ASE Technology (NYSE:ASX) Downgraded to “Hold” at StockNews.com

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

Separately, Morgan Stanley raised shares of ASE Technology from an “equal weight” rating to an “overweight” rating in a research note on Monday, September 16th.

ASE Technology Stock Performance

NYSE:ASX opened at $9.88 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.17 and a debt-to-equity ratio of 0.33. ASE Technology has a fifty-two week low of $7.25 and a fifty-two week high of $12.86. The stock has a market cap of $21.66 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 0.63 and a beta of 1.22. The firm’s fifty day simple moving average is $9.88 and its 200-day simple moving average is $10.60.

ASE Technology (NYSE:ASX) last posted its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. ASE Technology had a net margin of 5.38% and a return on equity of 9.90%. The business had revenue of $4.33 billion for the quarter. During the same period last year, the company earned $0.12 earnings per share. Analysts expect that ASE Technology will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ASE Technology

Large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its stake in shares of ASE Technology by 1,796.7% during the 1st quarter. Russell Investments Group Ltd. now owns 221,531 shares of the semiconductor company’s stock worth $2,437,000 after purchasing an additional 209,851 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in shares of ASE Technology during the 1st quarter worth about $812,000. Capstone Investment Advisors LLC lifted its holdings in shares of ASE Technology by 640.1% during the 1st quarter. Capstone Investment Advisors LLC now owns 107,192 shares of the semiconductor company’s stock worth $1,178,000 after acquiring an additional 92,708 shares during the period. Virtu Financial LLC purchased a new position in shares of ASE Technology during the 4th quarter worth about $667,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of ASE Technology by 89.7% during the 1st quarter. Acadian Asset Management LLC now owns 9,861,612 shares of the semiconductor company’s stock worth $108,364,000 after acquiring an additional 4,664,258 shares during the period. 6.80% of the stock is owned by institutional investors and hedge funds.

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.