ASE Technology (NYSE:ASX) Rating Increased to Overweight at Morgan Stanley

ASE Technology (NYSE:ASX) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Monday, MarketBeat Ratings reports.

Separately, StockNews.com raised shares of ASE Technology from a “hold” rating to a “buy” rating in a research report on Thursday.

ASE Technology Stock Up 1.7 %

ASX stock opened at $9.82 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.17 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $21.53 billion, a PE ratio of 21.33, a P/E/G ratio of 0.63 and a beta of 1.22. The stock’s 50 day moving average is $10.10 and its 200-day moving average is $10.61. ASE Technology has a twelve month low of $7.25 and a twelve month high of $12.86.

ASE Technology (NYSE:ASX) last issued its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. The firm had revenue of $4.33 billion during the quarter. ASE Technology had a return on equity of 9.90% and a net margin of 5.38%. During the same quarter last year, the business posted $0.12 EPS. Sell-side analysts expect that ASE Technology will post 0.51 EPS for the current fiscal year.

Hedge Funds Weigh In On ASE Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Securities Inc. purchased a new position in shares of ASE Technology in the 4th quarter valued at approximately $41,000. Ashton Thomas Private Wealth LLC purchased a new position in ASE Technology in the 2nd quarter valued at about $43,000. Fifth Third Bancorp boosted its stake in shares of ASE Technology by 423.8% in the second quarter. Fifth Third Bancorp now owns 6,537 shares of the semiconductor company’s stock worth $75,000 after acquiring an additional 5,289 shares during the last quarter. Burns Matteson Capital Management LLC purchased a new stake in shares of ASE Technology during the first quarter worth $107,000. Finally, EverSource Wealth Advisors LLC grew its stake in ASE Technology by 36.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 11,583 shares of the semiconductor company’s stock valued at $109,000 after acquiring an additional 3,103 shares in the last quarter. Institutional investors own 6.80% of the company’s stock.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd., together with its subsidiaries, provides semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, Asia, Europe, and internationally. It develops, constructs, sells, leases, and manages real estate properties; produces substrates; offers information software, equipment leasing, investment advisory, and warehousing management services; commercial complex, after-sales, and support services; manages parking lot services; processes and sells computer and communication peripherals, electronic components, telecommunications equipment, and motherboards; and imports and exports goods and technology.