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

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

ASE Technology Price Performance

Shares of ASX stock opened at $5.55 on Tuesday. The firm has a market cap of $12.10 billion, a P/E ratio of 4.66, a P/E/G ratio of 0.27 and a beta of 1.12. ASE Technology has a fifty-two week low of $4.88 and a fifty-two week high of $8.65. The business’s 50 day moving average price is $5.77 and its 200-day moving average price is $6.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.83 and a current ratio of 1.18.

Institutional Investors Weigh In On ASE Technology

Large investors have recently made changes to their positions in the business. Lazard Asset Management LLC boosted its position in shares of ASE Technology by 15.9% during the first quarter. Lazard Asset Management LLC now owns 16,191,596 shares of the semiconductor company’s stock valued at $114,796,000 after purchasing an additional 2,225,409 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of ASE Technology by 179.4% during the fourth quarter. Schroder Investment Management Group now owns 10,785,001 shares of the semiconductor company’s stock valued at $42,115,000 after purchasing an additional 6,924,641 shares in the last quarter. Bank of America Corp DE boosted its position in shares of ASE Technology by 8.8% during the first quarter. Bank of America Corp DE now owns 9,026,713 shares of the semiconductor company’s stock valued at $63,999,000 after purchasing an additional 732,662 shares in the last quarter. BlackRock Inc. boosted its position in shares of ASE Technology by 8.1% during the first quarter. BlackRock Inc. now owns 8,084,915 shares of the semiconductor company’s stock valued at $57,322,000 after purchasing an additional 606,628 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of ASE Technology by 0.5% during the first quarter. UBS Group AG now owns 6,715,817 shares of the semiconductor company’s stock valued at $47,615,000 after purchasing an additional 34,421 shares in the last quarter. 6.57% of the stock is currently owned by institutional investors.

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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