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

StockNews.com lowered shares of ASE Technology (NYSE:ASX) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

Separately, Morgan Stanley raised shares of ASE Technology from an equal weight rating to an overweight rating in a research report on Monday, September 16th.

ASE Technology Trading Up 1.2 %

Shares of ASE Technology stock opened at $10.00 on Friday. The firm has a market capitalization of $21.92 billion, a PE ratio of 21.74, a P/E/G ratio of 0.63 and a beta of 1.22. ASE Technology has a twelve month low of $7.25 and a twelve month high of $12.86. The firm’s 50-day moving average price is $9.84 and its 200 day moving average price is $10.59. The company has a current ratio of 1.17, a quick ratio of 0.90 and a debt-to-equity ratio of 0.33.

ASE Technology (NYSE:ASX) last released its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.11 EPS for the quarter, meeting 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 during the quarter. During the same quarter in the previous year, the company posted $0.12 EPS. On average, sell-side analysts predict that ASE Technology will post 0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ASX. Lazard Asset Management LLC boosted its holdings in ASE Technology by 2.8% during the first quarter. Lazard Asset Management LLC now owns 21,308,753 shares of the semiconductor company’s stock worth $234,182,000 after buying an additional 584,333 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in ASE Technology by 89.7% during the first quarter. Acadian Asset Management LLC now owns 9,861,612 shares of the semiconductor company’s stock worth $108,364,000 after buying an additional 4,664,258 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in ASE Technology by 35.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,884,868 shares of the semiconductor company’s stock worth $36,557,000 after buying an additional 1,009,795 shares in the last quarter. Rafferty Asset Management LLC boosted its holdings in ASE Technology by 8.8% during the fourth quarter. Rafferty Asset Management LLC now owns 3,884,522 shares of the semiconductor company’s stock worth $36,553,000 after buying an additional 313,300 shares in the last quarter. Finally, Earnest Partners LLC boosted its holdings in ASE Technology by 10.4% during the second quarter. Earnest Partners LLC now owns 2,840,090 shares of the semiconductor company’s stock worth $32,434,000 after buying an additional 266,991 shares in the last quarter. 6.80% of the stock is currently owned by institutional investors and hedge funds.

About ASE Technology

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.