Zacks Investment Research lowered shares of ASE Technology (NYSE:ASX) from a hold rating to a sell rating in a research report released on Monday.

According to Zacks, “ASE Technology Holding Co Ltd. is a provider of semiconductor manufacturing services in assembly and testing. The Company develops and offers complete turnkey solutions covering front-end engineering testing, wafer probing and final testing as well as IC packaging, materials and electronic manufacturing services. It operates primarily in Taiwan, China, South Korea, Japan, Singapore, Malaysia, Mexico, United States and Europe. ASE Technology Holding Co Ltd, formerly known as ASE Industrial Holding Co., is based in Kaohsiung, Taiwan. “

Other equities research analysts have also issued reports about the stock. ValuEngine upgraded shares of ASE Technology from a sell rating to a hold rating in a research note on Monday, February 4th. Macquarie lowered shares of ASE Technology from a neutral rating to an underperform rating in a research note on Wednesday, January 2nd. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The stock presently has a consensus rating of Sell and an average target price of $4.25.

Shares of NYSE ASX opened at $4.05 on Monday. ASE Technology has a twelve month low of $3.46 and a twelve month high of $8.00. The company has a market capitalization of $8.62 billion, a P/E ratio of 10.38 and a beta of 0.88. The company has a quick ratio of 0.99, a current ratio of 1.29 and a debt-to-equity ratio of 0.65.

ASE Technology (NYSE:ASX) last announced its earnings results on Wednesday, January 30th. The semiconductor company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The company had revenue of $3.70 billion for the quarter. ASE Technology had a net margin of 6.83% and a return on equity of 11.81%. Sell-side analysts expect that ASE Technology will post 0.35 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of ASE Technology during the 2nd quarter valued at $1,382,000. Northern Trust Corp bought a new stake in shares of ASE Technology during the 2nd quarter valued at $4,906,000. JPMorgan Chase & Co. grew its position in shares of ASE Technology by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 264,488 shares of the semiconductor company’s stock valued at $1,278,000 after acquiring an additional 12,800 shares during the period. First Interstate Bank bought a new stake in shares of ASE Technology during the 3rd quarter valued at $133,000. Finally, Credit Suisse AG grew its position in shares of ASE Technology by 43.5% during the 3rd quarter. Credit Suisse AG now owns 70,567 shares of the semiconductor company’s stock valued at $341,000 after acquiring an additional 21,381 shares during the period. Institutional investors and hedge funds own 5.48% of the company’s stock.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. provides a range of semiconductors packaging and testing, and electronic manufacturing services (EMS) in the United States, Taiwan, Asia, Europe, and internationally. The company offers packaging services, including flip-chip ball grid array (BGA), flip-chip chip scale package (fcCSP), advanced chip scale packages (aCSP), quad flat packages, thin quad flat packages, bump chip carrier and quad flat no-lead (QFN) packages, advanced QFN packages, plastic BGAs, high-band package on package, and 3D chip packages; stacked die solutions in various package types; and copper wire and silver bonding solutions, as well as module-based solutions.

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