ASE Technology (NYSE:ASX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The firm currently has a $8.25 price objective on the semiconductor company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 20.09% from the stock’s previous close.
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, TheStreet upgraded shares of ASE Technology from a “c+” rating to a “b-” rating in a research report on Monday, February 8th.
ASE Technology (NYSE:ASX) last announced its earnings results on Wednesday, April 28th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.02. ASE Technology had a net margin of 5.39% and a return on equity of 11.06%. As a group, analysts expect that ASE Technology will post 0.38 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in ASX. PDS Planning Inc bought a new position in shares of ASE Technology in the fourth quarter worth $59,000. Vestmark Advisory Solutions Inc. bought a new position in ASE Technology in the first quarter valued at about $79,000. ExodusPoint Capital Management LP bought a new position in ASE Technology in the fourth quarter valued at about $65,000. Aaron Wealth Advisors bought a new position in ASE Technology in the first quarter valued at about $87,000. Finally, Wedbush Securities Inc. bought a new position in ASE Technology in the first quarter valued at about $87,000. 4.31% of the stock is owned by institutional investors and hedge funds.
About ASE Technology
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. The company offers packaging services, including flip chip ball grid array (BGA), flip chip 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 package types; and copper and silver wire bonding solutions.
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