ASE Technology (NYSE:ASX) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of ASE Technology (NYSE:ASX) from a buy rating to a hold rating in a report released on Saturday morning.

Several other research firms also recently weighed in on ASX. Weiss Ratings reissued a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, January 21st. Zacks Research downgraded ASE Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

ASE Technology Trading Down 4.2%

Shares of ASE Technology stock opened at $21.13 on Friday. The company has a fifty day simple moving average of $20.45 and a 200-day simple moving average of $15.65. ASE Technology has a 12-month low of $6.94 and a 12-month high of $25.28. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. The stock has a market cap of $46.87 billion, a price-to-earnings ratio of 36.43, a PEG ratio of 0.88 and a beta of 1.42.

ASE Technology (NYSE:ASX) last announced its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.09). ASE Technology had a net margin of 6.31% and a return on equity of 12.00%. The company had revenue of $5.67 billion during the quarter, compared to analysts’ expectations of $5.47 billion. On average, equities analysts forecast that ASE Technology will post 0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ASX. Parallel Advisors LLC grew its holdings in shares of ASE Technology by 1.9% during the fourth quarter. Parallel Advisors LLC now owns 25,975 shares of the semiconductor company’s stock worth $418,000 after buying an additional 482 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of ASE Technology by 5.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 11,223 shares of the semiconductor company’s stock worth $181,000 after purchasing an additional 589 shares during the period. Vest Financial LLC lifted its holdings in shares of ASE Technology by 5.2% during the fourth quarter. Vest Financial LLC now owns 12,954 shares of the semiconductor company’s stock worth $209,000 after purchasing an additional 637 shares during the period. PNC Financial Services Group Inc. grew its position in ASE Technology by 0.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 120,598 shares of the semiconductor company’s stock valued at $1,942,000 after buying an additional 643 shares during the last quarter. Finally, Frank Rimerman Advisors LLC increased its stake in ASE Technology by 1.8% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 36,780 shares of the semiconductor company’s stock valued at $408,000 after buying an additional 650 shares during the period. 6.80% of the stock is currently owned by institutional investors and hedge funds.

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.