ASE Technology (NYSE:ASX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ASE Technology (NYSE:ASX) from a hold rating to a buy rating in a report released on Sunday morning.

Several other research analysts have also recently commented on the stock. Zacks Research cut shares of ASE Technology from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of ASE Technology in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold”.

ASE Technology Trading Up 1.4%

Shares of ASE Technology stock opened at $21.82 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.28. The firm has a 50-day moving average of $21.16 and a 200-day moving average of $16.27. ASE Technology has a 52-week low of $6.94 and a 52-week high of $25.28. The stock has a market cap of $48.41 billion, a PE ratio of 37.63, a PEG ratio of 0.89 and a beta of 1.42.

ASE Technology (NYSE:ASX) last released its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.09). ASE Technology had a return on equity of 12.00% and a net margin of 6.31%.The business had revenue of $5.67 billion for the quarter, compared to the consensus estimate of $5.47 billion. As a group, sell-side analysts forecast that ASE Technology will post 0.76 EPS for the current year.

Institutional Trading of ASE Technology

Hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC purchased a new stake in shares of ASE Technology in the fourth quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in ASE Technology by 180,900.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,810 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 1,809 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of ASE Technology by 1,704.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,653 shares of the semiconductor company’s stock worth $30,000 after buying an additional 2,506 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in ASE Technology in the fourth quarter valued at about $32,000. Finally, UMB Bank n.a. bought a new position in shares of ASE Technology during the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 6.80% of the company’s stock.

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.