ASE Technology (NYSE:ASX) Upgraded at Wall Street Zen
by Amy Steele · The Cerbat Gem
Wall Street Zen upgraded shares of ASE Technology (NYSE:ASX – Free Report) from a hold rating to a buy rating in a research note issued to investors on Sunday.
ASX has been the subject of several other reports. Weiss Ratings restated a “hold (c)” rating on shares of ASE Technology in a research note on Wednesday, January 21st. Zacks Research cut ASE Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold”.
View Our Latest Report on ASE Technology
ASE Technology Stock Performance
ASX opened at $22.17 on Friday. The firm has a market cap of $49.17 billion, a P/E ratio of 38.22, a price-to-earnings-growth ratio of 0.92 and a beta of 1.46. 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 business’s fifty day moving average is $22.06 and its 200-day moving average is $17.42.
ASE Technology (NYSE:ASX – Get Free Report) last released its earnings results on Thursday, February 5th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. The company 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%. Sell-side analysts expect that ASE Technology will post 0.76 EPS for the current fiscal year.
Institutional Investors Weigh In On ASE Technology
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its holdings in shares of ASE Technology by 1.9% during the fourth quarter. Parallel Advisors LLC now owns 25,975 shares of the semiconductor company’s stock worth $418,000 after buying an additional 482 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of ASE Technology by 5.5% during the fourth 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 in the last quarter. Vest Financial LLC increased its holdings in shares of ASE Technology by 5.2% during the fourth quarter. Vest Financial LLC now owns 12,954 shares of the semiconductor company’s stock worth $209,000 after buying an additional 637 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of ASE Technology by 0.5% during the fourth 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 in the last quarter. Finally, Frank Rimerman Advisors LLC increased its holdings in shares of ASE Technology by 1.8% during the third 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 in the last quarter. 6.80% of the stock is currently owned by institutional investors.
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.