ASE Technology (NYSE:ASX – Get Free Report) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Monday, Marketbeat Ratings reports.
Separately, StockNews.com upgraded ASE Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th.
Check Out Our Latest Report on ASE Technology
ASE Technology Stock Down 0.3 %
ASE Technology (NYSE:ASX – Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. The business had revenue of $4.33 billion for the quarter. ASE Technology had a return on equity of 9.90% and a net margin of 5.38%. During the same quarter in the previous year, the company posted $0.12 earnings per share. Equities research analysts forecast that ASE Technology will post 0.51 earnings per share for the current year.
Hedge Funds Weigh In On ASE Technology
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASX. Principal Securities Inc. bought a new position in ASE Technology in the 4th quarter worth approximately $41,000. Ashton Thomas Private Wealth LLC bought a new position in ASE Technology in the 2nd quarter worth approximately $43,000. Fifth Third Bancorp grew its holdings in ASE Technology by 423.8% in the 2nd quarter. Fifth Third Bancorp now owns 6,537 shares of the semiconductor company’s stock worth $75,000 after buying an additional 5,289 shares in the last quarter. Burns Matteson Capital Management LLC bought a new position in ASE Technology in the 1st quarter worth approximately $107,000. Finally, EverSource Wealth Advisors LLC boosted 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 purchasing an additional 3,103 shares in the last quarter. 6.80% of the stock is owned by institutional investors.
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.
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