ASE Technology (NYSE:ASX) Upgraded at Zacks Research

Zacks Research upgraded shares of ASE Technology (NYSE:ASX) from a strong sell rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

A number of other research analysts have also recently weighed in on ASX. Weiss Ratings reiterated a “hold (c)” rating on shares of ASE Technology in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of ASE Technology from a “hold” rating to a “buy” rating in a research note on Sunday. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ASE Technology presently has an average rating of “Hold”.

ASE Technology Stock Up 8.7%

ASX opened at $24.12 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 0.57. The stock has a market cap of $53.49 billion, a price-to-earnings ratio of 41.58, a PEG ratio of 0.92 and a beta of 1.46. ASE Technology has a twelve month low of $6.94 and a twelve month high of $25.28. The company’s 50-day moving average price is $22.14 and its two-hundred day moving average price is $17.46.

ASE Technology (NYSE:ASX) last released its earnings results on Thursday, February 5th. The semiconductor company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.47 billion. ASE Technology had a net margin of 6.31% and a return on equity of 12.00%. As a group, equities analysts expect that ASE Technology will post 0.76 earnings per share for the current year.

Institutional Trading of ASE Technology

Institutional investors have recently modified their holdings of the business. Ninety One North America Inc. increased its holdings in ASE Technology by 82.3% during the 3rd quarter. Ninety One North America Inc. now owns 496,795 shares of the semiconductor company’s stock worth $5,509,000 after acquiring an additional 224,267 shares during the period. American Century Companies Inc. increased its holdings in ASE Technology by 15.6% during the 3rd quarter. American Century Companies Inc. now owns 3,674,784 shares of the semiconductor company’s stock worth $40,753,000 after acquiring an additional 494,569 shares during the period. JPMorgan Chase & Co. increased its holdings in ASE Technology by 55.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,958,901 shares of the semiconductor company’s stock worth $32,814,000 after acquiring an additional 1,057,046 shares during the period. Cullen Capital Management LLC increased its holdings in ASE Technology by 24.1% during the 2nd quarter. Cullen Capital Management LLC now owns 5,580,176 shares of the semiconductor company’s stock worth $57,643,000 after acquiring an additional 1,082,941 shares during the period. Finally, Capula Management Ltd increased its holdings in ASE Technology by 200.4% during the 3rd quarter. Capula Management Ltd now owns 650,494 shares of the semiconductor company’s stock worth $7,214,000 after acquiring an additional 433,965 shares during the period. 6.80% of the stock is currently owned by hedge funds and other institutional investors.

About ASE Technology

ASE Technology Holding Co, Ltd. (NYSE: ASX), commonly referred to as ASE, is a Taiwan-based provider of semiconductor assembly and testing services. The company focuses on back-end semiconductor manufacturing and related services that prepare integrated circuits and other semiconductor devices for final use. Its core activities include advanced IC packaging, final testing, wafer probing, and related engineering and supply-chain support for semiconductor customers.

ASE offers a range of products and technical capabilities designed to meet increasingly complex packaging and system-in-package requirements.