ASE Technology (NYSE:ASX) Stock Rating Lowered by Zacks Investment Research
According to Zacks, “ASE Technology Holding Co Ltd. is a provider of semiconductor manufacturing services in assembly and testing. The Company develops and offers complete turnkey solutions covering front-end engineering testing, wafer probing and final testing as well as IC packaging, materials and electronic manufacturing services. It operates primarily in Taiwan, China, South Korea, Japan, Singapore, Malaysia, Mexico, United States and Europe. ASE Technology Holding Co Ltd, formerly known as ASE Industrial Holding Co., is based in Kaohsiung, Taiwan. “
Several other research firms also recently commented on ASX. The Goldman Sachs Group downgraded shares of ASE Technology from a buy rating to a neutral rating and lowered their target price for the stock from $13.30 to $8.10 in a report on Thursday, October 7th. KGI Securities downgraded shares of ASE Technology from an outperform rating to a neutral rating in a report on Thursday, October 28th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, ASE Technology presently has a consensus rating of Hold and a consensus price target of $8.30.
ASX opened at $8.10 on Tuesday. The firm has a market cap of $17.75 billion, a P/E ratio of 11.74, a PEG ratio of 0.37 and a beta of 1.03. ASE Technology has a 1-year low of $5.48 and a 1-year high of $9.62. The company has a 50 day simple moving average of $7.31 and a two-hundred day simple moving average of $8.13. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.35 and a quick ratio of 0.95.
ASE Technology (NYSE:ASX) last released its earnings results on Thursday, October 28th. The semiconductor company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. ASE Technology had a net margin of 7.91% and a return on equity of 17.49%. The firm had revenue of $5.41 billion for the quarter. Equities analysts anticipate that ASE Technology will post 0.76 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in ASX. Marshall Wace North America L.P. purchased a new stake in ASE Technology during the first quarter valued at $61,000. Ameriprise Financial Inc. purchased a new stake in ASE Technology during the first quarter valued at $168,000. Morgan Stanley raised its stake in ASE Technology by 1,417.7% during the first quarter. Morgan Stanley now owns 2,266,816 shares of the semiconductor company’s stock valued at $17,454,000 after purchasing an additional 2,117,459 shares in the last quarter. Moody National Bank Trust Division raised its stake in ASE Technology by 7.2% during the second quarter. Moody National Bank Trust Division now owns 17,051 shares of the semiconductor company’s stock valued at $137,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Kestra Private Wealth Services LLC raised its stake in ASE Technology by 45.5% during the second quarter. Kestra Private Wealth Services LLC now owns 17,958 shares of the semiconductor company’s stock valued at $145,000 after purchasing an additional 5,612 shares in the last quarter. 5.18% of the stock is currently owned by institutional investors.
About ASE Technology
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.
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