock.

ASE Technology Company Profile

(Get Free Report)

ASE Technology Holding Co, Ltd. is a Taiwan-based semiconductor manufacturing services company. Through its subsidiaries, including Advanced Semiconductor Engineering, Inc and Siliconware Precision Industries Co, Ltd., the company provides outsourced semiconductor assembly and testing (OSAT) services for chipmakers and electronics companies.

Its services include semiconductor packaging, wafer probing, final testing, electronic manufacturing services, and related materials and engineering solutions.

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