Wall Street Zen Upgrades ASE Technology (NYSE:ASX) to Buy

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 to clients and investors on Sunday.

Several other equities research analysts also recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ASE Technology in a research report on Wednesday, January 21st. Zacks Research downgraded ASE Technology from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold”.

ASE Technology Stock Performance

Shares of ASX stock opened at $21.55 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 $47.79 billion, a PE ratio of 37.15, a P/E/G ratio of 0.89 and a beta of 1.41. The company’s fifty day simple moving average is $21.08 and its 200-day simple moving average is $16.18. ASE Technology has a 52 week low of $6.94 and a 52 week high of $25.28.

ASE Technology (NYSE:ASX) last announced its quarterly 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). ASE Technology had a return on equity of 12.00% and a net margin of 6.31%.The business had revenue of $5.67 billion for the quarter, compared to analysts’ expectations of $5.47 billion. As a group, equities research analysts anticipate that ASE Technology will post 0.76 EPS for the current year.

Hedge Funds Weigh In On ASE Technology

A number of institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new position in ASE Technology in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd increased 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 worth $29,000 after acquiring an additional 1,809 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of ASE Technology in the fourth quarter worth about $32,000. UMB Bank n.a. purchased a new position in ASE Technology in the fourth quarter valued at about $32,000. Finally, SBI Securities Co. Ltd. boosted its holdings in ASE Technology by 256.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,495 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 1,795 shares during the last quarter. Institutional investors and hedge funds own 6.80% of the company’s stock.

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.