ASE Technology (NYSE:ASX) Stock Rating Lowered by ValuEngine

ValuEngine lowered shares of ASE Technology (NYSE:ASX) from a sell rating to a strong sell rating in a research report released on Saturday, ValuEngine reports.

Other analysts have also recently issued reports about the company. Macquarie raised ASE Technology from an underperform rating to an outperform rating in a research report on Thursday, August 1st. HSBC raised ASE Technology from a hold rating to a buy rating in a report on Thursday, August 1st. Zacks Investment Research cut ASE Technology from a hold rating to a sell rating in a report on Tuesday, September 17th. Morgan Stanley cut ASE Technology from an overweight rating to an equal rating in a report on Monday, September 23rd. Finally, Goldman Sachs Group started coverage on ASE Technology in a report on Wednesday, September 4th. They issued a buy rating for the company. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. ASE Technology currently has a consensus rating of Hold and an average target price of $17.38.

ASE Technology stock opened at $5.03 on Friday. ASE Technology has a twelve month low of $3.46 and a twelve month high of $5.07. The stock has a 50 day moving average of $4.68 and a two-hundred day moving average of $4.34. The company has a current ratio of 1.19, a quick ratio of 0.90 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $10.90 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 6.56 and a beta of 0.95.

ASE Technology (NYSE:ASX) last posted its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.04 earnings per share for the quarter. ASE Technology had a return on equity of 7.52% and a net margin of 4.10%. The company had revenue of $2.92 billion during the quarter. Equities analysts predict that ASE Technology will post 0.25 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Marshall Wace North America L.P. bought a new stake in ASE Technology in the first quarter worth $61,000. Quadrant Capital Group LLC lifted its position in shares of ASE Technology by 5,615.2% during the second quarter. Quadrant Capital Group LLC now owns 130,422 shares of the semiconductor company’s stock worth $513,000 after purchasing an additional 128,140 shares during the last quarter. Mizuho Securities Co. Ltd. lifted its position in shares of ASE Technology by 201.5% during the second quarter. Mizuho Securities Co. Ltd. now owns 108,587 shares of the semiconductor company’s stock worth $429,000 after purchasing an additional 72,566 shares during the last quarter. Wedbush Securities Inc. bought a new stake in shares of ASE Technology during the second quarter worth $73,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of ASE Technology during the second quarter worth $282,000. 5.33% of the stock is owned by institutional investors and hedge funds.

About ASE Technology

ASE Technology Holding Co, Ltd. provides a range of semiconductors packaging and testing, and electronic manufacturing services (EMS) in the United States, Taiwan, Asia, Europe, and internationally. The company offers packaging services, including flip-chip ball grid array (BGA), flip-chip chip scale package (fcCSP), advanced chip scale packages (aCSP), quad flat packages, thin quad flat packages, bump chip carrier and quad flat no-lead (QFN) packages, advanced QFN packages, plastic BGAs, high-band package on package, and 3D chip packages; stacked die solutions in various package types; and copper wire and silver bonding solutions, as well as module-based solutions.

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Analyst Recommendations for ASE Technology (NYSE:ASX)

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