ASE Technology (NYSE:ASX) Raised to “Buy” at StockNews.com

ASE Technology (NYSE:ASX) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Separately, Morgan Stanley cut shares of ASE Technology from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, June 25th.

ASE Technology Price Performance

Shares of ASE Technology stock traded down $0.02 during trading on Thursday, reaching $9.55. The company’s stock had a trading volume of 6,183,822 shares, compared to its average volume of 6,866,701. ASE Technology has a one year low of $7.25 and a one year high of $12.86. The stock has a 50-day moving average price of $10.14 and a two-hundred day moving average price of $10.60. The stock has a market capitalization of $20.92 billion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 0.59 and a beta of 1.22. The company has a current ratio of 1.17, a quick ratio of 0.90 and a debt-to-equity ratio of 0.33.

ASE Technology (NYSE:ASX) last released its earnings results on Thursday, July 25th. The semiconductor company reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. ASE Technology had a return on equity of 9.90% and a net margin of 5.38%. The company had revenue of $4.33 billion during the quarter. During the same quarter in the previous year, the firm earned $0.12 EPS. As a group, sell-side analysts anticipate that ASE Technology will post 0.51 EPS for the current fiscal year.

Institutional Trading of ASE Technology

Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its stake in shares of ASE Technology by 82.3% in the fourth quarter. Russell Investments Group Ltd. now owns 11,680 shares of the semiconductor company’s stock valued at $110,000 after acquiring an additional 5,272 shares in the last quarter. Principal Securities Inc. bought a new stake in ASE Technology during the 4th quarter worth $41,000. BNP Paribas Financial Markets increased its stake in shares of ASE Technology by 35.7% in the fourth quarter. BNP Paribas Financial Markets now owns 1,524,413 shares of the semiconductor company’s stock valued at $14,345,000 after buying an additional 400,746 shares during the period. QRG Capital Management Inc. raised its stake in shares of ASE Technology by 25.8% during the fourth quarter. QRG Capital Management Inc. now owns 84,800 shares of the semiconductor company’s stock valued at $798,000 after acquiring an additional 17,398 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in shares of ASE Technology by 28.9% during the fourth quarter. Panagora Asset Management Inc. now owns 36,267 shares of the semiconductor company’s stock worth $341,000 after purchasing an additional 8,136 shares during the period. 6.80% of the stock is owned by institutional investors and hedge funds.

About ASE Technology

ASE Technology Holding Co, Ltd., together with its subsidiaries, provides semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, Asia, Europe, and internationally. It develops, constructs, sells, leases, and manages real estate properties; produces substrates; offers information software, equipment leasing, investment advisory, and warehousing management services; commercial complex, after-sales, and support services; manages parking lot services; processes and sells computer and communication peripherals, electronic components, telecommunications equipment, and motherboards; and imports and exports goods and technology.