Zacks Investment Research downgraded shares of ASE Group (NYSE:ASX) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.
According to Zacks, “Advanced Semiconductor Engineering, Inc. is an independent provider of semiconductor packaging services and semiconductor testing services, including front-end engineering testing, wafer probing and final testing services. The company offers packaging and testing services separately and on a turnkey basis. Turnkey services consist of integrated packaging, testing and direct shipment of semiconductors to end users designated by customers. The company is able to expand the traditional scope of turnkey services to offer total semiconductor manufacturing services to customers. “
Shares of NYSE ASX opened at $7.05 on Tuesday. ASE Group has a 1-year low of $5.86 and a 1-year high of $7.52. The stock has a market capitalization of $11,764.98, a price-to-earnings ratio of 16.16, a P/E/G ratio of 1.92 and a beta of 0.73. The company has a quick ratio of 1.11, a current ratio of 1.34 and a debt-to-equity ratio of 0.22.
ASE Group (NYSE:ASX) last announced its earnings results on Thursday, February 1st. The semiconductor company reported $0.12 earnings per share for the quarter. ASE Group had a net margin of 7.95% and a return on equity of 12.10%. The company had revenue of $2.73 billion during the quarter. equities research analysts anticipate that ASE Group will post 0.47 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in ASX. Schafer Cullen Capital Management Inc. raised its stake in shares of ASE Group by 40.5% in the fourth quarter. Schafer Cullen Capital Management Inc. now owns 14,061,988 shares of the semiconductor company’s stock worth $91,122,000 after acquiring an additional 4,055,813 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of ASE Group by 2.8% in the fourth quarter. Fisher Asset Management LLC now owns 31,437,341 shares of the semiconductor company’s stock worth $203,714,000 after acquiring an additional 864,217 shares during the last quarter. BlackRock Inc. raised its stake in shares of ASE Group by 493.6% in the fourth quarter. BlackRock Inc. now owns 617,770 shares of the semiconductor company’s stock worth $4,004,000 after acquiring an additional 513,700 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of ASE Group by 18.0% in the fourth quarter. Wells Fargo & Company MN now owns 2,816,589 shares of the semiconductor company’s stock worth $18,251,000 after acquiring an additional 430,103 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of ASE Group by 328.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 534,773 shares of the semiconductor company’s stock worth $3,304,000 after buying an additional 409,885 shares during the period. 6.33% of the stock is owned by institutional investors.
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About ASE Group
Advanced Semiconductor Engineering, Inc provides a range of semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, Asia, Europe, and internationally. It operates through Packaging, Testing, and Electronic Manufacturing Services segments. The company offers packaging services, including various packages, such as flip-chip ball grid array (BGA), flip-chip chip scale package, advanced chip scale packages, quad flat packages, 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 package types; and copper wire and silver bonding solutions.
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