Zacks Research Upgrades ASE Technology (NYSE:ASX) to “Hold”

ASE Technology (NYSE:ASX) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other analysts also recently issued reports on ASX. Wall Street Zen raised ASE Technology from a “hold” rating to a “buy” rating in a research report on Sunday. Weiss Ratings reiterated a “hold (c)” rating on shares of ASE Technology in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, ASE Technology currently has an average rating of “Hold”.

ASE Technology Stock Performance

Shares of ASE Technology stock opened at $22.17 on Monday. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. The business’s fifty day simple moving average is $22.06 and its 200 day simple moving average is $17.42. ASE Technology has a 12 month low of $6.94 and a 12 month high of $25.28. The firm has a market capitalization 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 (NYSE:ASX) last released its earnings results on Thursday, February 5th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. ASE Technology had a return on equity of 12.00% and a net margin of 6.31%.The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.47 billion. As a group, analysts anticipate that ASE Technology will post 0.76 EPS for the current year.

Hedge Funds Weigh In On ASE Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its position in 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 grew its position in 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 grew its position in 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. grew its position in 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 lifted its stake in 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 purchasing an additional 650 shares during the last quarter. 6.80% of the stock is currently owned by hedge funds and other institutional investors.

About ASE Technology

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.