ASE Technology (NYSE:ASX) Downgraded to “Hold” at StockNews.com

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

Separately, Morgan Stanley downgraded shares of ASE Technology from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, June 25th.

ASE Technology Trading Up 1.2 %

ASE Technology stock traded up $0.11 during trading on Wednesday, hitting $9.22. The company had a trading volume of 10,199,790 shares, compared to its average volume of 6,787,762. The company has a current ratio of 1.17, a quick ratio of 0.90 and a debt-to-equity ratio of 0.33. The company’s 50 day simple moving average is $10.38 and its 200-day simple moving average is $10.62. ASE Technology has a 1-year low of $7.25 and a 1-year high of $12.86. The stock has a market cap of $20.20 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 0.66 and a beta of 1.21.

ASE Technology (NYSE:ASX) last issued its earnings results on Thursday, July 25th. The semiconductor company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. ASE Technology had a net margin of 5.38% and a return on equity of 9.90%. The firm had revenue of $4.33 billion for the quarter. During the same period last year, the business earned $0.12 EPS. As a group, analysts expect that ASE Technology will post 0.51 EPS for the current fiscal year.

Institutional Trading of ASE Technology

Several hedge funds have recently made changes to their positions in ASX. Allspring Global Investments Holdings LLC lifted its holdings in shares of ASE Technology by 7.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 16,023 shares of the semiconductor company’s stock valued at $183,000 after buying an additional 1,046 shares during the period. Beverly Hills Private Wealth LLC boosted its position in shares of ASE Technology by 5.4% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 22,195 shares of the semiconductor company’s stock worth $253,000 after purchasing an additional 1,130 shares in the last quarter. Atomi Financial Group Inc. boosted its position in shares of ASE Technology by 3.6% during the 2nd quarter. Atomi Financial Group Inc. now owns 38,924 shares of the semiconductor company’s stock worth $445,000 after purchasing an additional 1,345 shares in the last quarter. Claro Advisors LLC grew its stake in shares of ASE Technology by 4.2% during the 1st quarter. Claro Advisors LLC now owns 37,798 shares of the semiconductor company’s stock worth $415,000 after purchasing an additional 1,529 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of ASE Technology by 13.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 17,295 shares of the semiconductor company’s stock valued at $198,000 after purchasing an additional 2,083 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., 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.