ASE Technology (NYSE:ASX) Cut to “Hold” at Wall Street Zen

ASE Technology (NYSE:ASX) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Friday.

ASX has been the subject of several other reports. Nomura Securities raised shares of ASE Technology to a “strong-buy” rating in a research report on Thursday, October 30th. Nomura upgraded shares of ASE Technology from a “neutral” rating to a “buy” rating in a report on Thursday, October 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, ASE Technology presently has a consensus rating of “Buy”.

ASE Technology Stock Up 4.3%

NYSE ASX traded up $0.62 on Friday, reaching $15.02. The stock had a trading volume of 5,356,411 shares, compared to its average volume of 9,942,196. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.57. ASE Technology has a 1 year low of $6.94 and a 1 year high of $16.39. The business has a 50 day moving average price of $13.24 and a 200 day moving average price of $11.27. The company has a market capitalization of $33.30 billion, a price-to-earnings ratio of 31.95, a P/E/G ratio of 0.81 and a beta of 1.45.

ASE Technology (NYSE:ASX) last announced its quarterly earnings results on Thursday, October 30th. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. ASE Technology had a return on equity of 10.33% and a net margin of 5.48%. On average, analysts forecast that ASE Technology will post 0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On ASE Technology

A number of hedge funds have recently bought and sold shares of ASX. Choreo LLC increased its stake in shares of ASE Technology by 10.7% in the first quarter. Choreo LLC now owns 11,520 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 1,113 shares during the period. Cetera Investment Advisers grew its holdings in ASE Technology by 7.3% in the 1st quarter. Cetera Investment Advisers now owns 29,578 shares of the semiconductor company’s stock valued at $259,000 after buying an additional 2,020 shares during the last quarter. HB Wealth Management LLC increased its position in ASE Technology by 26.2% in the 1st quarter. HB Wealth Management LLC now owns 13,203 shares of the semiconductor company’s stock worth $116,000 after buying an additional 2,741 shares during the period. Mackenzie Financial Corp acquired a new position in shares of ASE Technology during the first quarter worth approximately $2,067,000. Finally, Federated Hermes Inc. boosted its position in shares of ASE Technology by 3.0% in the first quarter. Federated Hermes Inc. now owns 104,136 shares of the semiconductor company’s stock valued at $912,000 after acquiring an additional 3,038 shares during the period. 6.80% of the stock is currently 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.