ASE Technology (NYSE:ASX) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of ASE Technology (NYSE:ASX) from a buy rating to a hold rating in a research report sent to investors on Sunday.

ASX has been the topic of a number of other reports. Nomura raised shares of ASE Technology from a “neutral” rating to a “buy” rating in a research report on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, October 8th. Zacks Research cut shares of ASE Technology from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Finally, Nomura Securities raised ASE Technology to a “strong-buy” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

ASE Technology Stock Performance

Shares of ASX opened at $17.55 on Friday. ASE Technology has a 1 year low of $6.94 and a 1 year high of $17.81. The stock has a market capitalization of $38.92 billion, a PE ratio of 35.09, a PEG ratio of 0.69 and a beta of 1.45. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 1.13. The stock has a 50-day simple moving average of $15.32 and a 200-day simple moving average of $12.40.

ASE Technology (NYSE:ASX) last released its quarterly earnings data on Thursday, October 30th. The semiconductor company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. ASE Technology had a net margin of 5.61% and a return on equity of 10.67%. On average, analysts predict that ASE Technology will post 0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ASE Technology

A number of large investors have recently modified their holdings of ASX. Acadian Asset Management LLC boosted its stake in shares of ASE Technology by 35.0% in the 1st quarter. Acadian Asset Management LLC now owns 10,973,038 shares of the semiconductor company’s stock valued at $96,110,000 after purchasing an additional 2,842,631 shares in the last quarter. Rafferty Asset Management LLC lifted its stake in ASE Technology by 50.9% in the 2nd quarter. Rafferty Asset Management LLC now owns 7,392,190 shares of the semiconductor company’s stock valued at $76,361,000 after purchasing an additional 2,491,918 shares during the last quarter. Millennium Management LLC lifted its stake in ASE Technology by 111.1% in the 1st quarter. Millennium Management LLC now owns 3,836,018 shares of the semiconductor company’s stock valued at $33,604,000 after purchasing an additional 2,018,815 shares during the last quarter. Schroder Investment Management Group boosted its position in ASE Technology by 38.4% in the third quarter. Schroder Investment Management Group now owns 7,258,450 shares of the semiconductor company’s stock valued at $80,787,000 after buying an additional 2,012,970 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of ASE Technology by 18.8% during the second quarter. Bank of America Corp DE now owns 8,815,184 shares of the semiconductor company’s stock worth $91,061,000 after buying an additional 1,397,206 shares during the last quarter. Institutional investors and hedge funds own 6.80% of the company’s stock.

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.