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

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

ASE Technology Price Performance

NYSE ASX traded down $0.04 on Friday, reaching $10.11. The company’s stock had a trading volume of 6,221,843 shares, compared to its average volume of 6,130,194. The firm has a market cap of $22.15 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 0.54 and a beta of 1.25. The business has a 50-day moving average price of $10.60 and a 200 day moving average price of $9.33. ASE Technology has a 52 week low of $6.70 and a 52 week high of $11.68. The company has a current ratio of 1.16, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32.

ASE Technology (NYSE:ASX) last issued its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. The firm had revenue of $5.05 billion for the quarter. ASE Technology had a net margin of 5.44% and a return on equity of 10.29%. During the same period in the prior year, the company posted $0.23 earnings per share. Sell-side analysts expect that ASE Technology will post 0.67 EPS for the current year.

Institutional Trading of ASE Technology

Hedge funds have recently modified their holdings of the stock. UBS Group AG lifted its holdings in ASE Technology by 16.4% in the third quarter. UBS Group AG now owns 11,456,224 shares of the semiconductor company’s stock valued at $86,151,000 after buying an additional 1,612,295 shares during the period. Goldman Sachs Group Inc. lifted its holdings in ASE Technology by 35.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,884,868 shares of the semiconductor company’s stock valued at $36,557,000 after buying an additional 1,009,795 shares during the period. Acadian Asset Management LLC raised its holdings in ASE Technology by 16.5% in the third quarter. Acadian Asset Management LLC now owns 6,549,328 shares of the semiconductor company’s stock worth $49,238,000 after purchasing an additional 927,795 shares during the period. Envestnet Asset Management Inc. raised its holdings in ASE Technology by 37.0% in the third quarter. Envestnet Asset Management Inc. now owns 2,966,914 shares of the semiconductor company’s stock worth $22,311,000 after purchasing an additional 801,771 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in ASE Technology by 65.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,754,966 shares of the semiconductor company’s stock worth $13,197,000 after purchasing an additional 694,048 shares during the period. 6.80% of the stock is owned by institutional investors.

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.