ASE Technology (NYSE:ASX) Rating Downgraded to Hold on StockNews.com

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StockNews.com downgraded shares of ASE technology (NYSE: ASXGet a rating) from a buy rating to a hold rating in a research report released on Friday.

Separately, Zacks Investment Research upgraded ASE Technology from a buy rating to a hold rating in a research note on Tuesday. Six investment analysts gave the stock a holding rating. Based on data from MarketBeat, the company currently has an average holding rating and a consensus price target of $8.18.

Shares of ASX opened at $6.72 on Friday. The company has a market capitalization of $14.75 billion, a P/E ratio of 6.52, a PEG ratio of 0.26 and a beta of 1.03. The stock has a fifty-day moving average price of $7.21 and a 200-day moving average price of $7.33. The company has a debt ratio of 0.59, a current ratio of 1.35 and a quick ratio of 1.03. ASE Technology has a 12-month low of $6.53 and a 12-month high of $9.62.

ASE technology (NYSE: ASXGet a rating) last released its quarterly earnings data on Thursday, February 10. The semiconductor company reported EPS of $0.50 for the quarter. ASE Technology achieved a return on equity of 25.07% and a net margin of 11.23%. The company had revenue of $6.19 billion in the quarter. In the same quarter of the previous year, the company had earned earnings per share of $0.16. As a group, research analysts expect ASE Technology to post earnings per share of 0.92 for the current year.

Institutional investors have recently changed their positions in the company. Clearstead Advisors LLC increased its holdings of ASE Technology shares by 131.1% in the third quarter. Clearstead Advisors LLC now owns 3,677 shares of the semiconductor company valued at $29,000 after buying 2,086 additional shares during the period. CVA Family Office LLC acquired a new stake in shares of ASE Technology in the fourth quarter at a value of $32,000. National Bank of Canada FI acquired a new stake in the shares of ASE Technology in the fourth quarter at a value of $33,000. D Orazio & Associates Inc. acquired a new stake in shares of ASE Technology in the third quarter at a value of $36,000. Finally, Advanced Research Investment Solutions LLC acquired a new stake in ASE Technology stock in the third quarter worth $39,000. Institutional investors and hedge funds own 6.77% of the company’s shares.

About ASE Technology (Get a rating)

ASE Technology Holding Co, Ltd. provides a range of semiconductor and electronic manufacturing packaging and testing services in the United States, Taiwan, the rest of Asia, Europe and internationally. The Company offers packaging services, including flip chip ball gate array (BGA), flip chip chip ladder package (CSP), advanced chip ladder packages, quad flat packages, low profile and thin quad flat packages, bump chip carrier and quad flat no-lead packages (QFNs), advanced QFN packages, plastic BGAs and 3D chip packages; stacked matrix solutions in various types of packaging; and copper and silver wire bonding solutions.

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