ASE Technology (NYSE:ASX) Lowered to Hold at StockNews.com

StockNews.com downgraded shares of ASE Technology (NYSE:ASX) from a buy rating to a hold rating in a report released on Friday.

ASE Technology Price Performance

NYSE ASX opened at $10.11 on Friday. ASE Technology has a twelve month low of $6.70 and a twelve month high of $11.68. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 1.16. The stock has a market capitalization of $22.15 billion, a PE ratio of 21.97, a P/E/G ratio of 0.52 and a beta of 1.25. The stock has a 50-day simple moving average of $10.61 and a 200 day simple moving average of $9.34.

ASE Technology (NYSE:ASX) last posted its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. The firm had revenue of $5.05 billion during the quarter. ASE Technology had a return on equity of 10.08% and a net margin of 5.41%. During the same period last year, the company earned $0.23 EPS. Research analysts anticipate that ASE Technology will post 0.67 EPS for the current year.

Hedge Funds Weigh In On ASE Technology

Several large investors have recently added to or reduced their stakes in the company. Bleakley Financial Group LLC raised its holdings in ASE Technology by 4.5% in the 4th quarter. Bleakley Financial Group LLC now owns 31,170 shares of the semiconductor company’s stock valued at $293,000 after acquiring an additional 1,353 shares in the last quarter. Simplicity Solutions LLC raised its holdings in ASE Technology by 4.5% in the 4th quarter. Simplicity Solutions LLC now owns 31,170 shares of the semiconductor company’s stock valued at $293,000 after acquiring an additional 1,353 shares in the last quarter. PDS Planning Inc raised its holdings in shares of ASE Technology by 4.1% in the 3rd quarter. PDS Planning Inc now owns 35,758 shares of the semiconductor company’s stock worth $269,000 after buying an additional 1,406 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of ASE Technology by 1.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 100,464 shares of the semiconductor company’s stock worth $755,000 after buying an additional 1,466 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in shares of ASE Technology by 5.5% in the 3rd quarter. Panagora Asset Management Inc. now owns 28,131 shares of the semiconductor company’s stock worth $212,000 after buying an additional 1,478 shares in the last quarter. Institutional investors and hedge funds own 6.80% of the company’s stock.

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.