Zacks Investment Research Upgrades ASE Technology (NYSE:ASX) to “Hold”

ASE Technology (NYSE:ASXGet Rating) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Friday, reports.

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. “

Separately, upgraded ASE Technology from a “hold” rating to a “buy” rating in a research note on Saturday, April 23rd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to, the company presently has a consensus rating of “Hold” and a consensus target price of $8.18.

NYSE:ASX traded up $0.15 during mid-day trading on Friday, reaching $7.08. The stock had a trading volume of 4,784,500 shares, compared to its average volume of 6,519,829. The company has a market capitalization of $15.54 billion, a price-to-earnings ratio of 6.44, a price-to-earnings-growth ratio of 0.29 and a beta of 1.02. ASE Technology has a 1-year low of $6.18 and a 1-year high of $9.62. The stock’s 50 day simple moving average is $6.82 and its two-hundred day simple moving average is $7.22. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.22 and a quick ratio of 0.88.

ASE Technology (NYSE:ASXGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The semiconductor company reported $0.21 EPS for the quarter. ASE Technology had a return on equity of 26.31% and a net margin of 11.49%. The business had revenue of $5.16 billion during the quarter. Sell-side analysts anticipate that ASE Technology will post 0.87 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in shares of ASE Technology by 45.3% in the third quarter. Wellington Management Group LLP now owns 440,558 shares of the semiconductor company’s stock valued at $3,458,000 after buying an additional 137,287 shares in the last quarter. Fisher Asset Management LLC raised its stake in ASE Technology by 8.7% during the 4th quarter. Fisher Asset Management LLC now owns 26,238,665 shares of the semiconductor company’s stock valued at $204,924,000 after purchasing an additional 2,110,767 shares during the period. Cable Hill Partners LLC acquired a new stake in ASE Technology during the 4th quarter valued at $109,000. Dynamic Technology Lab Private Ltd acquired a new stake in ASE Technology during the 3rd quarter valued at $159,000. Finally, Schroder Investment Management Group raised its stake in ASE Technology by 179.4% during the 4th quarter. Schroder Investment Management Group now owns 10,785,001 shares of the semiconductor company’s stock valued at $42,115,000 after purchasing an additional 6,924,641 shares during the period. 6.48% of the stock is currently owned by institutional investors.

About ASE Technology (Get Rating)

ASE Technology Holding Co, Ltd. provides a range of semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, rest of Asia, Europe, and internationally. It offers packaging services, including flip chip ball grid array (BGA) and chip scale package (CSP), advanced chip scale packages, quad flat packages, low profile and thin quad flat packages, bump chip carrier and quad flat no-lead (QFN) packages, advanced QFN packages, plastic BGAs, and 3D chip packages; stacked die solutions in various packages; and copper and silver wire bonding solutions.

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