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

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

Several other research analysts have also recently issued reports on the company. Wall Street Zen cut ASE Technology from a “buy” rating to a “hold” rating in a research report on Saturday, September 19th. Weiss Ratings raised shares of ASE Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy”.

ASE Technology Stock Performance

NYSE:ASX opened at $43.84 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.07 and a quick ratio of 0.81. The firm has a market cap of $98.01 billion, a price-to-earnings ratio of 50.98 and a beta of 1.71. The firm’s fifty day moving average price is $38.18 and its 200 day moving average price is $34.30. ASE Technology has a 1-year low of $10.93 and a 1-year high of $45.51.

ASE Technology (NYSE:ASX) last announced its quarterly earnings data 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 return on equity of 16.12% and a net margin of 8.52%.The company 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 EPS for the current year.

Institutional Investors Weigh In On ASE Technology

A number of large investors have recently bought and sold shares of ASX. Arrowstreet Capital Limited Partnership acquired a new stake in shares of ASE Technology during the first quarter valued at $10,436,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in ASE Technology in the 1st quarter valued at about $8,932,000. BNP Paribas Financial Markets lifted its holdings in ASE Technology by 59.7% in the 4th quarter. BNP Paribas Financial Markets now owns 898,625 shares of the semiconductor company’s stock valued at $14,468,000 after purchasing an additional 335,973 shares in the last quarter. Nykredit A S purchased a new position in ASE Technology in the 2nd quarter valued at about $14,247,000. Finally, Capital Wealth Planning LLC boosted its stake in shares of ASE Technology by 111.9% during the 4th quarter. Capital Wealth Planning LLC now owns 577,950 shares of the semiconductor company’s stock worth $9,744,000 after purchasing an additional 305,192 shares during the last quarter. Institutional investors and hedge funds own 6.80% of the company’s stock.

ASE Technology Company Profile

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.