ASE Technology (NYSE:ASX) Upgraded to Buy at Nomura

Nomura upgraded shares of ASE Technology (NYSE:ASX) from a neutral rating to a buy rating in a report issued on Thursday morning, MarketBeat Ratings reports.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

ASE Technology Price Performance

Shares of NYSE ASX opened at $15.04 on Thursday. ASE Technology has a twelve month low of $6.94 and a twelve month high of $15.32. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $33.19 billion, a price-to-earnings ratio of 31.99, a price-to-earnings-growth ratio of 0.81 and a beta of 1.37. The business has a 50 day simple moving average of $11.50 and a 200-day simple moving average of $10.38.

ASE Technology (NYSE:ASX) last issued its quarterly earnings results on Thursday, October 30th. The semiconductor company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. ASE Technology had a return on equity of 10.33% and a net margin of 5.48%. As a group, equities research analysts expect that ASE Technology will post 0.76 earnings per share for the current year.

Institutional Trading of ASE Technology

Large investors have recently modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in shares of ASE Technology by 154.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,746 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 1,666 shares during the period. Golden State Wealth Management LLC grew its stake in shares of ASE Technology by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 3,590 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 1,795 shares in the last quarter. WealthCollab LLC grew its stake in shares of ASE Technology by 55.2% in the second quarter. WealthCollab LLC now owns 4,850 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 1,726 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of ASE Technology by 537.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,928 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 4,155 shares in the last quarter. Finally, MAI Capital Management grew its stake in shares of ASE Technology by 2,409.6% in the second quarter. MAI Capital Management now owns 4,969 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 4,771 shares in the last quarter. Institutional investors and hedge funds own 6.80% of the company’s stock.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd., together with its subsidiaries, provides semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, Asia, Europe, and internationally. It develops, constructs, sells, leases, and manages real estate properties; produces substrates; offers information software, equipment leasing, investment advisory, and warehousing management services; commercial complex, after-sales, and support services; manages parking lot services; processes and sells computer and communication peripherals, electronic components, telecommunications equipment, and motherboards; and imports and exports goods and technology.