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 released on Friday.

ASE Technology Stock Down 0.5 %

ASX opened at $10.10 on Friday. ASE Technology has a twelve month low of $6.70 and a twelve month high of $11.68. The company has a quick ratio of 0.89, a current ratio of 1.16 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $10.61 and a 200 day moving average price of $9.34. The company has a market cap of $22.14 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 0.52 and a beta of 1.25.

ASE Technology (NYSE:ASX) last released its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. ASE Technology had a net margin of 5.41% and a return on equity of 10.08%. The firm had revenue of $5.05 billion during the quarter. During the same quarter last year, the company earned $0.23 EPS. Sell-side analysts expect that ASE Technology will post 0.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. UBS Group AG grew its stake in ASE Technology by 16.4% during the 3rd quarter. UBS Group AG now owns 11,456,224 shares of the semiconductor company’s stock valued at $86,151,000 after acquiring an additional 1,612,295 shares in the last quarter. Acadian Asset Management LLC grew its stake in ASE Technology by 16.5% during the 3rd quarter. Acadian Asset Management LLC now owns 6,549,328 shares of the semiconductor company’s stock valued at $49,238,000 after acquiring an additional 927,795 shares in the last quarter. Goldman Sachs Group Inc. grew 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 acquiring an additional 1,009,795 shares in the last quarter. Rafferty Asset Management LLC grew its stake in ASE Technology by 8.8% during the 4th quarter. Rafferty Asset Management LLC now owns 3,884,522 shares of the semiconductor company’s stock valued at $36,553,000 after acquiring an additional 313,300 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in ASE Technology by 37.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,966,914 shares of the semiconductor company’s stock valued at $22,311,000 after acquiring an additional 801,771 shares in the last quarter. Institutional investors and hedge funds own 6.80% of the company’s stock.

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.