Zacks Research upgraded shares of ASE Technology (NYSE:ASX – Free Report) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning,Zacks reports.
A number of other research analysts also recently commented on the company. Wall Street Zen downgraded ASE Technology from a “buy” rating to a “hold” rating in a report on Saturday, September 19th. Weiss Ratings upgraded ASE Technology from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat.com, ASE Technology presently has an average rating of “Buy”.
View Our Latest Research Report on ASX
ASE Technology Stock Performance
ASE Technology (NYSE:ASX – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. The company had revenue of $81.66 million during the quarter, compared to analysts’ expectations of $5.96 billion. ASE Technology had a net margin of 8.52% and a return on equity of 16.12%. On average, research analysts forecast that ASE Technology will post 1.23 EPS for the current fiscal year.
Hedge Funds Weigh In On ASE Technology
A number of hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its stake in 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 valued at $29,000 after buying an additional 1,809 shares in the last quarter. Bessemer Group Inc. lifted its holdings in ASE Technology by 135.4% during the 1st quarter. Bessemer Group Inc. now owns 1,438 shares of the semiconductor company’s stock worth $31,000 after buying an additional 827 shares during the last quarter. Ancora Advisors LLC acquired a new position in shares of ASE Technology in the 2nd quarter worth approximately $33,000. IFP Advisors Inc grew its position in shares of ASE Technology by 107.7% in the 2nd quarter. IFP Advisors Inc now owns 947 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 491 shares in the last quarter. Finally, Eastern Bank bought a new stake in shares of ASE Technology in the 2nd quarter valued at approximately $95,000. 6.80% of the stock is currently owned by institutional investors and hedge funds.
About ASE Technology
ASE Technology Holding Co, Ltd. is a Taiwan-based semiconductor manufacturing services company. Through its subsidiaries, including Advanced Semiconductor Engineering, Inc and Siliconware Precision Industries Co, Ltd., the company provides outsourced semiconductor assembly and testing (OSAT) services for chipmakers and electronics companies.
Its services include semiconductor packaging, wafer probing, final testing, electronic manufacturing services, and related materials and engineering solutions.
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