ASE Technology (NYSE:ASX) Upgraded at UBS Group

ASE Technology (NYSE:ASX) was upgraded by equities research analysts at UBS Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, FinViz reports.

Other analysts also recently issued research reports about the stock. StockNews.com downgraded shares of ASE Technology from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. Morgan Stanley upgraded shares of ASE Technology from an “equal weight” rating to an “overweight” rating in a research note on Monday, September 16th.

ASE Technology Stock Up 2.0 %

Shares of NYSE ASX opened at $10.16 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.17 and a debt-to-equity ratio of 0.33. The firm’s fifty day moving average is $9.71 and its 200 day moving average is $10.47. The company has a market cap of $22.27 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 0.65 and a beta of 1.22. ASE Technology has a 52 week low of $7.33 and a 52 week high of $12.86.

ASE Technology (NYSE:ASX) last released its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The business had revenue of $4.33 billion for the quarter. ASE Technology had a net margin of 5.38% and a return on equity of 9.90%. During the same quarter in the previous year, the business posted $0.12 earnings per share. On average, equities research analysts expect that ASE Technology will post 0.51 earnings per share for the current year.

Hedge Funds Weigh In On ASE Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in ASE Technology by 1,796.7% in the 1st quarter. Russell Investments Group Ltd. now owns 221,531 shares of the semiconductor company’s stock valued at $2,437,000 after purchasing an additional 209,851 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of ASE Technology during the 1st quarter valued at approximately $812,000. Capstone Investment Advisors LLC increased its position in ASE Technology by 640.1% in the first quarter. Capstone Investment Advisors LLC now owns 107,192 shares of the semiconductor company’s stock worth $1,178,000 after buying an additional 92,708 shares during the period. Acadian Asset Management LLC grew its stake in shares of ASE Technology by 89.7% in the first quarter. Acadian Asset Management LLC now owns 9,861,612 shares of the semiconductor company’s stock worth $108,364,000 after purchasing an additional 4,664,258 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of ASE Technology in the second quarter worth $1,901,000. 6.80% of the stock is currently owned by hedge funds and other institutional investors.

ASE Technology Company Profile

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.