ASE Technology (NYSE:ASX) Stock Rating Lowered by Wall Street Zen

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

A number of other brokerages have also recently issued reports on ASX. Weiss Ratings upgraded shares of ASE Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Zacks Research downgraded ASE Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 24th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

ASE Technology Trading Down 0.1%

ASE Technology stock opened at $41.59 on Friday. The business has a 50 day moving average price of $37.95 and a two-hundred day moving average price of $33.83. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.54. ASE Technology has a 12 month low of $10.93 and a 12 month high of $45.51. The stock has a market cap of $92.97 billion, a price-to-earnings ratio of 48.36 and a beta of 1.71.

ASE Technology (NYSE:ASX) last announced its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.06. The company had revenue of $81.66 million for the quarter, compared to analyst estimates of $5.96 billion. ASE Technology had a return on equity of 16.12% and a net margin of 8.52%. As a group, equities analysts forecast that ASE Technology will post 1.23 EPS for the current year.

Institutional Investors Weigh In On ASE Technology

Hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC raised its stake in shares of ASE Technology by 7.5% in the first quarter. Hsbc Holdings PLC now owns 2,014,412 shares of the semiconductor company’s stock valued at $43,654,000 after acquiring an additional 140,628 shares during the last quarter. Natixis Advisors LLC increased its holdings in ASE Technology by 1.7% during the 4th quarter. Natixis Advisors LLC now owns 2,543,138 shares of the semiconductor company’s stock valued at $40,945,000 after purchasing an additional 42,623 shares in the last quarter. Dimensional Fund Advisors LP raised its position in ASE Technology by 9.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,399,553 shares of the semiconductor company’s stock valued at $30,342,000 after purchasing an additional 125,324 shares during the last quarter. Sei Investments Co. raised its position in ASE Technology by 12.1% in the 1st quarter. Sei Investments Co. now owns 812,019 shares of the semiconductor company’s stock valued at $17,604,000 after purchasing an additional 87,689 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in ASE Technology by 59.7% in the fourth quarter. BNP Paribas Financial Markets now owns 898,625 shares of the semiconductor company’s stock worth $14,468,000 after purchasing an additional 335,973 shares in the last quarter. Institutional investors and hedge funds own 6.80% of the company’s stock.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. is a Taiwan-based semiconductor manufacturing services company. Through its subsidiaries, including Advanced Semiconductor Engineering, Inc and Siliconware Precision Industries Co, Ltd., the company provides outsourced semiconductor assembly and testing (OSAT) services for chipmakers and electronics companies.

Its services include semiconductor packaging, wafer probing, final testing, electronic manufacturing services, and related materials and engineering solutions.