Brokerages Set ASE Technology Holding Co Ltd (NYSE:ASX) Target Price at $30.00

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ASE Technology Holding Co Ltd (NYSE:ASX) has received a consensus rating of “Hold” from the eight analysts that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $30.00.

A number of research firms have weighed in on ASX. ValuEngine upgraded ASE Technology from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 5th. Morgan Stanley downgraded ASE Technology from an “overweight” rating to an “equal” rating in a research report on Monday, September 23rd. Goldman Sachs Group started coverage on shares of ASE Technology in a research note on Wednesday, September 4th. They set a “buy” rating for the company. Finally, Zacks Investment Research cut shares of ASE Technology from a “hold” rating to a “sell” rating in a report on Thursday, October 31st.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS Group AG lifted its holdings in shares of ASE Technology by 7.6% in the 2nd quarter. UBS Group AG now owns 3,267,614 shares of the semiconductor company’s stock worth $12,907,000 after buying an additional 231,580 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of ASE Technology by 22.4% during the third quarter. Parametric Portfolio Associates LLC now owns 3,169,738 shares of the semiconductor company’s stock valued at $14,137,000 after buying an additional 580,239 shares during the period. Mondrian Investment Partners LTD raised its holdings in shares of ASE Technology by 0.5% in the third quarter. Mondrian Investment Partners LTD now owns 2,512,095 shares of the semiconductor company’s stock valued at $11,204,000 after acquiring an additional 13,730 shares in the last quarter. NINE MASTS CAPITAL Ltd bought a new stake in shares of ASE Technology in the second quarter valued at about $8,212,000. Finally, State of New Jersey Common Pension Fund D lifted its stake in ASE Technology by 12.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 1,934,260 shares of the semiconductor company’s stock worth $8,627,000 after acquiring an additional 208,496 shares during the period. Institutional investors own 5.05% of the company’s stock.

ASX opened at $4.84 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.88 and a current ratio of 1.14. The stock’s 50 day moving average price is $5.06 and its 200-day moving average price is $4.44. ASE Technology has a one year low of $3.46 and a one year high of $5.31. The stock has a market cap of $10.56 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 8.05 and a beta of 0.95.

ASE Technology (NYSE:ASX) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter. ASE Technology had a return on equity of 7.20% and a net margin of 3.87%. The firm had revenue of $3.77 billion during the quarter. As a group, analysts predict that ASE Technology will post 0.23 earnings per share for the current fiscal year.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. provides a range of semiconductors packaging and testing, and electronic manufacturing services (EMS) in the United States, Taiwan, Asia, Europe, and internationally. The company offers packaging services, including flip-chip ball grid array (BGA), flip-chip chip scale package (fcCSP), advanced chip scale packages (aCSP), quad flat packages, thin quad flat packages, bump chip carrier and quad flat no-lead (QFN) packages, advanced QFN packages, plastic BGAs, high-band package on package, and 3D chip packages; stacked die solutions in various package types; and copper wire and silver bonding solutions, as well as module-based solutions.

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Analyst Recommendations for ASE Technology (NYSE:ASX)

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