ASE Technology (NYSE:ASX) Downgraded to “Hold” Rating by Wall Street Zen

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

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

ASE Technology Price Performance

NYSE ASX opened at $21.13 on Friday. The stock has a market capitalization of $46.87 billion, a price-to-earnings ratio of 36.43, a PEG ratio of 0.91 and a beta of 1.42. ASE Technology has a 1-year low of $6.94 and a 1-year high of $25.28. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.28 and a quick ratio of 1.00. The business’s fifty day moving average price is $20.45 and its 200-day moving average price is $15.61.

ASE Technology (NYSE:ASX) last announced its earnings results on Thursday, February 5th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.09). The firm had revenue of $5.67 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%. On average, equities analysts predict that ASE Technology will post 0.76 earnings per share for the current year.

Institutional Trading of ASE Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASX. Nisa Investment Advisors LLC purchased a new stake in ASE Technology in the 4th quarter worth $27,000. Caitong International Asset Management Co. Ltd grew its position in shares of ASE Technology by 180,900.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,810 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 1,809 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of ASE Technology by 1,704.8% in the third quarter. Smartleaf Asset Management LLC now owns 2,653 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 2,506 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of ASE Technology in the fourth quarter worth about $32,000. Finally, UMB Bank n.a. purchased a new stake in shares of ASE Technology in the fourth quarter worth about $32,000. 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.