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 research report sent to investors on Friday.

A number of other equities analysts have also recently commented on ASX. Nomura Securities raised shares of ASE Technology to a “strong-buy” rating in a research note on Thursday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of ASE Technology in a research report on Wednesday, October 8th. Finally, Nomura raised ASE Technology from a “neutral” rating to a “buy” rating in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

ASE Technology Price Performance

Shares of NYSE ASX opened at $15.02 on Friday. The stock’s 50-day simple moving average is $13.24 and its two-hundred day simple moving average is $11.29. ASE Technology has a twelve month low of $6.94 and a twelve month high of $16.39. The firm has a market capitalization of $33.30 billion, a P/E ratio of 31.95, a P/E/G ratio of 0.81 and a beta of 1.45. The company has a quick ratio of 0.79, a current ratio of 1.02 and a debt-to-equity ratio of 0.57.

ASE Technology (NYSE:ASX) last issued its quarterly earnings data on Thursday, October 30th. The semiconductor company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. ASE Technology had a return on equity of 10.33% and a net margin of 5.48%. As a group, equities analysts anticipate that ASE Technology will post 0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC increased its holdings in shares of ASE Technology by 35.0% in the first quarter. Acadian Asset Management LLC now owns 10,973,038 shares of the semiconductor company’s stock worth $96,110,000 after buying an additional 2,842,631 shares during the period. Rafferty Asset Management LLC increased its stake in ASE Technology by 50.9% in the 2nd quarter. Rafferty Asset Management LLC now owns 7,392,190 shares of the semiconductor company’s stock worth $76,361,000 after purchasing an additional 2,491,918 shares during the period. Millennium Management LLC increased its stake in ASE Technology by 111.1% in the 1st quarter. Millennium Management LLC now owns 3,836,018 shares of the semiconductor company’s stock worth $33,604,000 after purchasing an additional 2,018,815 shares during the period. Schroder Investment Management Group lifted its position in ASE Technology by 38.4% in the third quarter. Schroder Investment Management Group now owns 7,258,450 shares of the semiconductor company’s stock valued at $80,787,000 after purchasing an additional 2,012,970 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of ASE Technology by 18.8% during the second quarter. Bank of America Corp DE now owns 8,815,184 shares of the semiconductor company’s stock valued at $91,061,000 after purchasing an additional 1,397,206 shares during the period. 6.80% of the stock is 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.