Zacks Research Downgrades ASE Technology (NYSE:ASX) to Hold

ASE Technology (NYSE:ASX) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Separately, Weiss Ratings raised shares of ASE Technology from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, ASE Technology presently has a consensus rating of “Moderate Buy”.

ASE Technology Stock Performance

ASE Technology stock opened at $37.06 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.07 and a quick ratio of 0.81. ASE Technology has a 12 month low of $9.85 and a 12 month high of $45.51. The company has a fifty day moving average price of $39.08 and a two-hundred day moving average price of $31.92. The company has a market cap of $82.84 billion, a PE ratio of 43.10 and a beta of 1.71.

ASE Technology (NYSE:ASX) last issued its earnings results on Thursday, July 30th. The semiconductor company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. ASE Technology had a net margin of 8.52% and a return on equity of 16.12%. The company had revenue of $81.66 million for the quarter, compared to analysts’ expectations of $5.96 billion. Research analysts expect that ASE Technology will post 1.21 earnings per share for the current year.

Institutional Investors Weigh In On ASE Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ancora Advisors LLC acquired a new position in shares of ASE Technology in the second quarter worth about $33,000. Bessemer Group Inc. grew its position in ASE Technology by 135.4% during the 1st quarter. Bessemer Group Inc. now owns 1,438 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 827 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in ASE Technology by 180,900.0% during the 4th 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 during the period. UMB Bank n.a. purchased a new stake in shares of ASE Technology in the fourth quarter valued at $32,000. Finally, Eastern Bank purchased a new position in shares of ASE Technology during the second quarter valued at $95,000. 6.80% of the stock is currently owned by institutional investors.

About ASE Technology

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.