ASE Technology (NYSE:ASX) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of ASE Technology (NYSE:ASX) from a hold rating to a buy rating in a research note released on Thursday.

Separately, Morgan Stanley cut ASE Technology from an overweight rating to an equal weight rating in a report on Tuesday, June 25th.

ASE Technology Stock Up 1.3 %

Shares of ASX opened at $9.66 on Thursday. The company has a current ratio of 1.17, a quick ratio of 0.90 and a debt-to-equity ratio of 0.33. The firm has a market cap of $21.20 billion, a P/E ratio of 21.00, a PEG ratio of 0.63 and a beta of 1.22. The stock’s 50 day moving average is $10.10 and its two-hundred day moving average is $10.61. ASE Technology has a 12 month low of $7.25 and a 12 month high of $12.86.

ASE Technology (NYSE:ASX) last posted its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. ASE Technology had a net margin of 5.38% and a return on equity of 9.90%. The company had revenue of $4.33 billion during the quarter. During the same quarter in the prior year, the company posted $0.12 earnings per share. Analysts predict that ASE Technology will post 0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ASX. Principal Securities Inc. purchased a new stake in shares of ASE Technology during the fourth quarter worth $41,000. Ashton Thomas Private Wealth LLC acquired a new position in ASE Technology during the second quarter worth about $43,000. Fifth Third Bancorp grew its stake in ASE Technology by 423.8% during the 2nd quarter. Fifth Third Bancorp now owns 6,537 shares of the semiconductor company’s stock valued at $75,000 after acquiring an additional 5,289 shares in the last quarter. Burns Matteson Capital Management LLC acquired a new stake in ASE Technology in the 1st quarter valued at about $107,000. Finally, EverSource Wealth Advisors LLC lifted its stake in ASE Technology by 36.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 11,583 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 3,103 shares in the last quarter. 6.80% of the stock is owned by institutional investors and hedge funds.

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.