ASE Technology (NYSE:ASX) Earns Hold (C) Rating from Weiss Ratings

Key Points

• ASE Technology has received a "hold (c)" rating from Weiss Ratings, indicating analysts' cautious stance on the stock.
• Shares of ASE Technology reached $13.00 during trading, with a market cap of $28.69 billion and a PE ratio of 27.65.
• The company reported a quarterly earnings of $0.11 EPS, missing estimates and generating $5.07 billion in revenue, falling short of analyst expectations.

ASE Technology (NYSE:ASX - Get Free Report)'s stock had its "hold (c)" rating restated by analysts at Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

ASE Technology Stock Performance

Shares of NYSE:ASX traded up $0.18 during mid-day trading on Friday, reaching $13.00. 6,659,829 shares of the company traded hands, compared to its average volume of 10,119,521. The company's 50 day moving average price is $11.10 and its 200-day moving average price is $10.16. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.79. ASE Technology has a 52 week low of $6.94 and a 52 week high of $13.10. The firm has a market cap of $28.69 billion, a PE ratio of 27.65, a PEG ratio of 0.70 and a beta of 1.37.

ASE Technology (NYSE:ASX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.03). ASE Technology had a return on equity of 10.33% and a net margin of 5.48%.The business had revenue of $5.07 billion during the quarter, compared to analysts' expectations of $150.44 billion. On average, equities analysts expect that ASE Technology will post 0.76 EPS for the current fiscal year.

Institutional Trading of ASE Technology

Several hedge funds have recently modified their holdings of ASX. Acadian Asset Management LLC raised its holdings in shares of ASE Technology by 35.0% during the 1st quarter. Acadian Asset Management LLC now owns 10,973,038 shares of the semiconductor company's stock worth $96,110,000 after acquiring an additional 2,842,631 shares in the last quarter. Rafferty Asset Management LLC raised its holdings in shares of ASE Technology by 50.9% during the 2nd quarter. Rafferty Asset Management LLC now owns 7,392,190 shares of the semiconductor company's stock worth $76,361,000 after acquiring an additional 2,491,918 shares in the last quarter. Millennium Management LLC raised its holdings in shares of ASE Technology by 111.1% during the 1st quarter. Millennium Management LLC now owns 3,836,018 shares of the semiconductor company's stock worth $33,604,000 after acquiring an additional 2,018,815 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of ASE Technology by 18.8% during the 2nd quarter. Bank of America Corp DE now owns 8,815,184 shares of the semiconductor company's stock worth $91,061,000 after acquiring an additional 1,397,206 shares in the last quarter. Finally, Jump Financial LLC raised its holdings in shares of ASE Technology by 897.5% during the 2nd quarter. Jump Financial LLC now owns 1,366,018 shares of the semiconductor company's stock worth $14,111,000 after acquiring an additional 1,229,068 shares in the last quarter. 6.80% of the stock is owned by hedge funds and other institutional investors.

ASE Technology Company Profile

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; commercial complex, after-sales, and support services; manages parking lot services; processes and sells computer and communication peripherals, electronic components, telecommunications equipment, and motherboards; and imports and exports goods and technology.

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