ASE Technology (NYSE:ASX) Stock Rating Upgraded by Wall Street Zen

ASE Technology (NYSE:ASX) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Several other research firms also recently commented on ASX. Nomura raised ASE Technology from a “neutral” rating to a “buy” rating in a report on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

ASE Technology Trading Up 6.6%

NYSE:ASX opened at $16.03 on Friday. ASE Technology has a twelve month low of $6.94 and a twelve month high of $16.39. The company has a quick ratio of 0.79, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average price of $11.62 and a two-hundred day moving average price of $10.43. The company has a market cap of $35.39 billion, a P/E ratio of 34.11, a price-to-earnings-growth ratio of 0.81 and a beta of 1.37.

ASE Technology (NYSE:ASX) last released its quarterly earnings results on Thursday, October 30th. The semiconductor company reported $0.16 earnings per share for the quarter, topping 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%.The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $162.64 billion. As a group, analysts expect that ASE Technology will post 0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On ASE Technology

Several hedge funds have recently added to or reduced their stakes in ASX. Farther Finance Advisors LLC lifted its holdings in ASE Technology by 154.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,746 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 1,666 shares during the last quarter. WealthCollab LLC lifted its holdings in ASE Technology by 55.2% during the 2nd quarter. WealthCollab LLC now owns 4,850 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 1,726 shares during the last quarter. MAI Capital Management lifted its holdings in ASE Technology by 2,409.6% during the 2nd quarter. MAI Capital Management now owns 4,969 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 4,771 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in ASE Technology by 537.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,928 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 4,155 shares during the last quarter. Finally, Headlands Technologies LLC lifted its holdings in ASE Technology by 549.8% during the 2nd quarter. Headlands Technologies LLC now owns 5,153 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 4,360 shares during the last quarter. Institutional investors and hedge funds own 6.80% of the company’s stock.

About ASE Technology

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.