Wall Street Zen Upgrades ASE Technology (NYSE:ASX) to “Buy”

ASE Technology (NYSE:ASX) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday, Wall Street Zen reports.

Several other equities analysts also recently weighed in on ASX. Weiss Ratings upgraded ASE Technology from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, October 9th. Zacks Research upgraded ASE Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. Based on data from MarketBeat, ASE Technology presently has a consensus rating of “Strong Buy”.

ASE Technology Stock Down 0.1%

Shares of ASX opened at $39.47 on Friday. The stock has a market cap of $88.23 billion, a price-to-earnings ratio of 36.89 and a beta of 1.79. ASE Technology has a 12 month low of $13.35 and a 12 month high of $47.93. The company has a 50-day moving average price of $41.48 and a two-hundred day moving average price of $33.21. The company has a quick ratio of 0.88, a current ratio of 1.16 and a debt-to-equity ratio of 0.70.

ASE Technology (NYSE:ASX) last released its quarterly earnings results on Thursday, October 29th. The semiconductor company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. ASE Technology had a return on equity of 18.97% and a net margin of 9.77%. The business had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.30 billion. Equities analysts predict that ASE Technology will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On ASE Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Eastern Bank grew its position in shares of ASE Technology by 10.5% in the third quarter. Eastern Bank now owns 2,339 shares of the semiconductor company’s stock valued at $104,000 after purchasing an additional 223 shares during the last quarter. Angeles Wealth Management LLC lifted its position in shares of ASE Technology by 5.2% during the 3rd quarter. Angeles Wealth Management LLC now owns 7,070 shares of the semiconductor company’s stock worth $314,000 after purchasing an additional 352 shares during the last quarter. MGO One Seven LLC raised its stake in ASE Technology by 5.3% during the third quarter. MGO One Seven LLC now owns 9,659 shares of the semiconductor company’s stock worth $429,000 after acquiring an additional 488 shares in the last quarter. IFP Advisors Inc lifted its position in ASE Technology by 107.7% during the 2nd quarter. IFP Advisors Inc now owns 947 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 491 shares during the period. Finally, Greenleaf Trust raised its holdings in shares of ASE Technology by 3.2% during the third quarter. Greenleaf Trust now owns 16,140 shares of the semiconductor company’s stock worth $718,000 after acquiring an additional 495 shares during the period. Hedge funds and other institutional investors own 6.80% of the company’s stock.

ASE Technology News Summary

Here are the key news stories impacting ASE Technology this week:

• Positive Sentiment: ASE reported third-quarter revenue of NT$244.2 billion, up 44.8% year over year and 27.8% sequentially. Earnings reached $0.37 per share, exceeding the $0.34 consensus estimate, while revenue of $7.66 billion also topped expectations. ASE Technology third-quarter financial results
• Positive Sentiment: Management raised its 2026 LEAP revenue outlook to more than $4 billion, reflecting strong demand. It also expects fourth-quarter revenue to grow 6% to 8% sequentially, supporting continued momentum in advanced semiconductor packaging and testing. ASE Technology LEAP outlook
• Neutral Sentiment: The earnings beat was substantial compared with the prior-year quarter, when ASE earned $0.16 per share. However, the stock’s elevated valuation means investors may have been expecting strong results and guidance.
• Negative Sentiment: ASE said it is operating at full capacity, creating near-term constraints that could limit its ability to immediately capitalize on demand. The company also indicated that higher investment and spending will shape its 2027 plans, raising concerns about capital intensity and future margins. ASE Technology earnings call highlights

About ASE Technology

ASE Technology Holding Co, Ltd. is a Taiwan-based provider of semiconductor manufacturing services. Through its subsidiaries, the company offers outsourced semiconductor assembly and test services, helping chip designers and manufacturers package, assemble and evaluate integrated circuits after wafer fabrication.

Its services include wafer probing, wafer bumping, semiconductor packaging, final testing and advanced packaging technologies such as flip-chip, system-in-package and fan-out solutions.