ASE Technology (NYSE:ASX) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of ASE Technology (NYSE:ASX) from a buy rating to a hold rating in a report issued on Saturday.

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

ASE Technology Stock Performance

NYSE:ASX opened at $21.63 on Friday. The company has a market cap of $47.97 billion, a price-to-earnings ratio of 37.29, a PEG ratio of 0.88 and a beta of 1.41. ASE Technology has a 1 year low of $6.94 and a 1 year high of $25.28. The stock’s 50 day simple moving average is $20.56 and its two-hundred day simple moving average is $15.77. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.28 and a quick ratio of 1.00.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC raised its stake in shares of ASE Technology by 1.9% in the fourth quarter. Parallel Advisors LLC now owns 25,975 shares of the semiconductor company’s stock valued at $418,000 after acquiring an additional 482 shares during the period. Commonwealth Equity Services LLC grew its holdings in ASE Technology by 5.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,223 shares of the semiconductor company’s stock valued at $181,000 after purchasing an additional 589 shares during the last quarter. Vest Financial LLC raised its position in ASE Technology by 5.2% in the 4th quarter. Vest Financial LLC now owns 12,954 shares of the semiconductor company’s stock worth $209,000 after purchasing an additional 637 shares during the period. PNC Financial Services Group Inc. lifted its stake in ASE Technology by 0.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 120,598 shares of the semiconductor company’s stock worth $1,942,000 after purchasing an additional 643 shares during the last quarter. Finally, Frank Rimerman Advisors LLC lifted its stake in ASE Technology by 1.8% in the third quarter. Frank Rimerman Advisors LLC now owns 36,780 shares of the semiconductor company’s stock worth $408,000 after purchasing an additional 650 shares during the last quarter. 6.80% of the stock is owned by hedge funds and other institutional investors.

About ASE Technology

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.