ASE Technology (NYSE:ASX) Stock Rating Lowered by StockNews.com

ASE Technology (NYSE:ASX) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

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

ASE Technology Trading Down 1.4 %

NYSE ASX opened at $9.88 on Friday. The company has a fifty day simple moving average of $9.88 and a two-hundred day simple moving average of $10.60. The stock has a market cap of $21.66 billion, a P/E ratio of 21.48, a P/E/G ratio of 0.63 and a beta of 1.22. ASE Technology has a 12-month low of $7.25 and a 12-month high of $12.86. 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 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. The firm 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 previous year, the company earned $0.12 EPS. On average, analysts forecast that ASE Technology will post 0.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ASX. Russell Investments Group Ltd. grew its holdings in ASE Technology by 1,796.7% during the 1st quarter. Russell Investments Group Ltd. now owns 221,531 shares of the semiconductor company’s stock worth $2,437,000 after acquiring an additional 209,851 shares in the last quarter. Diversify Advisory Services LLC acquired a new position in ASE Technology during the 1st quarter worth approximately $812,000. Capstone Investment Advisors LLC grew its holdings in ASE Technology by 640.1% during the 1st quarter. Capstone Investment Advisors LLC now owns 107,192 shares of the semiconductor company’s stock worth $1,178,000 after acquiring an additional 92,708 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of ASE Technology during the 4th quarter worth approximately $667,000. Finally, Acadian Asset Management LLC lifted its position in shares of 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 buying an additional 4,664,258 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.