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

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

Several other research analysts have also issued reports on ASX. Weiss Ratings reiterated a “hold (c)” rating on shares of ASE Technology in a research note on Wednesday, January 21st. Zacks Research cut shares of ASE Technology from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, ASE Technology has a consensus rating of “Hold”.

ASE Technology Trading Down 4.2%

NYSE ASX opened at $21.13 on Friday. The firm has a market capitalization of $46.87 billion, a PE ratio of 36.43, a P/E/G ratio of 0.91 and a beta of 1.42. The stock’s 50 day moving average is $20.45 and its 200 day moving average is $15.61. ASE Technology has a twelve month low of $6.94 and a twelve month high of $25.28. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 0.57.

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

Institutional Investors Weigh In On ASE Technology

Several institutional investors have recently modified their holdings of ASX. Hsbc Holdings PLC raised its position in ASE Technology by 17.3% in the 4th quarter. Hsbc Holdings PLC now owns 1,873,784 shares of the semiconductor company’s stock worth $30,147,000 after buying an additional 276,926 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of ASE Technology by 180,900.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,810 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 1,809 shares during the last quarter. Groupama Asset Managment boosted its holdings in shares of ASE Technology by 1.7% during the 4th quarter. Groupama Asset Managment now owns 81,792 shares of the semiconductor company’s stock valued at $1,317,000 after acquiring an additional 1,346 shares during the last quarter. SG Trading Solutions LLC bought a new stake in shares of ASE Technology in the fourth quarter worth approximately $453,000. Finally, Compound Planning Inc. raised its holdings in shares of ASE Technology by 15.1% during the fourth quarter. Compound Planning Inc. now owns 42,975 shares of the semiconductor company’s stock valued at $692,000 after purchasing an additional 5,648 shares during the last quarter. 6.80% of the stock is owned by hedge funds and other institutional investors.

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.