ASE Technology (ASX) Trading Down 6.7%

ASE Technology Holding Co Ltd (NYSE:ASX) shares traded down 6.7% during mid-day trading on Thursday . The company traded as low as $4.02 and last traded at $4.04. 2,783,238 shares were traded during trading, an increase of 298% from the average session volume of 698,586 shares. The stock had previously closed at $4.33.

A number of research analysts have recently issued reports on the company. ValuEngine cut ASE Technology from a “hold” rating to a “sell” rating in a research note on Saturday, October 6th. CLSA cut ASE Technology from an “outperform” rating to an “underperform” rating in a research note on Monday, October 8th. Finally, JPMorgan Chase & Co. cut ASE Technology from an “overweight” rating to a “neutral” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. ASE Technology presently has a consensus rating of “Hold” and an average price target of $8.25.

The company has a debt-to-equity ratio of 0.63, a current ratio of 1.11 and a quick ratio of 0.88. The company has a market capitalization of $10.55 billion, a PE ratio of 12.09 and a beta of 0.77.

ASE Technology (NYSE:ASX) last posted its earnings results on Friday, July 27th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter. The company had revenue of $2.84 billion for the quarter. ASE Technology had a return on equity of 12.63% and a net margin of 8.50%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. grew its stake in shares of ASE Technology by 18.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 77,285 shares of the semiconductor company’s stock worth $356,000 after purchasing an additional 11,990 shares during the last quarter. US Bancorp DE purchased a new stake in ASE Technology in the second quarter worth about $107,000. HPM Partners LLC purchased a new stake in ASE Technology in the second quarter worth about $157,000. Commonwealth Bank of Australia purchased a new stake in ASE Technology in the second quarter worth about $215,000. Finally, Signaturefd LLC purchased a new stake in ASE Technology in the second quarter worth about $119,000. 5.45% of the stock is currently owned by institutional investors.

ASE Technology Company Profile (NYSE:ASX)

ASE Technology Holding Co, Ltd. provides a range of semiconductors packaging and testing, and electronic manufacturing services (EMS) in the United States, Taiwan, Asia, Europe, and internationally. The company offers packaging services, including flip-chip ball grid array (BGA), flip-chip chip scale package (fcCSP), advanced chip scale packages (aCSP), quad flat packages, thin quad flat packages, bump chip carrier and quad flat no-lead (QFN) packages, advanced QFN packages, plastic BGAs, high-band package on package, and 3D chip packages; stacked die solutions in various package types; and copper wire and silver bonding solutions, as well as module-based solutions.

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