StockNews.com Lowers ASE Technology (NYSE:ASX) to Hold

ASE Technology (NYSE:ASX) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Separately, Morgan Stanley raised shares of ASE Technology from an “equal weight” rating to an “overweight” rating in a report on Monday.

ASE Technology Stock Up 4.4 %

ASX stock opened at $10.02 on Friday. The company has a market cap of $21.97 billion, a price-to-earnings ratio of 21.78, a P/E/G ratio of 0.63 and a beta of 1.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.90 and a current ratio of 1.17. The business’s 50-day moving average is $9.92 and its two-hundred day moving average is $10.60. ASE Technology has a fifty-two week low of $7.25 and a fifty-two week high of $12.86.

ASE Technology (NYSE:ASX) last posted its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. ASE Technology had a net margin of 5.38% and a return on equity of 9.90%. The company had revenue of $4.33 billion for the quarter. During the same period in the previous year, the business posted $0.12 EPS. As a group, analysts forecast that ASE Technology will post 0.51 earnings per share for the current year.

Institutional Investors Weigh In On ASE Technology

A number of institutional investors and hedge funds have recently bought and sold shares of ASX. Principal Securities Inc. purchased a new stake in shares of ASE Technology during the fourth quarter worth about $41,000. Ashton Thomas Private Wealth LLC purchased a new stake in ASE Technology during the 2nd quarter valued at approximately $43,000. Fifth Third Bancorp raised its position in shares of ASE Technology by 423.8% during the second quarter. Fifth Third Bancorp now owns 6,537 shares of the semiconductor company’s stock valued at $75,000 after buying an additional 5,289 shares during the last quarter. Burns Matteson Capital Management LLC purchased a new position in shares of ASE Technology in the first quarter worth $107,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of ASE Technology by 36.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 11,583 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 3,103 shares during the last quarter. 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.