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 research note issued on Sunday.

Several other equities research analysts have also commented on the stock. Zacks Research lowered shares of ASE Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ASE Technology presently has a consensus rating of “Hold”.

ASE Technology Stock Performance

ASX opened at $21.49 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. The company has a market cap of $47.66 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 0.89 and a beta of 1.42. The company’s fifty day moving average price is $20.99 and its two-hundred day moving average price is $16.06. ASE Technology has a 1-year low of $6.94 and a 1-year high of $25.28.

ASE Technology (NYSE:ASX) last announced its earnings results on Thursday, February 5th. The semiconductor company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.09). The business had revenue of $5.67 billion for the quarter, compared to the consensus estimate of $5.47 billion. ASE Technology had a net margin of 6.31% and a return on equity of 12.00%. On average, analysts expect that ASE Technology will post 0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On ASE Technology

Large investors have recently bought and sold shares of the business. Hsbc Holdings PLC boosted its holdings in shares of ASE Technology by 17.3% during the 4th quarter. Hsbc Holdings PLC now owns 1,873,784 shares of the semiconductor company’s stock valued at $30,147,000 after acquiring an additional 276,926 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of ASE Technology by 180,900.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,810 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 1,809 shares during the last quarter. Groupama Asset Managment raised its holdings in shares of ASE Technology by 1.7% during the fourth quarter. Groupama Asset Managment now owns 81,792 shares of the semiconductor company’s stock valued at $1,317,000 after purchasing an additional 1,346 shares during the last quarter. SG Trading Solutions LLC bought a new position in ASE Technology during the fourth quarter valued at approximately $453,000. Finally, Compound Planning Inc. lifted its position in ASE Technology by 15.1% during the fourth quarter. Compound Planning Inc. now owns 42,975 shares of the semiconductor company’s stock valued at $692,000 after purchasing an additional 5,648 shares during the period. 6.80% of the stock is currently owned by institutional investors.

ASE Technology Company Profile

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.