ASE Technology (NYSE:ASX) Rating Increased to Buy at Wall Street Zen

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

Other analysts also recently issued reports about the company. Weiss Ratings reiterated a “hold (c)” rating on shares of ASE Technology in a research note on Wednesday, January 21st. Zacks Research downgraded ASE Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

ASE Technology Price Performance

Shares of NYSE:ASX opened at $22.27 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. The company’s fifty day moving average price is $21.96 and its 200-day moving average price is $17.22. 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 $49.39 billion, a price-to-earnings ratio of 38.39, a PEG ratio of 0.92 and a beta of 1.46.

ASE Technology (NYSE:ASX) last posted its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. ASE Technology had a net margin of 6.31% and a return on equity of 12.00%. The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.47 billion. On average, equities research analysts anticipate that ASE Technology will post 0.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Rafferty Asset Management LLC increased its position in ASE Technology by 50.9% during the 2nd quarter. Rafferty Asset Management LLC now owns 7,392,190 shares of the semiconductor company’s stock valued at $76,361,000 after buying an additional 2,491,918 shares in the last quarter. Schroder Investment Management Group lifted its position in ASE Technology by 38.4% during the 3rd quarter. Schroder Investment Management Group now owns 7,258,450 shares of the semiconductor company’s stock worth $80,787,000 after acquiring an additional 2,012,970 shares during the period. Lazard Asset Management LLC lifted its position in ASE Technology by 11.1% during the 4th quarter. Lazard Asset Management LLC now owns 20,010,829 shares of the semiconductor company’s stock worth $322,174,000 after acquiring an additional 1,997,888 shares during the period. Millennium Management LLC increased its holdings in shares of ASE Technology by 130.8% in the third quarter. Millennium Management LLC now owns 3,169,267 shares of the semiconductor company’s stock valued at $35,147,000 after purchasing an additional 1,796,357 shares during the period. Finally, Bank of America Corp DE raised its position in ASE Technology by 18.8% during the 2nd quarter. Bank of America Corp DE now owns 8,815,184 shares of the semiconductor company’s stock worth $91,061,000 after buying an additional 1,397,206 shares during the last quarter. Hedge funds and other institutional investors own 6.80% of the company’s stock.

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.