ASE Technology (NYSE:ASX) Downgraded by Morgan Stanley

Morgan Stanley lowered shares of ASE Technology (NYSE:ASX) from an overweight rating to an equal weight rating in a report published on Tuesday, Marketbeat.com reports.

Separately, StockNews.com raised shares of ASE Technology from a hold rating to a buy rating in a research report on Thursday, June 13th.

ASE Technology Stock Down 0.4 %

Shares of NYSE:ASX opened at $11.42 on Tuesday. The company has a 50 day moving average of $10.87 and a 200-day moving average of $10.22. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.19 and a quick ratio of 0.92. The stock has a market cap of $25.04 billion, a price-to-earnings ratio of 24.83, a P/E/G ratio of 0.65 and a beta of 1.20. ASE Technology has a one year low of $7.20 and a one year high of $12.23.

ASE Technology (NYSE:ASX) last announced its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). ASE Technology had a net margin of 5.41% and a return on equity of 10.09%. The firm had revenue of $4.24 billion during the quarter. During the same quarter last year, the company earned $0.09 EPS. On average, sell-side analysts forecast that ASE Technology will post 0.62 earnings per share for the current year.

ASE Technology Cuts Dividend

The company also recently announced an annual dividend, which will be paid on Friday, August 2nd. Investors of record on Tuesday, July 2nd will be paid a $0.3209 dividend. The ex-dividend date is Tuesday, July 2nd. This represents a dividend yield of 2.2%. ASE Technology’s dividend payout ratio is presently 91.31%.

Institutional Trading of ASE Technology

Large investors have recently added to or reduced their stakes in the company. Bleakley Financial Group LLC grew its stake in shares of ASE Technology by 4.5% in the fourth quarter. Bleakley Financial Group LLC now owns 31,170 shares of the semiconductor company’s stock valued at $293,000 after acquiring an additional 1,353 shares in the last quarter. Simplicity Solutions LLC raised its stake in ASE Technology by 4.5% during the fourth quarter. Simplicity Solutions LLC now owns 31,170 shares of the semiconductor company’s stock worth $293,000 after buying an additional 1,353 shares during the last quarter. Claro Advisors LLC increased its holdings in ASE Technology by 4.2% in the first 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 in the last quarter. Caprock Group LLC lifted its stake in ASE Technology by 2.9% in the fourth quarter. Caprock Group LLC now owns 57,308 shares of the semiconductor company’s stock valued at $539,000 after buying an additional 1,615 shares during the period. Finally, Atomi Financial Group Inc. boosted its holdings in shares of ASE Technology by 4.7% during the 1st quarter. Atomi Financial Group Inc. now owns 37,579 shares of the semiconductor company’s stock worth $413,000 after buying an additional 1,701 shares in the last quarter. Institutional investors and hedge funds own 6.80% of the company’s stock.

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.