Morgan Stanley Upgrades ASE Technology (NYSE:ASX) to Overweight

Morgan Stanley upgraded shares of ASE Technology (NYSE:ASX) from an equal weight rating to an overweight rating in a report published on Monday morning, MarketBeat Ratings reports.

Separately, StockNews.com raised ASE Technology from a hold rating to a buy rating in a report on Thursday, September 12th.

ASE Technology Stock Up 4.4 %

Shares of NYSE ASX opened at $10.02 on Monday. The stock has a market capitalization of $21.97 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 0.63 and a beta of 1.22. ASE Technology has a 52 week low of $7.25 and a 52 week high of $12.86. The firm has a 50-day moving average price of $9.92 and a 200 day moving average price of $10.60. The company has a quick ratio of 0.90, a current ratio of 1.17 and a debt-to-equity ratio of 0.33.

ASE Technology (NYSE:ASX) last announced its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.11 EPS for the quarter, hitting the consensus estimate 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 period last year, the firm earned $0.12 EPS. Equities research analysts anticipate that ASE Technology will post 0.51 EPS for the current fiscal year.

Institutional Trading of ASE Technology

Several institutional investors and hedge funds have recently modified their holdings of ASX. Allspring Global Investments Holdings LLC lifted its stake in shares of ASE Technology by 7.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 16,023 shares of the semiconductor company’s stock valued at $183,000 after buying an additional 1,046 shares during the period. Beverly Hills Private Wealth LLC grew its position in shares of 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 purchasing an additional 1,130 shares during the period. Atomi Financial Group Inc. increased its stake in ASE Technology by 3.6% in the second quarter. Atomi Financial Group Inc. now owns 38,924 shares of the semiconductor company’s stock valued at $445,000 after purchasing an additional 1,345 shares during the last quarter. Claro Advisors LLC lifted its position in 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 during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in ASE Technology by 13.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 17,295 shares of the semiconductor company’s stock worth $198,000 after buying an additional 2,083 shares during the last quarter. Hedge funds and other institutional investors 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.