ASE Technology (NYSE:ASX) Upgraded by Zacks Research to Strong-Buy Rating

Key Points

• Zacks Research upgraded ASE Technology from “hold” to “strong buy,” while the broader analyst consensus remains “buy.”
• ASE Technology reported quarterly EPS of $0.29, beating the $0.23 consensus estimate by $0.06; analysts expect full-year EPS of $1.23.
• Shares opened at $43.84, near the company’s 52-week high of $45.51, with a market capitalization of approximately $98.01 billion.

ASE Technology (NYSE:ASX - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Tuesday, Zacks reports.

Other equities analysts also recently issued reports about the stock. Weiss Ratings upgraded shares of ASE Technology from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Wall Street Zen downgraded shares of ASE Technology from a "buy" rating to a "hold" rating in a report on Saturday, September 19th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat.com, ASE Technology currently has an average rating of "Buy".

ASE Technology Price Performance

Shares of NYSE ASX opened at $43.84 on Tuesday. The firm has a market cap of $98.01 billion, a P/E ratio of 50.98 and a beta of 1.71. The company has a current ratio of 1.07, a quick ratio of 0.81 and a debt-to-equity ratio of 0.54. ASE Technology has a 1-year low of $10.93 and a 1-year high of $45.51. The business's 50 day moving average is $38.18 and its 200-day moving average is $34.30.

ASE Technology (NYSE:ASX - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.06. ASE Technology had a return on equity of 16.12% and a net margin of 8.52%.The business had revenue of $81.66 million during the quarter, compared to the consensus estimate of $5.96 billion. Equities research analysts predict that ASE Technology will post 1.23 earnings per share for the current year.

Institutional Trading of ASE Technology

Institutional investors have recently modified their holdings of the stock. Natixis Advisors LLC raised its stake in ASE Technology by 1.7% in the fourth quarter. Natixis Advisors LLC now owns 2,543,138 shares of the semiconductor company's stock valued at $40,945,000 after purchasing an additional 42,623 shares in the last quarter. Hsbc Holdings PLC grew its stake in ASE Technology by 7.5% during the first quarter. Hsbc Holdings PLC now owns 2,014,412 shares of the semiconductor company's stock worth $43,654,000 after buying an additional 140,628 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in ASE Technology by 9.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,399,553 shares of the semiconductor company's stock valued at $30,342,000 after buying an additional 125,324 shares during the period. BNP Paribas Financial Markets increased its holdings in ASE Technology by 59.7% in the 4th quarter. BNP Paribas Financial Markets now owns 898,625 shares of the semiconductor company's stock valued at $14,468,000 after buying an additional 335,973 shares during the period. Finally, Sei Investments Co. raised its position in shares of ASE Technology by 12.1% in the 1st quarter. Sei Investments Co. now owns 812,019 shares of the semiconductor company's stock valued at $17,604,000 after buying an additional 87,689 shares in the last quarter. 6.80% of the stock is currently owned by institutional investors.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. is a Taiwan-based semiconductor manufacturing services company. Through its subsidiaries, including Advanced Semiconductor Engineering, Inc and Siliconware Precision Industries Co, Ltd., the company provides outsourced semiconductor assembly and testing (OSAT) services for chipmakers and electronics companies.

Its services include semiconductor packaging, wafer probing, final testing, electronic manufacturing services, and related materials and engineering solutions.

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