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

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

Separately, Morgan Stanley upgraded shares of ASE Technology from an “equal weight” rating to an “overweight” rating in a research report on Monday.

ASE Technology Stock Performance

NYSE:ASX opened at $10.02 on Friday. The company has a market cap of $21.97 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 0.63 and a beta of 1.22. ASE Technology has a 1 year low of $7.25 and a 1 year high of $12.86. The stock’s 50 day simple moving average is $9.92 and its two-hundred day simple moving average is $10.60. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.17 and a quick ratio of 0.90.

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

Hedge Funds Weigh In On ASE Technology

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Principal Securities Inc. purchased a new stake in ASE Technology during the 4th quarter valued at $41,000. Ashton Thomas Private Wealth LLC bought a new position in ASE Technology during the second quarter valued at $43,000. Fifth Third Bancorp raised its stake in shares of ASE Technology by 423.8% in the second quarter. Fifth Third Bancorp now owns 6,537 shares of the semiconductor company’s stock valued at $75,000 after acquiring an additional 5,289 shares during the period. Burns Matteson Capital Management LLC bought a new stake in shares of ASE Technology in the 1st quarter worth about $107,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of ASE Technology by 36.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 11,583 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 3,103 shares during the last quarter. Hedge funds and other institutional investors 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.