ASE Technology (NYSE:ASX) Downgraded to “Hold” at StockNews.com
ASE Technology (NYSE:ASX - Get Rating) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Tuesday.
ASE Technology Stock Performance
NYSE:ASX opened at $6.27 on Tuesday. The stock's 50-day simple moving average is $5.37 and its 200 day simple moving average is $5.84. ASE Technology has a twelve month low of $4.45 and a twelve month high of $8.15. The firm has a market capitalization of $13.67 billion, a PE ratio of 5.14, a price-to-earnings-growth ratio of 0.32 and a beta of 1.11. The company has a quick ratio of 0.85, a current ratio of 1.22 and a debt-to-equity ratio of 0.42.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Truist Financial Corp raised its holdings in shares of ASE Technology by 65.8% during the 1st quarter. Truist Financial Corp now owns 54,875 shares of the semiconductor company's stock valued at $389,000 after buying an additional 21,768 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of ASE Technology by 11.5% in the first quarter. Park Avenue Securities LLC now owns 64,068 shares of the semiconductor company's stock worth $454,000 after purchasing an additional 6,593 shares during the last quarter. Envestnet Asset Management Inc. increased its position in ASE Technology by 5.1% during the first quarter. Envestnet Asset Management Inc. now owns 1,642,046 shares of the semiconductor company's stock valued at $11,642,000 after acquiring an additional 79,463 shares during the last quarter. Advisor Group Holdings Inc. grew its holdings in ASE Technology by 18.5% during the first quarter. Advisor Group Holdings Inc. now owns 356,596 shares of the semiconductor company's stock valued at $2,522,000 after purchasing an additional 55,649 shares during the period. Finally, Balentine LLC boosted its stake in shares of ASE Technology by 107.6% in the first quarter. Balentine LLC now owns 56,646 shares of the semiconductor company's stock worth $402,000 after acquiring an additional 29,357 shares during the period. Hedge funds and other institutional investors own 6.57% of the company's stock.
About ASE Technology
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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