ASE Technology (NYSE:ASX) Upgraded to “Buy” at Wall Street Zen

ASE Technology (NYSE:ASX) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.

ASX has been the subject of several other research reports. Zacks Research lowered shares of ASE Technology from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Weiss Ratings reissued a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold”.

ASE Technology Stock Performance

Shares of ASX opened at $21.49 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.28 and a quick ratio of 1.00. ASE Technology has a one year low of $6.94 and a one year high of $25.28. The firm has a market capitalization of $47.66 billion, a P/E ratio of 37.04, a PEG ratio of 0.89 and a beta of 1.42. The business has a fifty day moving average of $20.99 and a 200 day moving average of $16.06.

ASE Technology (NYSE:ASX) last posted its earnings results on Thursday, February 5th. The semiconductor company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.09). The firm had revenue of $5.67 billion during 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%. As a group, sell-side analysts anticipate that ASE Technology will post 0.76 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC boosted its stake in ASE Technology by 17.3% in the 4th quarter. Hsbc Holdings PLC now owns 1,873,784 shares of the semiconductor company’s stock worth $30,147,000 after purchasing an additional 276,926 shares during the period. Caitong International Asset Management Co. Ltd raised its position 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 buying an additional 1,809 shares during the last quarter. Groupama Asset Managment raised its position 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 buying an additional 1,346 shares during the last quarter. SG Trading Solutions LLC purchased a new position in shares of ASE Technology in the fourth quarter worth $453,000. Finally, Compound Planning Inc. lifted its holdings in shares of ASE Technology by 15.1% in the fourth quarter. Compound Planning Inc. now owns 42,975 shares of the semiconductor company’s stock worth $692,000 after buying an additional 5,648 shares in the last quarter. 6.80% of the stock is owned by hedge funds and other 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.