ASE Technology (NYSE:ASX) Shares Down 2.3%

ASE Technology Holding Co., Ltd. (NYSE:ASX) shares were down 2.3% during trading on Monday . The company traded as low as $7.67 and last traded at $7.67. Approximately 254,691 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 5,452,555 shares. The stock had previously closed at $7.85.

Analyst Ratings Changes

A number of research analysts have recently commented on ASX shares. StockNews.com downgraded ASE Technology from a “buy” rating to a “hold” rating in a report on Saturday, September 2nd. HSBC downgraded ASE Technology from a “buy” rating to a “hold” rating and set a $6.47 price objective on the stock. in a report on Wednesday, June 28th. Finally, The Goldman Sachs Group upgraded ASE Technology from a “neutral” rating to a “buy” rating and increased their price objective for the company from $6.60 to $9.20 in a report on Friday, July 28th.

ASE Technology Stock Down 1.9 %

The business has a 50 day moving average of $7.84 and a 200-day moving average of $7.71. The stock has a market cap of $16.81 billion, a PE ratio of 10.97 and a beta of 1.21. The company has a current ratio of 1.20, a quick ratio of 0.86 and a debt-to-equity ratio of 0.42.

ASE Technology (NYSE:ASX) last posted its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.12 earnings per share for the quarter. ASE Technology had a return on equity of 15.41% and a net margin of 7.38%. The company had revenue of $4.44 billion during the quarter. Equities research analysts predict that ASE Technology Holding Co., Ltd. will post 0.51 EPS for the current fiscal year.

Institutional Trading of ASE Technology

Hedge funds have recently modified their holdings of the business. Belpointe Asset Management LLC acquired a new stake in shares of ASE Technology in the 4th quarter valued at approximately $36,000. Russell Investments Group Ltd. lifted its holdings in shares of ASE Technology by 212.7% in the 1st quarter. Russell Investments Group Ltd. now owns 7,661 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 5,211 shares during the period. Employees Retirement System of Texas purchased a new position in ASE Technology in the 4th quarter valued at approximately $53,000. Global Retirement Partners LLC increased its stake in ASE Technology by 43.4% in the 1st quarter. Global Retirement Partners LLC now owns 8,514 shares of the semiconductor company’s stock valued at $58,000 after purchasing an additional 2,575 shares in the last quarter. Finally, First Affirmative Financial Network purchased a new position in ASE Technology in the 1st quarter valued at approximately $80,000. 7.62% of the stock is owned by institutional investors and hedge funds.

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; processes and sells computer and communication peripherals, electronic components, telecommunications equipment, and motherboards; and imports and exports goods and technology.