Advanced Semiconductor Engineering, Inc. (NYSE:ASX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

According to Zacks, “Advanced Semiconductor Engineering, Inc. is an independent provider of semiconductor packaging services and semiconductor testing services, including front-end engineering testing, wafer probing and final testing services. The company offers packaging and testing services separately and on a turnkey basis. Turnkey services consist of integrated packaging, testing and direct shipment of semiconductors to end users designated by customers. The company is able to expand the traditional scope of turnkey services to offer total semiconductor manufacturing services to customers. “

Advanced Semiconductor Engineering (NYSE ASX) traded up 0.16% during mid-day trading on Tuesday, reaching $6.16. The company’s stock had a trading volume of 957,669 shares. Advanced Semiconductor Engineering has a 52 week low of $4.89 and a 52 week high of $6.70. The stock has a market capitalization of $10.00 billion, a price-to-earnings ratio of 13.84 and a beta of 0.52. The firm has a 50-day moving average of $6.19 and a 200-day moving average of $6.26.

Advanced Semiconductor Engineering (NYSE:ASX) last posted its earnings results on Friday, October 27th. The semiconductor company reported $0.12 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. The company had revenue of $2.44 billion during the quarter. Advanced Semiconductor Engineering had a return on equity of 14.40% and a net margin of 8.74%. On average, equities research analysts expect that Advanced Semiconductor Engineering will post $0.43 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of ASX. Empirical Finance LLC boosted its position in shares of Advanced Semiconductor Engineering by 24.4% during the second quarter. Empirical Finance LLC now owns 17,341 shares of the semiconductor company’s stock worth $110,000 after buying an additional 3,396 shares during the period. Stifel Financial Corp boosted its position in shares of Advanced Semiconductor Engineering by 71.9% during the second quarter. Stifel Financial Corp now owns 19,465 shares of the semiconductor company’s stock worth $123,000 after buying an additional 8,140 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Advanced Semiconductor Engineering by 106.0% during the second quarter. PNC Financial Services Group Inc. now owns 22,281 shares of the semiconductor company’s stock worth $141,000 after buying an additional 11,466 shares during the period. Paloma Partners Management Co acquired a new position in shares of Advanced Semiconductor Engineering during the first quarter worth approximately $153,000. Finally, Nomura Holdings Inc. acquired a new position in shares of Advanced Semiconductor Engineering during the second quarter worth approximately $158,000. Institutional investors and hedge funds own 5.83% of the company’s stock.

Advanced Semiconductor Engineering Company Profile

Advanced Semiconductor Engineering, Inc is a provider of semiconductor packaging and testing services. The Company offers a range of semiconductors packaging, testing and electronic manufacturing services (EMS). The Company’s segments include Packaging, Testing, EMS and Others. The Company provides services in packaging bare semiconductors into finished semiconductors with a range of electrical and thermal characteristics, as well as testing services, including front-end engineering testing, wafer probing and final testing services.

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