ASE Technology (NYSE:ASX) Rating Increased to Outperform at Macquarie

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Macquarie upgraded shares of ASE Technology (NYSE:ASX) from an underperform rating to an outperform rating in a research note released on Thursday, Briefing.com Automated Import reports.

A number of other equities analysts have also recently issued reports on ASX. Zacks Investment Research cut shares of ASE Technology from a hold rating to a sell rating in a research note on Thursday, June 20th. HSBC upgraded shares of ASE Technology from a hold rating to a buy rating in a research note on Thursday. ValuEngine upgraded shares of ASE Technology from a sell rating to a hold rating in a research note on Friday, July 12th. Finally, Cowen restated a market perform rating and set a $30.00 target price (down previously from $31.00) on shares of ASE Technology in a research note on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $17.38.

Shares of ASE Technology stock opened at $4.28 on Thursday. The company has a market cap of $9.25 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 5.59 and a beta of 1.02. The stock has a 50-day moving average price of $4.15. ASE Technology has a 1 year low of $3.46 and a 1 year high of $5.07. The company has a current ratio of 1.19, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64.

Institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC lifted its stake in ASE Technology by 4,976.1% during the 1st quarter. Parallel Advisors LLC now owns 7,868 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 7,713 shares during the period. BNP Paribas Arbitrage SA lifted its stake in ASE Technology by 180.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,298 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 5,337 shares during the period. CAPROCK Group Inc. bought a new position in ASE Technology during the 1st quarter valued at about $44,000. Financial Gravity Wealth Inc. bought a new position in ASE Technology during the 1st quarter valued at about $44,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in ASE Technology during the 1st quarter valued at about $48,000. Institutional investors and hedge funds own 5.47% of the company’s stock.

About ASE Technology

ASE Technology Holding Co, Ltd. provides a range of semiconductors packaging and testing, and electronic manufacturing services (EMS) in the United States, Taiwan, Asia, Europe, and internationally. The company offers packaging services, including flip-chip ball grid array (BGA), flip-chip chip scale package (fcCSP), advanced chip scale packages (aCSP), quad flat packages, thin quad flat packages, bump chip carrier and quad flat no-lead (QFN) packages, advanced QFN packages, plastic BGAs, high-band package on package, and 3D chip packages; stacked die solutions in various package types; and copper wire and silver bonding solutions, as well as module-based solutions.

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Analyst Recommendations for ASE Technology (NYSE:ASX)

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