ASE Technology (NYSE:ASX) Downgraded by StockNews.com

StockNews.com lowered shares of ASE Technology (NYSE:ASX) from a buy rating to a hold rating in a research note published on Wednesday.

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

ASE Technology Price Performance

Shares of NYSE ASX opened at $8.94 on Wednesday. ASE Technology has a fifty-two week low of $7.25 and a fifty-two week high of $12.86. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.17 and a quick ratio of 0.90. The stock has a market capitalization of $19.60 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 0.66 and a beta of 1.21. The business has a 50-day moving average of $10.28 and a 200-day moving average of $10.61.

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

Institutional Investors Weigh In On ASE Technology

Several hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC raised its position in ASE Technology by 89.7% during the 1st quarter. Acadian Asset Management LLC now owns 9,861,612 shares of the semiconductor company’s stock worth $108,364,000 after purchasing an additional 4,664,258 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in ASE Technology by 35.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,884,868 shares of the semiconductor company’s stock valued at $36,557,000 after purchasing an additional 1,009,795 shares during the last quarter. Lazard Asset Management LLC boosted its stake in ASE Technology by 2.8% during the 1st quarter. Lazard Asset Management LLC now owns 21,308,753 shares of the semiconductor company’s stock valued at $234,182,000 after purchasing an additional 584,333 shares during the last quarter. Moran Wealth Management LLC acquired a new position in ASE Technology during the 4th quarter valued at about $5,345,000. Finally, Driehaus Capital Management LLC boosted its stake in shares of ASE Technology by 105.3% in the 2nd quarter. Driehaus Capital Management LLC now owns 982,028 shares of the semiconductor company’s stock worth $11,215,000 after buying an additional 503,765 shares during 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.