ASE Technology (NYSE:ASX) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of ASE Technology (NYSE:ASX – Get Rating) in a research note published on Thursday. The firm issued a buy rating on the semiconductor company’s stock.

Separately, China Renaissance downgraded shares of ASE Technology from a buy rating to a hold rating in a research report on Thursday, February 9th.

ASE Technology Stock Down 2.7 %

Shares of ASE Technology stock opened at $7.46 on Thursday. The company has a market cap of $16.29 billion, a P/E ratio of 7.85 and a beta of 1.19. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.93 and a current ratio of 1.35. ASE Technology has a one year low of $4.45 and a one year high of $7.70. The firm has a fifty day moving average of $7.29 and a two-hundred day moving average of $6.32.

Hedge Funds Weigh In On ASE Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC grew its stake in shares of ASE Technology by 5.9% during the 4th quarter. Lazard Asset Management LLC now owns 18,772,536 shares of the semiconductor company’s stock worth $117,702,000 after purchasing an additional 1,045,060 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of ASE Technology by 16.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 14,383,989 shares of the semiconductor company’s stock worth $90,188,000 after purchasing an additional 2,075,489 shares during the period. UBS Group AG grew its stake in shares of ASE Technology by 69.7% during the 4th quarter. UBS Group AG now owns 10,743,175 shares of the semiconductor company’s stock worth $67,360,000 after purchasing an additional 4,412,205 shares during the period. BlackRock Inc. grew its stake in shares of ASE Technology by 8.1% during the 1st quarter. BlackRock Inc. now owns 8,084,915 shares of the semiconductor company’s stock worth $57,322,000 after purchasing an additional 606,628 shares during the period. Finally, Schroder Investment Management Group grew its stake in shares of ASE Technology by 16.8% during the 4th quarter. Schroder Investment Management Group now owns 8,066,000 shares of the semiconductor company’s stock worth $50,574,000 after purchasing an additional 1,161,943 shares during the period. 7.03% of the stock is owned by institutional investors and hedge funds.

ASE Technology Company Profile

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ASE Technology Holding Co, Ltd. engages in the provision of semiconductor manufacturing services. It develops and offers complete turnkey solutions in IC (Integrated Circuit) packaging, design and production of interconnect materials, front-end engineering testing, wafer probing and final testing, as well as electronic manufacturing services.