ASE Technology (NYSE:ASX) Raised to “Buy” at Wall Street Zen

ASE Technology (NYSE:ASX) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other brokerages have also recently commented on ASX. Nomura raised ASE Technology from a “neutral” rating to a “buy” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, October 8th. Finally, Nomura Securities upgraded shares of ASE Technology to a “strong-buy” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

ASE Technology Price Performance

Shares of NYSE:ASX opened at $15.73 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.64. The stock has a market cap of $34.88 billion, a PE ratio of 31.45, a PEG ratio of 0.91 and a beta of 1.46. The company’s fifty day moving average is $14.82 and its 200 day moving average is $12.09. ASE Technology has a 52 week low of $6.94 and a 52 week high of $16.51.

ASE Technology (NYSE:ASX) last announced its quarterly earnings data on Thursday, October 30th. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. ASE Technology had a return on equity of 10.67% and a net margin of 5.61%. Research analysts anticipate that ASE Technology will post 0.76 earnings per share for the current year.

Institutional Trading of ASE Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its position in ASE Technology by 1,704.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,653 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 2,506 shares during the period. Farther Finance Advisors LLC increased its position in shares of ASE Technology by 154.3% during the second quarter. Farther Finance Advisors LLC now owns 2,746 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 1,666 shares during the period. WealthCollab LLC raised its stake in ASE Technology by 55.2% in the second quarter. WealthCollab LLC now owns 4,850 shares of the semiconductor company’s stock worth $50,000 after buying an additional 1,726 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in ASE Technology by 537.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,928 shares of the semiconductor company’s stock worth $51,000 after buying an additional 4,155 shares in the last quarter. Finally, MAI Capital Management lifted its holdings in ASE Technology by 2,409.6% in the second quarter. MAI Capital Management now owns 4,969 shares of the semiconductor company’s stock worth $51,000 after buying an additional 4,771 shares during the period. Hedge funds and other institutional investors own 6.80% of the company’s stock.

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.