ASE Technology (NYSE:ASX) Upgraded by Wall Street Zen to “Buy” Rating

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

A number of other analysts have also commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, January 21st. Zacks Research downgraded ASE Technology from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold”.

ASE Technology Trading Up 2.4%

NYSE:ASX opened at $21.49 on Friday. The company’s 50 day moving average price is $20.99 and its 200-day moving average price is $16.10. ASE Technology has a 52 week low of $6.94 and a 52 week high of $25.28. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 0.57. The stock has a market cap of $47.66 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 0.89 and a beta of 1.41.

ASE Technology (NYSE:ASX) last announced its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.09). The firm had revenue of $5.67 billion for the quarter, compared to the consensus estimate of $5.47 billion. ASE Technology had a net margin of 6.31% and a return on equity of 12.00%. On average, equities research analysts forecast that ASE Technology will post 0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ASE Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. grew its holdings in shares of ASE Technology by 20.9% in the second quarter. American Century Companies Inc. now owns 3,180,215 shares of the semiconductor company’s stock worth $32,852,000 after acquiring an additional 549,025 shares during the period. Ninety One North America Inc. increased its position in ASE Technology by 82.3% during the third quarter. Ninety One North America Inc. now owns 496,795 shares of the semiconductor company’s stock valued at $5,509,000 after acquiring an additional 224,267 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in ASE Technology by 55.6% in the third quarter. JPMorgan Chase & Co. now owns 2,958,901 shares of the semiconductor company’s stock valued at $32,814,000 after acquiring an additional 1,057,046 shares during the period. Cullen Capital Management LLC boosted its position in ASE Technology by 24.1% in the second quarter. Cullen Capital Management LLC now owns 5,580,176 shares of the semiconductor company’s stock worth $57,643,000 after purchasing an additional 1,082,941 shares during the last quarter. Finally, West Family Investments Inc. boosted its position in ASE Technology by 71.7% in the second quarter. West Family Investments Inc. now owns 47,649 shares of the semiconductor company’s stock worth $492,000 after purchasing an additional 19,902 shares during the last quarter. Hedge funds and other institutional investors own 6.80% of the company’s stock.

About ASE Technology

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.