ASE Technology (NYSE:ASX) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of ASE Technology (NYSE:ASX) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Several other research analysts also recently commented on ASX. Weiss Ratings reissued a “hold (c)” rating on shares of ASE Technology in a research note on Wednesday, October 8th. Nomura Securities upgraded shares of ASE Technology to a “strong-buy” rating in a research report on Thursday, October 30th. Finally, Nomura raised shares of ASE Technology from a “neutral” rating to a “buy” rating in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, ASE Technology presently has a consensus rating of “Buy”.

ASE Technology Stock Performance

Shares of ASX opened at $15.73 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 1.13. ASE Technology has a one year low of $6.94 and a one year high of $16.51. The stock has a market cap of $34.88 billion, a P/E ratio of 31.45, a P/E/G ratio of 0.91 and a beta of 1.46. The stock has a 50-day moving average of $14.82 and a two-hundred day moving average of $12.08.

ASE Technology (NYSE:ASX) last posted its quarterly earnings data on Thursday, October 30th. The semiconductor company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. ASE Technology had a return on equity of 10.67% and a net margin of 5.61%. As a group, research analysts predict that ASE Technology will post 0.76 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ASX. Envestnet Asset Management Inc. increased its position in shares of ASE Technology by 4.5% during the second quarter. Envestnet Asset Management Inc. now owns 2,437,846 shares of the semiconductor company’s stock valued at $25,183,000 after acquiring an additional 105,491 shares during the last quarter. OLD Mission Capital LLC purchased a new position in shares of ASE Technology during the 1st quarter worth approximately $583,000. American Century Companies Inc. boosted its position in shares of ASE Technology by 20.9% during the 2nd quarter. American Century Companies Inc. now owns 3,180,215 shares of the semiconductor company’s stock worth $32,852,000 after purchasing an additional 549,025 shares during the period. Hantz Financial Services Inc. increased its holdings in ASE Technology by 3,929.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 18,094 shares of the semiconductor company’s stock valued at $187,000 after purchasing an additional 17,645 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. purchased a new stake in ASE Technology in the second quarter valued at approximately $258,000. Hedge funds and other institutional investors own 6.80% of the company’s stock.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. (NYSE: ASX), commonly referred to as ASE, is a Taiwan-based provider of semiconductor assembly and testing services. The company focuses on back-end semiconductor manufacturing and related services that prepare integrated circuits and other semiconductor devices for final use. Its core activities include advanced IC packaging, final testing, wafer probing, and related engineering and supply-chain support for semiconductor customers.

ASE offers a range of products and technical capabilities designed to meet increasingly complex packaging and system-in-package requirements.