ASE Technology (NYSE:ASX) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Monday, February 4th.
Several other analysts have also recently commented on ASX. CLSA cut shares of ASE Technology from an “outperform” rating to an “underperform” rating in a report on Monday, October 8th. JPMorgan Chase & Co. cut shares of ASE Technology from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 10th. Zacks Investment Research upgraded shares of ASE Technology from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a research note on Wednesday, November 28th. Finally, Macquarie cut shares of ASE Technology from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 2nd. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $4.25.
Shares of ASX traded down $0.01 during midday trading on Monday, hitting $4.02. The stock had a trading volume of 319,784 shares, compared to its average volume of 651,145. ASE Technology has a fifty-two week low of $3.46 and a fifty-two week high of $8.00. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of 10.31 and a beta of 0.92. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 0.99.
ASE Technology (NYSE:ASX) last announced its earnings results on Wednesday, January 30th. The semiconductor company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). The firm had revenue of $3.70 billion during the quarter. ASE Technology had a return on equity of 11.81% and a net margin of 6.83%. Analysts anticipate that ASE Technology will post 0.35 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the stock. Financial Gravity Companies Inc. bought a new position in ASE Technology during the fourth quarter worth $35,000. Lindbrook Capital LLC acquired a new stake in shares of ASE Technology in the 4th quarter valued at $36,000. Graves Light Private Wealth Management Inc. acquired a new stake in shares of ASE Technology in the 4th quarter valued at $38,000. Ballentine Partners LLC acquired a new stake in shares of ASE Technology in the 4th quarter valued at $42,000. Finally, Navellier & Associates Inc boosted its stake in shares of ASE Technology by 90.1% in the 4th quarter. Navellier & Associates Inc now owns 13,704 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 6,496 shares in the last quarter. 5.39% of the stock is currently owned by institutional investors and hedge funds.
About ASE Technology
ASE Technology Holding Co, Ltd. provides a range of semiconductors packaging and testing, and electronic manufacturing services (EMS) in the United States, Taiwan, Asia, Europe, and internationally. The company offers packaging services, including flip-chip ball grid array (BGA), flip-chip chip scale package (fcCSP), advanced chip scale packages (aCSP), quad flat packages, thin quad flat packages, bump chip carrier and quad flat no-lead (QFN) packages, advanced QFN packages, plastic BGAs, high-band package on package, and 3D chip packages; stacked die solutions in various package types; and copper wire and silver bonding solutions, as well as module-based solutions.
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