Wall Street Zen Downgrades ASE Technology (NYSE:ASX) to Hold

ASE Technology (NYSE:ASX) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other analysts have also commented on ASX. Zacks Research lowered ASE Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Weiss Ratings reissued a “hold (c)” rating on shares of ASE Technology in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, ASE Technology presently has a consensus rating of “Hold”.

ASE Technology Trading Up 0.5%

Shares of ASE Technology stock opened at $21.54 on Friday. ASE Technology has a 1 year low of $6.94 and a 1 year high of $25.28. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.28 and a quick ratio of 1.00. The business has a 50 day moving average price of $21.69 and a 200 day moving average price of $16.81. The company has a market capitalization of $47.77 billion, a P/E ratio of 37.13, a P/E/G ratio of 0.89 and a beta of 1.42.

ASE Technology (NYSE:ASX) last announced its earnings results on Thursday, February 5th. The semiconductor company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. ASE Technology had a return on equity of 12.00% and a net margin of 6.31%.The firm had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.47 billion. Sell-side analysts anticipate that ASE Technology will post 0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ASX. Lazard Asset Management LLC boosted its holdings in shares of ASE Technology by 11.1% during the fourth quarter. Lazard Asset Management LLC now owns 20,010,829 shares of the semiconductor company’s stock worth $322,174,000 after purchasing an additional 1,997,888 shares during the last quarter. Morgan Stanley grew its position in shares of ASE Technology by 14.3% in the fourth quarter. Morgan Stanley now owns 10,607,588 shares of the semiconductor company’s stock valued at $170,782,000 after purchasing an additional 1,330,580 shares during the period. Bank of America Corp DE increased its stake in ASE Technology by 9.6% in the third quarter. Bank of America Corp DE now owns 9,661,484 shares of the semiconductor company’s stock valued at $107,146,000 after purchasing an additional 846,300 shares during the last quarter. UBS Group AG lifted its position in ASE Technology by 11.4% during the fourth quarter. UBS Group AG now owns 9,038,322 shares of the semiconductor company’s stock worth $145,517,000 after buying an additional 922,692 shares during the period. Finally, Rafferty Asset Management LLC lifted its position in ASE Technology by 50.9% during the second quarter. Rafferty Asset Management LLC now owns 7,392,190 shares of the semiconductor company’s stock worth $76,361,000 after buying an additional 2,491,918 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.