ASE Technology (NYSE:ASX) Upgraded at Nomura Securities

Nomura Securities upgraded shares of ASE Technology (NYSE:ASX) to a strong-buy rating in a research report report published on Thursday,Zacks.com reports.

ASX has been the topic of a number of other research reports. Wall Street Zen raised shares of ASE Technology from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, October 8th. Finally, Nomura raised shares of ASE Technology from a “neutral” rating to a “buy” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

ASE Technology Stock Performance

Shares of NYSE ASX opened at $16.03 on Thursday. 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 firm’s 50-day moving average price is $11.62 and its two-hundred day moving average price is $10.45. ASE Technology has a 52-week low of $6.94 and a 52-week high of $16.39. The stock has a market capitalization of $35.39 billion, a P/E ratio of 34.11, a P/E/G ratio of 0.81 and a beta of 1.37.

ASE Technology (NYSE:ASX) last issued its earnings results on Thursday, October 30th. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. ASE Technology had a net margin of 5.48% and a return on equity of 10.33%. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $162.64 billion. As a group, sell-side analysts forecast that ASE Technology will post 0.76 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in shares of ASE Technology by 94.6% during the first quarter. GAMMA Investing LLC now owns 18,525 shares of the semiconductor company’s stock valued at $162,000 after acquiring an additional 9,004 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of ASE Technology by 55.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 177,024 shares of the semiconductor company’s stock valued at $1,591,000 after acquiring an additional 63,011 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of ASE Technology by 11.8% during the first quarter. Janney Montgomery Scott LLC now owns 31,450 shares of the semiconductor company’s stock valued at $276,000 after acquiring an additional 3,319 shares during the period. OLD Mission Capital LLC acquired a new position in shares of ASE Technology during the first quarter valued at approximately $583,000. Finally, Cerity Partners LLC increased its stake in shares of ASE Technology by 107.3% during the first quarter. Cerity Partners LLC now owns 271,246 shares of the semiconductor company’s stock valued at $2,376,000 after acquiring an additional 140,413 shares during the period. 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.