Today, Advanced Semiconductor Engineering (ASX) Upgrade to “Hold” by The Zacks Investment Research

Today, Advanced Semiconductor Engineering (ASX) Upgrade to “Hold” by 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 research report issued 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. “

Other equities research analysts have also issued research reports about the company. Goldman Sachs Group Inc. lowered 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Advanced Semiconductor Engineering presently has an average rating of “Buy” and a consensus price target of $6.75.

Shares of Advanced Semiconductor Engineering (NYSE:ASX) traded down 1.47% during midday trading on Friday, hitting $5.38. The stock had a trading volume of 335,078 shares. The stock has a market cap of $8.25 billion, a P/E ratio of 15.59 and a beta of 0.62. The stock has a 50-day moving average price of $5.76 and a 200-day moving average price of $5.68. Advanced Semiconductor Engineering has a 12-month low of $4.39 and a 12-month high of $6.23.

Large investors have recently bought and sold shares of the stock. NINE MASTS CAPITAL Ltd raised its stake in Advanced Semiconductor Engineering by 1,286.1% in the second quarter. NINE MASTS CAPITAL Ltd now owns 2,849,612 shares of the company’s stock worth $16,187,000 after buying an additional 2,644,027 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Advanced Semiconductor Engineering by 8.7% in the second quarter. Fisher Asset Management LLC now owns 28,801,597 shares of the company’s stock worth $159,273,000 after buying an additional 2,306,612 shares in the last quarter. FMR LLC raised its position in shares of Advanced Semiconductor Engineering by 27.6% in the second quarter. FMR LLC now owns 7,638,475 shares of the company’s stock worth $42,623,000 after buying an additional 1,651,866 shares in the last quarter. Jane Street Group LLC raised its position in shares of Advanced Semiconductor Engineering by 1,247.6% in the second quarter. Jane Street Group LLC now owns 1,168,873 shares of the company’s stock worth $6,522,000 after buying an additional 1,082,134 shares in the last quarter. Finally, Guggenheim Capital LLC raised its position in shares of Advanced Semiconductor Engineering by 307.6% in the second quarter. Guggenheim Capital LLC now owns 1,280,786 shares of the company’s stock worth $7,146,000 after buying an additional 966,574 shares in the last quarter. 7.28% of the stock is currently owned by hedge funds and other institutional investors.

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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