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

Key Points

• Wall Street Zen upgraded ASE Technology from "hold" to "buy", but analyst views are mixed (one Buy, one Hold, one Sell) and MarketBeat shows a consensus rating of "Hold".
• ASE reported Q EPS of $0.21 (beats by $0.01) while revenue of $5.22B missed estimates; the stock trades near $22.27 with a 12‑month range of $6.94–$25.28 and a market cap of about $49.4B (PE ~38.4).
• Institutional investors increased positions in Q4—HSBC raised its stake ~17% and Rockefeller added ~27%—with institutions owning roughly 6.8% of the shares.

ASE Technology (NYSE:ASX - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Sunday.

Several other analysts also recently weighed in on the company. Zacks Research downgraded ASE Technology from a "hold" rating to a "strong sell" rating in a research note on Thursday, January 1st. Weiss Ratings reissued a "hold (c)" rating on shares of ASE Technology in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ASE Technology has a consensus rating of "Hold".

ASE Technology Stock Down 0.1%

Shares of ASX stock opened at $22.27 on Friday. The stock has a 50 day moving average of $21.96 and a 200-day moving average of $17.22. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 0.57. ASE Technology has a 12 month low of $6.94 and a 12 month high of $25.28. The firm has a market cap of $49.39 billion, a PE ratio of 38.39, a price-to-earnings-growth ratio of 0.92 and a beta of 1.46.

ASE Technology (NYSE:ASX - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. ASE Technology had a return on equity of 12.00% and a net margin of 6.31%.The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.47 billion. On average, equities analysts predict that ASE Technology will post 0.76 EPS for the current year.

Institutional Trading of ASE Technology

A number of hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC raised its holdings in ASE Technology by 17.3% in the fourth quarter. Hsbc Holdings PLC now owns 1,873,784 shares of the semiconductor company's stock worth $30,147,000 after purchasing an additional 276,926 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of ASE Technology by 26.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 12,299 shares of the semiconductor company's stock worth $198,000 after purchasing an additional 2,607 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of ASE Technology by 180,900.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,810 shares of the semiconductor company's stock valued at $29,000 after buying an additional 1,809 shares in the last quarter. Groupama Asset Managment raised its stake in ASE Technology by 1.7% during the fourth quarter. Groupama Asset Managment now owns 81,792 shares of the semiconductor company's stock worth $1,317,000 after acquiring an additional 1,346 shares in the last quarter. Finally, SG Trading Solutions LLC bought a new stake in shares of ASE Technology in the fourth quarter worth $453,000. Hedge funds and other institutional investors own 6.80% of the company's stock.

About ASE Technology

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.