ASE Technology (NYSE:ASX) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of ASE Technology (NYSE:ASX) from a buy rating to a hold rating in a research report released on Friday morning.

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

ASE Technology Stock Performance

Shares of ASX opened at $10.00 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.90 and a current ratio of 1.17. The company has a market capitalization of $21.92 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 0.63 and a beta of 1.22. The company’s 50 day simple moving average is $9.84 and its 200 day simple moving average is $10.59. ASE Technology has a 1 year low of $7.25 and a 1 year high of $12.86.

ASE Technology (NYSE:ASX) last issued its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. ASE Technology had a net margin of 5.38% and a return on equity of 9.90%. The firm had revenue of $4.33 billion during the quarter. During the same period last year, the company posted $0.12 EPS. On average, sell-side analysts predict that ASE Technology will post 0.51 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC lifted its position in shares of ASE Technology by 89.7% in the 1st quarter. Acadian Asset Management LLC now owns 9,861,612 shares of the semiconductor company’s stock worth $108,364,000 after buying an additional 4,664,258 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in ASE Technology by 35.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,884,868 shares of the semiconductor company’s stock valued at $36,557,000 after purchasing an additional 1,009,795 shares during the period. Lazard Asset Management LLC boosted its stake in ASE Technology by 2.8% during the 1st quarter. Lazard Asset Management LLC now owns 21,308,753 shares of the semiconductor company’s stock valued at $234,182,000 after purchasing an additional 584,333 shares during the period. Driehaus Capital Management LLC boosted its stake in ASE Technology by 105.3% during the 2nd quarter. Driehaus Capital Management LLC now owns 982,028 shares of the semiconductor company’s stock valued at $11,215,000 after purchasing an additional 503,765 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in ASE Technology by 528.5% during the 2nd quarter. Squarepoint Ops LLC now owns 478,766 shares of the semiconductor company’s stock valued at $5,468,000 after purchasing an additional 402,585 shares during the period. 6.80% of the stock is currently owned by institutional investors.

ASE Technology Company Profile

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.