ASE Technology (NYSE:ASX) Downgraded by StockNews.com

StockNews.com cut shares of ASE Technology (NYSE:ASXGet Rating) from a buy rating to a hold rating in a report issued on Tuesday.

ASE Technology Trading Up 0.6 %

Shares of NYSE ASX opened at $6.49 on Tuesday. The stock has a market cap of $14.15 billion, a price-to-earnings ratio of 5.32, a PEG ratio of 0.33 and a beta of 1.11. The business has a 50 day simple moving average of $5.43 and a 200 day simple moving average of $5.85. ASE Technology has a 52 week low of $4.45 and a 52 week high of $8.15. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.85 and a current ratio of 1.22.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ASX. EverSource Wealth Advisors LLC raised its stake in shares of ASE Technology by 299.4% in the first quarter. EverSource Wealth Advisors LLC now owns 4,992 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 3,742 shares in the last quarter. CWM LLC grew its position in ASE Technology by 116.8% in the second quarter. CWM LLC now owns 5,007 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 2,697 shares during the period. Penserra Capital Management LLC bought a new stake in ASE Technology in the third quarter valued at $34,000. Barings LLC bought a new stake in ASE Technology in the first quarter valued at $71,000. Finally, Ballentine Partners LLC bought a new stake in ASE Technology in the third quarter valued at $51,000. 6.57% of the stock is currently owned by institutional investors and hedge funds.

ASE Technology Company Profile

(Get Rating)

ASE Technology Holding Co, Ltd. provides a range of semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, rest of Asia, Europe, and internationally. It offers packaging services, including flip chip ball grid array (BGA) and chip scale package (CSP), advanced chip scale packages, quad flat packages, low profile and thin quad flat packages, bump chip carrier and quad flat no-lead (QFN) packages, advanced QFN packages, plastic BGAs, and 3D chip packages; stacked die solutions in various packages; and copper and silver wire bonding solutions.

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