ASE Technology (NYSE:ASX) Upgraded to Buy by UBS Group

UBS Group upgraded shares of ASE Technology (NYSE:ASX) from a neutral rating to a buy rating in a research note published on Tuesday, Marketbeat.com reports.

Other analysts also recently issued reports about the stock. Morgan Stanley raised shares of ASE Technology from an equal weight rating to an overweight rating in a research report on Monday, September 16th. StockNews.com cut shares of ASE Technology from a buy rating to a hold rating in a report on Friday, September 20th.

ASE Technology Price Performance

ASX stock opened at $10.21 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.90 and a current ratio of 1.17. The firm has a 50 day moving average price of $9.71 and a 200-day moving average price of $10.47. ASE Technology has a 52-week low of $7.33 and a 52-week high of $12.86. The firm has a market capitalization of $22.38 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 0.65 and a beta of 1.22.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC raised its position in ASE Technology by 2.8% in the 1st quarter. Lazard Asset Management LLC now owns 21,308,753 shares of the semiconductor company’s stock worth $234,182,000 after buying an additional 584,333 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of ASE Technology by 89.7% in the first quarter. Acadian Asset Management LLC now owns 9,861,612 shares of the semiconductor company’s stock worth $108,364,000 after acquiring an additional 4,664,258 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of ASE Technology by 35.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,884,868 shares of the semiconductor company’s stock worth $36,557,000 after acquiring an additional 1,009,795 shares during the period. Earnest Partners LLC raised its holdings in shares of ASE Technology by 10.4% during the second quarter. Earnest Partners LLC now owns 2,840,090 shares of the semiconductor company’s stock valued at $32,434,000 after purchasing an additional 266,991 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in ASE Technology by 3.4% during the second quarter. American Century Companies Inc. now owns 1,939,422 shares of the semiconductor company’s stock valued at $22,148,000 after purchasing an additional 63,237 shares during the period. 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.