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

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

Several other research analysts have also weighed in on ASX. Zacks Research lowered shares of ASE Technology from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ASE Technology in a research report on Wednesday, January 21st. One investment 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

ASE Technology Price Performance

ASX stock opened at $21.54 on Friday. The stock’s 50 day moving average is $21.69 and its two-hundred day moving average is $16.89. ASE Technology has a 52-week low of $6.94 and a 52-week high of $25.28. The company has a market capitalization of $47.77 billion, a PE ratio of 37.13, a P/E/G ratio of 0.89 and a beta of 1.41. 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 released its earnings results on Thursday, February 5th. The semiconductor company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. The company had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.47 billion. ASE Technology had a return on equity of 12.00% and a net margin of 6.31%. Analysts predict that ASE Technology will post 0.76 earnings per share for the current fiscal year.

Institutional Trading of ASE Technology

Several institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC bought a new stake in shares of ASE Technology during the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd boosted its position in 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 worth $29,000 after acquiring an additional 1,809 shares during the period. Eagle Bay Advisors LLC bought a new position in ASE Technology in the 4th quarter valued at about $32,000. UMB Bank n.a. bought a new position in shares of ASE Technology in the fourth quarter valued at approximately $32,000. Finally, SBI Securities Co. Ltd. increased its position in shares of ASE Technology by 256.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,495 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 1,795 shares during the period. Institutional investors 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.