Trading Report: Today, Advanced Semiconductor Engineering (ASX) Rating Increased to Hold at The Zacks Investment Research

Today, Advanced Semiconductor Engineering (ASX) Rating Increased to Hold at The Zacks Investment Research

Advanced Semiconductor Engineering (NYSE:ASX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

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. “

ASX has been the topic of several other research reports. Goldman Sachs Group Inc. downgraded Advanced Semiconductor Engineering from a “buy” rating to a “neutral” rating in a research note on Friday. Jefferies Group raised Advanced Semiconductor Engineering to a “neutral” rating in a research note on Monday, August 1st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $6.75.

Advanced Semiconductor Engineering (NYSE:ASX) traded down 1.47% during mid-day trading on Friday, reaching $5.38. The company had a trading volume of 335,078 shares. The firm has a 50-day moving average of $5.76 and a 200 day moving average of $5.68. The company has a market capitalization of $8.25 billion, a PE ratio of 15.59 and a beta of 0.62. Advanced Semiconductor Engineering has a 1-year low of $4.39 and a 1-year high of $6.23.

Several hedge funds have recently added to or reduced their stakes in ASX. EQIS Capital Management boosted its stake in Advanced Semiconductor Engineering by 681.8% in the fourth quarter. EQIS Capital Management now owns 77,775 shares of the company’s stock valued at $441,000 after buying an additional 67,827 shares in the last quarter. Fisher Asset Management boosted its stake in Advanced Semiconductor Engineering by 5.2% in the fourth quarter. Fisher Asset Management now owns 17,438,216 shares of the company’s stock valued at $98,875,000 after buying an additional 867,965 shares in the last quarter. DNB Asset Management boosted its stake in Advanced Semiconductor Engineering by 2.5% in the fourth quarter. DNB Asset Management now owns 415,516 shares of the company’s stock valued at $2,355,976 after buying an additional 10,000 shares in the last quarter. Segantii Capital Management Ltd boosted its stake in Advanced Semiconductor Engineering by 26.1% in the fourth quarter. Segantii Capital Management Ltd now owns 289,536 shares of the company’s stock valued at $1,680,000 after buying an additional 59,988 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Advanced Semiconductor Engineering by 4.4% in the fourth quarter. Sei Investments Co. now owns 3,704,485 shares of the company’s stock valued at $21,004,000 after buying an additional 157,441 shares in the last quarter. Hedge funds and other institutional investors own 7.28% of the company’s stock.

About Advanced Semiconductor Engineering

Advanced Semiconductor Engineering, Inc is a provider of semiconductor packaging and testing services. The Company offers a range of semiconductors packaging, testing and electronic manufacturing services (EMS). The Company’s segments include Packaging, Testing, EMS and Others. The Company provides services in packaging bare semiconductors into finished semiconductors with a range of electrical and thermal characteristics, as well as testing services, including front-end engineering testing, wafer probing and final testing services.

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