ASE Technology (NYSE:ASX) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of ASE Technology (NYSE:ASX) from a hold rating to a buy rating in a research note issued to investors on Monday, Zacks.com reports. They currently have $9.25 target price on the semiconductor company’s stock.

According to Zacks, “ASE Technology Holding Co Ltd. is a provider of semiconductor manufacturing services in assembly and testing. The Company develops and offers complete turnkey solutions covering front-end engineering testing, wafer probing and final testing as well as IC packaging, materials and electronic manufacturing services. It operates primarily in Taiwan, China, South Korea, Japan, Singapore, Malaysia, Mexico, United States and Europe. ASE Technology Holding Co Ltd, formerly known as ASE Industrial Holding Co., is based in Kaohsiung, Taiwan. “

Shares of ASX stock opened at $8.31 on Monday. The company has a 50-day moving average price of $8.04. ASE Technology has a twelve month low of $3.88 and a twelve month high of $9.00. The firm has a market cap of $18.03 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 0.82 and a beta of 1.04. The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 0.70.

ASE Technology (NYSE:ASX) last posted its quarterly earnings results on Wednesday, April 28th. The semiconductor company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $4.25 billion during the quarter. ASE Technology had a return on equity of 14.16% and a net margin of 6.47%. On average, sell-side analysts predict that ASE Technology will post 0.67 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. O Shaughnessy Asset Management LLC grew its holdings in ASE Technology by 129.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 6,968 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 3,926 shares during the period. Marshall Wace North America L.P. purchased a new stake in ASE Technology in the 1st quarter valued at about $61,000. ExodusPoint Capital Management LP purchased a new stake in ASE Technology in the 4th quarter valued at about $65,000. Capital Asset Advisory Services LLC purchased a new stake in ASE Technology in the 4th quarter valued at about $67,000. Finally, Mizuho Securities Co. Ltd. grew its holdings in ASE Technology by 155.2% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 9,866 shares of the semiconductor company’s stock valued at $76,000 after buying an additional 6,000 shares during the period. Institutional investors own 5.17% of the company’s stock.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. provides a range of semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, rest of Asia, Europe, and internationally. The company offers packaging services, including flip chip ball grid array (BGA), flip chip chip scale package (CSP), advanced chip scale packages, quad flat packages, low profile and thin quad flat packages, bump chip carrier and quad flat no-lead (QFN) packages, advanced QFN packages, plastic BGAs, and 3D chip packages; stacked die solutions in various package types; and copper and silver wire bonding solutions.

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