ASE Technology (NYSE:ASX) Rating Lowered to Hold at Zacks Research

ASE Technology (NYSE:ASX) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Separately, Weiss Ratings raised shares of ASE Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

ASE Technology Stock Up 2.3%

Shares of NYSE:ASX opened at $37.06 on Monday. The business’s 50 day simple moving average is $39.08 and its two-hundred day simple moving average is $31.92. The firm has a market cap of $82.84 billion, a P/E ratio of 43.10 and a beta of 1.71. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.81 and a current ratio of 1.07. ASE Technology has a 52-week low of $9.85 and a 52-week high of $45.51.

ASE Technology (NYSE:ASX) last announced its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. The firm had revenue of $81.66 million during the quarter, compared to analysts’ expectations of $5.96 billion. ASE Technology had a return on equity of 16.12% and a net margin of 8.52%. As a group, research analysts forecast that ASE Technology will post 1.21 EPS for the current fiscal year.

Institutional Trading of ASE Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC grew its holdings in shares of ASE Technology by 7.5% in the first quarter. Hsbc Holdings PLC now owns 2,014,412 shares of the semiconductor company’s stock valued at $43,654,000 after acquiring an additional 140,628 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of ASE Technology during the first quarter valued at approximately $1,341,000. Barometer Capital Management Inc. bought a new stake in ASE Technology during the first quarter worth $3,003,000. ABC Arbitrage SA bought a new stake in ASE Technology during the first quarter worth $1,308,000. Finally, UBS Group AG boosted its position in ASE Technology by 11.4% in the fourth quarter. UBS Group AG now owns 9,038,322 shares of the semiconductor company’s stock worth $145,517,000 after purchasing an additional 922,692 shares during the last quarter. 6.80% of the stock is owned by institutional investors.

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.