ASE Technology (NYSE:ASX) Cut to “Hold” at StockNews.com

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

ASE Technology Trading Down 0.4 %

Shares of NYSE:ASX traded down $0.04 during trading on Friday, hitting $10.11. The company had a trading volume of 6,221,843 shares, compared to its average volume of 6,130,194. The stock has a market cap of $22.15 billion, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 0.54 and a beta of 1.25. ASE Technology has a one year low of $6.70 and a one year high of $11.68. The company has a fifty day simple moving average of $10.60 and a two-hundred day simple moving average of $9.33. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.16 and a quick ratio of 0.89.

ASE Technology (NYSE:ASX) last posted its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. The business had revenue of $5.05 billion during the quarter. ASE Technology had a return on equity of 10.29% and a net margin of 5.44%. During the same period in the previous year, the business earned $0.23 earnings per share. As a group, equities analysts forecast that ASE Technology will post 0.67 earnings per share for the current year.

Institutional Investors Weigh In On ASE Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Bleakley Financial Group LLC increased its holdings in ASE Technology by 4.5% during the 4th quarter. Bleakley Financial Group LLC now owns 31,170 shares of the semiconductor company’s stock worth $293,000 after purchasing an additional 1,353 shares during the period. Simplicity Solutions LLC increased its holdings in ASE Technology by 4.5% during the 4th quarter. Simplicity Solutions LLC now owns 31,170 shares of the semiconductor company’s stock worth $293,000 after purchasing an additional 1,353 shares during the period. PDS Planning Inc increased its holdings in ASE Technology by 4.1% during the 3rd quarter. PDS Planning Inc now owns 35,758 shares of the semiconductor company’s stock worth $269,000 after purchasing an additional 1,406 shares during the period. Bank of New York Mellon Corp increased its holdings in ASE Technology by 1.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 100,464 shares of the semiconductor company’s stock worth $755,000 after purchasing an additional 1,466 shares during the period. Finally, Panagora Asset Management Inc. increased its holdings in ASE Technology by 5.5% during the 3rd quarter. Panagora Asset Management Inc. now owns 28,131 shares of the semiconductor company’s stock worth $212,000 after purchasing an additional 1,478 shares during the period. 6.80% of the stock is owned by institutional investors.

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.