ASE Technology (NYSE:ASX) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of ASE Technology (NYSE:ASXGet Rating) from a strong sell rating to a hold rating in a research report released on Friday, Zacks.com reports.

According to Zacks, “ASE Technology Holding Co Ltd. is a provider of semiconductor manufacturing services in assembly and testing. The Company develops and offers complete turnkey solutions covering front-end engineering testing, wafer probing and final testing as well as IC packaging, materials and electronic manufacturing services. It operates primarily in Taiwan, China, South Korea, Japan, Singapore, Malaysia, Mexico, United States and Europe. ASE Technology Holding Co Ltd, formerly known as ASE Industrial Holding Co., is based in Kaohsiung, Taiwan. “

Separately, StockNews.com raised ASE Technology from a hold rating to a buy rating in a research note on Saturday, April 23rd. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $8.18.

Shares of ASX opened at $7.08 on Friday. The company has a market cap of $15.54 billion, a P/E ratio of 6.44, a PEG ratio of 0.29 and a beta of 1.02. The stock has a fifty day moving average price of $6.81 and a 200 day moving average price of $7.22. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.22 and a quick ratio of 0.88. ASE Technology has a 12 month low of $6.18 and a 12 month high of $9.62.

ASE Technology (NYSE:ASXGet Rating) last released its quarterly earnings results on Thursday, April 28th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter. ASE Technology had a return on equity of 26.31% and a net margin of 11.49%. The company had revenue of $5.16 billion during the quarter. As a group, research analysts anticipate that ASE Technology will post 0.87 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. Clearstead Advisors LLC boosted its stake in ASE Technology by 131.1% during the third quarter. Clearstead Advisors LLC now owns 3,677 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 2,086 shares in the last quarter. CVA Family Office LLC bought a new position in ASE Technology during the fourth quarter valued at about $32,000. National Bank of Canada FI bought a new position in ASE Technology during the fourth quarter valued at about $33,000. EverSource Wealth Advisors LLC boosted its stake in ASE Technology by 299.4% during the first quarter. EverSource Wealth Advisors LLC now owns 4,992 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 3,742 shares in the last quarter. Finally, Fieldpoint Private Securities LLC boosted its stake in ASE Technology by 137.7% during the first quarter. Fieldpoint Private Securities LLC now owns 6,239 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 3,614 shares in the last quarter. 6.48% of the stock is owned by institutional investors and hedge funds.

About ASE Technology (Get Rating)

ASE Technology Holding Co, Ltd. provides a range of semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, rest of Asia, Europe, and internationally. It offers packaging services, including flip chip ball grid array (BGA) and chip scale package (CSP), advanced chip scale packages, quad flat packages, low profile and thin quad flat packages, bump chip carrier and quad flat no-lead (QFN) packages, advanced QFN packages, plastic BGAs, and 3D chip packages; stacked die solutions in various packages; and copper and silver wire bonding solutions.

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