Zacks Investment Research downgraded shares of ASE Technology (NYSE:ASX) from a hold rating to a sell rating in a report published on Monday morning.
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. “
ASX has been the topic of a number of other research reports. ValuEngine raised ASE Technology from a sell rating to a hold rating in a research note on Monday, February 4th. Macquarie lowered ASE Technology from a neutral rating to an underperform rating in a research note on Wednesday, January 2nd. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. ASE Technology currently has a consensus rating of Sell and an average price target of $4.25.
ASE Technology (NYSE:ASX) last issued its quarterly earnings results on Wednesday, January 30th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.01). The firm had revenue of $3.70 billion during the quarter. ASE Technology had a return on equity of 11.81% and a net margin of 6.83%. Research analysts anticipate that ASE Technology will post 0.35 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LMR Partners LLP raised its position in ASE Technology by 235.4% in the fourth quarter. LMR Partners LLP now owns 6,277,234 shares of the semiconductor company’s stock valued at $23,959,000 after purchasing an additional 4,405,891 shares during the period. Mondrian Investment Partners LTD raised its position in ASE Technology by 27.6% in the fourth quarter. Mondrian Investment Partners LTD now owns 2,498,365 shares of the semiconductor company’s stock valued at $9,369,000 after purchasing an additional 540,000 shares during the period. FNY Investment Advisers LLC purchased a new stake in ASE Technology in the fourth quarter valued at $6,868,000. Vanguard Group Inc raised its position in ASE Technology by 2.5% in the third quarter. Vanguard Group Inc now owns 1,687,374 shares of the semiconductor company’s stock valued at $8,150,000 after purchasing an additional 41,421 shares during the period. Finally, Vanguard Group Inc. raised its position in ASE Technology by 2.5% in the third quarter. Vanguard Group Inc. now owns 1,687,374 shares of the semiconductor company’s stock valued at $8,150,000 after purchasing an additional 41,421 shares during the period. 5.47% 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 in assembly and test. The firm develops and offers turnkey solutions for the front-end engineering test, wafer probing and final test, as well IC packaging, materials and electronic manufactures services.
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