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

Wall Street Zen upgraded shares of ASE Technology (NYSE:ASX) from a hold rating to a buy rating in a report published on Sunday.

Several other research firms have also recently weighed in on ASX. Weiss Ratings reissued a “hold (c)” rating on shares of ASE Technology in a research report on Wednesday, January 21st. Zacks Research lowered shares of ASE Technology from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, ASE Technology has a consensus rating of “Hold”.

ASE Technology Trading Down 0.1%

ASE Technology stock opened at $22.27 on Friday. ASE Technology has a 52 week low of $6.94 and a 52 week high of $25.28. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.28. The firm has a market capitalization of $49.39 billion, a PE ratio of 38.39, a PEG ratio of 0.92 and a beta of 1.46. The business’s 50-day simple moving average is $21.96 and its 200-day simple moving average is $17.26.

ASE Technology (NYSE:ASX) last announced its earnings results on Thursday, February 5th. The semiconductor company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.47 billion. ASE Technology had a return on equity of 12.00% and a net margin of 6.31%. Equities research analysts forecast that ASE Technology will post 0.76 earnings per share for the current year.

Institutional Trading of ASE Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp raised its position in ASE Technology by 16.9% in the first quarter. Jones Financial Companies Lllp now owns 13,425 shares of the semiconductor company’s stock worth $118,000 after purchasing an additional 1,943 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in ASE Technology by 15.6% during the first quarter. Goldman Sachs Group Inc. now owns 5,775,272 shares of the semiconductor company’s stock valued at $50,591,000 after purchasing an additional 780,651 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of ASE Technology by 16.3% in the 2nd quarter. Geode Capital Management LLC now owns 13,576 shares of the semiconductor company’s stock valued at $140,000 after purchasing an additional 1,901 shares during the period. Legal & General Group Plc grew its stake in shares of ASE Technology by 261.9% in the 2nd quarter. Legal & General Group Plc now owns 15,647 shares of the semiconductor company’s stock valued at $162,000 after purchasing an additional 11,324 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of ASE Technology by 1,472.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 165,210 shares of the semiconductor company’s stock worth $1,747,000 after buying an additional 154,704 shares in the last quarter. Institutional investors 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.