StockNews.com Downgrades ASE Technology (NYSE:ASX) to Hold

ASE Technology (NYSE:ASX) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

ASE Technology Trading Down 0.5 %

Shares of ASE Technology stock opened at $10.10 on Friday. The firm has a market cap of $22.14 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 0.52 and a beta of 1.25. The business has a 50-day moving average price of $10.61 and a 200-day moving average price of $9.34. The company has a quick ratio of 0.89, a current ratio of 1.16 and a debt-to-equity ratio of 0.32. ASE Technology has a twelve month low of $6.70 and a twelve month high of $11.68.

ASE Technology (NYSE:ASX) last issued its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The firm had revenue of $5.05 billion during the quarter. ASE Technology had a return on equity of 10.08% and a net margin of 5.41%. During the same quarter in the previous year, the business earned $0.23 EPS. Equities research analysts anticipate that ASE Technology will post 0.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASX. PDS Planning Inc grew its position in ASE Technology by 4.1% in the third quarter. PDS Planning Inc now owns 35,758 shares of the semiconductor company’s stock worth $269,000 after acquiring an additional 1,406 shares in the last quarter. Bank of New York Mellon Corp grew its position in ASE Technology by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 100,464 shares of the semiconductor company’s stock worth $755,000 after acquiring an additional 1,466 shares in the last quarter. Advisor Partners II LLC grew its position in ASE Technology by 90.4% in the third quarter. Advisor Partners II LLC now owns 67,905 shares of the semiconductor company’s stock worth $511,000 after acquiring an additional 32,237 shares in the last quarter. Henry James International Management Inc. lifted its stake in ASE Technology by 15.2% in the third quarter. Henry James International Management Inc. now owns 90,987 shares of the semiconductor company’s stock worth $684,000 after purchasing an additional 12,002 shares during the last quarter. Finally, TIAA Trust National Association bought a new stake in ASE Technology in the third quarter worth about $111,000. Hedge funds and other institutional investors own 6.80% of the company’s stock.

About ASE Technology

ASE Technology Holding Co, Ltd., together with its subsidiaries, provides semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, Asia, Europe, and internationally. It develops, constructs, sells, leases, and manages real estate properties; produces substrates; offers information software, equipment leasing, investment advisory, and warehousing management services; commercial complex, after-sales, and support services; manages parking lot services; processes and sells computer and communication peripherals, electronic components, telecommunications equipment, and motherboards; and imports and exports goods and technology.