ASE Technology (NYSE:ASX) Raised to Strong-Buy at Zacks Research

ASE Technology (NYSE:ASX) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, Zacks reports.

ASX has been the subject of a number of other research reports. Weiss Ratings upgraded shares of ASE Technology from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Wall Street Zen lowered ASE Technology from a “buy” rating to a “hold” rating in a research report on Saturday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

ASE Technology Price Performance

ASE Technology stock opened at $43.84 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.81 and a current ratio of 1.07. ASE Technology has a 52 week low of $10.93 and a 52 week high of $45.51. The stock has a market capitalization of $98.01 billion, a P/E ratio of 50.98 and a beta of 1.71. The stock has a fifty day moving average of $38.18 and a 200-day moving average of $34.30.

ASE Technology (NYSE:ASX) last issued its earnings results 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. ASE Technology had a net margin of 8.52% and a return on equity of 16.12%. The firm had revenue of $81.66 million for the quarter, compared to analyst estimates of $5.96 billion. On average, sell-side analysts expect that ASE Technology will post 1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ASE Technology

Hedge funds have recently bought and sold shares of the company. Nykredit A S acquired a new position in ASE Technology in the second quarter valued at $14,247,000. Hsbc Holdings PLC grew its holdings in ASE Technology by 7.5% during the 1st quarter. Hsbc Holdings PLC now owns 2,014,412 shares of the semiconductor company’s stock worth $43,654,000 after acquiring an additional 140,628 shares during the period. Navellier & Associates Inc. acquired a new position in shares of ASE Technology in the 2nd quarter valued at about $3,975,000. Nilsine Partners LLC bought a new stake in shares of ASE Technology during the 2nd quarter valued at about $1,278,000. Finally, Barometer Capital Management Inc. bought a new stake in shares of ASE Technology during the 1st quarter valued at about $3,003,000. Institutional investors own 6.80% of the company’s stock.

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.