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

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

ASX has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ASE Technology in a research note on Wednesday, January 21st. Zacks Research lowered ASE Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

ASE Technology Trading Up 1.3%

NYSE:ASX opened at $22.56 on Friday. ASE Technology has a 1 year low of $6.94 and a 1 year high of $25.28. The stock has a market capitalization of $50.04 billion, a price-to-earnings ratio of 38.89, a PEG ratio of 0.92 and a beta of 1.46. The stock has a fifty day moving average price of $22.02 and a two-hundred day moving average price of $17.34. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.28.

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

Institutional Trading of ASE Technology

A number of hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its stake in ASE Technology by 1.9% in the 4th quarter. Parallel Advisors LLC now owns 25,975 shares of the semiconductor company’s stock worth $418,000 after buying an additional 482 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in ASE Technology by 5.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,223 shares of the semiconductor company’s stock worth $181,000 after buying an additional 589 shares during the last quarter. Vest Financial LLC boosted its stake in ASE Technology by 5.2% in the 4th quarter. Vest Financial LLC now owns 12,954 shares of the semiconductor company’s stock worth $209,000 after buying an additional 637 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in ASE Technology by 0.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 120,598 shares of the semiconductor company’s stock worth $1,942,000 after buying an additional 643 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its stake in ASE Technology by 1.8% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 36,780 shares of the semiconductor company’s stock worth $408,000 after buying an additional 650 shares during the last quarter. 6.80% of the stock is owned by institutional investors and hedge funds.

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.