ASE Technology (NYSE:ASX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ASE Technology (NYSE:ASX) from a hold rating to a buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also recently issued reports on the stock. Zacks Research upgraded shares of ASE Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 22nd. Weiss Ratings upgraded shares of ASE Technology from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Strong Buy”.

ASE Technology Stock Performance

Shares of ASX stock opened at $39.10 on Friday. The firm has a market capitalization of $87.39 billion, a price-to-earnings ratio of 36.54 and a beta of 1.66. The company has a current ratio of 1.07, a quick ratio of 0.81 and a debt-to-equity ratio of 0.54. The business’s 50-day moving average price is $41.53 and its 200-day moving average price is $33.31. ASE Technology has a 12 month low of $13.35 and a 12 month high of $47.93.

ASE Technology (NYSE:ASX) last released its quarterly earnings data on Thursday, October 29th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.03. The company had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.30 billion. ASE Technology had a return on equity of 16.12% and a net margin of 8.52%. Equities research analysts forecast that ASE Technology will post 1.27 EPS for the current year.

Institutional Investors Weigh In On ASE Technology

Several institutional investors and hedge funds have recently made changes to their positions in ASX. Bessemer Group Inc. boosted its holdings in shares of 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 in the last quarter. Ancora Advisors LLC bought a new stake in shares of ASE Technology during the second quarter worth about $33,000. Curry Webb Wealth Management LLC bought a new stake in shares of ASE Technology during the third quarter worth about $40,000. IFP Advisors Inc raised its holdings 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 during the last quarter. Finally, Root Financial Partners LLC acquired a new stake in shares of ASE Technology in the 3rd quarter worth about $44,000. Institutional investors own 6.80% of the company’s stock.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. is a Taiwan-based provider of semiconductor manufacturing services. Through its subsidiaries, the company offers outsourced semiconductor assembly and test services, helping chip designers and manufacturers package, assemble and evaluate integrated circuits after wafer fabrication.

Its services include wafer probing, wafer bumping, semiconductor packaging, final testing and advanced packaging technologies such as flip-chip, system-in-package and fan-out solutions.