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

ASE Technology (NYSE:ASX) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Separately, Morgan Stanley cut shares of ASE Technology from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, June 25th.

ASE Technology Price Performance

Shares of ASX stock opened at $9.67 on Thursday. ASE Technology has a 12 month low of $7.25 and a 12 month high of $12.86. The company has a market capitalization of $21.22 billion, a P/E ratio of 21.00, a P/E/G ratio of 0.63 and a beta of 1.22. The stock has a 50 day moving average of $10.14 and a two-hundred day moving average of $10.60. The company has a current ratio of 1.17, a quick ratio of 0.90 and a debt-to-equity ratio of 0.33.

ASE Technology (NYSE:ASX) last issued its earnings results on Thursday, July 25th. The semiconductor company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. ASE Technology had a return on equity of 9.90% and a net margin of 5.38%. The firm had revenue of $4.33 billion during the quarter. During the same period last year, the business earned $0.12 earnings per share. As a group, equities analysts expect that ASE Technology will post 0.51 EPS for the current year.

Institutional Trading of ASE Technology

Several institutional investors have recently bought and sold shares of ASX. Allspring Global Investments Holdings LLC boosted its stake in shares of ASE Technology by 7.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 16,023 shares of the semiconductor company’s stock valued at $183,000 after purchasing an additional 1,046 shares in the last quarter. Beverly Hills Private Wealth LLC boosted its position in ASE Technology by 5.4% in the second quarter. Beverly Hills Private Wealth LLC now owns 22,195 shares of the semiconductor company’s stock valued at $253,000 after buying an additional 1,130 shares in the last quarter. Atomi Financial Group Inc. grew its stake in ASE Technology by 3.6% during the second quarter. Atomi Financial Group Inc. now owns 38,924 shares of the semiconductor company’s stock worth $445,000 after buying an additional 1,345 shares during the last quarter. Claro Advisors LLC increased its holdings in shares of ASE Technology by 4.2% during the first quarter. Claro Advisors LLC now owns 37,798 shares of the semiconductor company’s stock worth $415,000 after buying an additional 1,529 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of ASE Technology by 13.7% in the second quarter. EverSource Wealth Advisors LLC now owns 17,295 shares of the semiconductor company’s stock valued at $198,000 after acquiring an additional 2,083 shares during the last quarter. Institutional investors and hedge funds own 6.80% of the company’s stock.

About ASE Technology

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.