ASE Technology (NYSE:ASX) Raised to “Strong-Buy” at Zacks Research

ASE Technology (NYSE:ASX) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other research firms also recently issued reports on ASX. Wall Street Zen raised shares of ASE Technology from a “hold” rating to a “buy” rating in a report on Sunday, April 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ASE Technology in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy”.

ASE Technology Stock Down 1.6%

ASX traded down $0.56 during trading on Tuesday, hitting $33.60. 786,572 shares of the company’s stock were exchanged, compared to its average volume of 7,714,680. ASE Technology has a fifty-two week low of $9.12 and a fifty-two week high of $34.22. The stock has a market cap of $74.71 billion, a P/E ratio of 49.48, a PEG ratio of 0.67 and a beta of 1.68. The business’s 50 day moving average is $24.81 and its two-hundred day moving average is $19.76. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 0.53.

ASE Technology (NYSE:ASX) last issued its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.32 billion. ASE Technology had a net margin of 7.03% and a return on equity of 13.48%. As a group, equities analysts expect that ASE Technology will post 1.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC purchased a new position in ASE Technology in the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd lifted its position in shares of ASE Technology by 180,900.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,810 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 1,809 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of ASE Technology by 1,704.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,653 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 2,506 shares during the period. Bessemer Group Inc. increased its holdings in ASE Technology by 135.4% in the 1st quarter. Bessemer Group Inc. now owns 1,438 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 827 shares during the last quarter. Finally, Eagle Bay Advisors LLC bought a new stake in ASE Technology in the 4th quarter valued at about $32,000. 6.80% of the stock is owned by institutional investors.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. (NYSE: ASX), commonly referred to as ASE, is a Taiwan-based provider of semiconductor assembly and testing services. The company focuses on back-end semiconductor manufacturing and related services that prepare integrated circuits and other semiconductor devices for final use. Its core activities include advanced IC packaging, final testing, wafer probing, and related engineering and supply-chain support for semiconductor customers.

ASE offers a range of products and technical capabilities designed to meet increasingly complex packaging and system-in-package requirements.