ASE Technology (ASX) Rating Increased to Hold at Zacks Investment Research
ASE Technology (NYSE:ASX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “ASE Technology Holding Co Ltd. is a provider of semiconductor manufacturing services in assembly and testing. The Company develops and offers complete turnkey solutions covering front-end engineering testing, wafer probing and final testing as well as IC packaging, materials and electronic manufacturing services. It operates primarily in Taiwan, China, South Korea, Japan, Singapore, Malaysia, Mexico, United States and Europe. ASE Technology Holding Co Ltd, formerly known as ASE Industrial Holding Co., is based in Kaohsiung, Taiwan. “
A number of other analysts also recently commented on ASX. ValuEngine upgraded ASE Technology from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Macquarie downgraded ASE Technology from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 2nd. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. ASE Technology has a consensus rating of “Hold” and a consensus target price of $4.25.
ASE Technology (NYSE:ASX) last issued its quarterly earnings results on Wednesday, January 30th. The semiconductor company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.01). The business had revenue of $3.70 billion during the quarter. ASE Technology had a net margin of 6.83% and a return on equity of 11.81%. As a group, equities research analysts forecast that ASE Technology will post 0.35 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. acquired a new stake in ASE Technology in the 4th quarter valued at $35,000. Lindbrook Capital LLC acquired a new stake in ASE Technology in the 4th quarter valued at $36,000. Graves Light Private Wealth Management Inc. acquired a new stake in ASE Technology in the 4th quarter valued at $38,000. Ballentine Partners LLC acquired a new stake in ASE Technology in the 4th quarter valued at $42,000. Finally, Navellier & Associates Inc increased its holdings in ASE Technology by 90.1% in the 4th quarter. Navellier & Associates Inc now owns 13,704 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 6,496 shares in the last quarter. Institutional investors and hedge funds own 5.47% of the company’s stock.
About ASE Technology
ASE Technology Holding Co, Ltd. engages in the provision of semiconductor manufacturing services in assembly and test. The firm develops and offers turnkey solutions for the front-end engineering test, wafer probing and final test, as well IC packaging, materials and electronic manufactures services.
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