Zacks Investment Research upgraded shares of ASE Technology (NYSE:ASX) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.
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. “
Several other equities research analysts have also recently commented on the company. Macquarie cut ASE Technology from a neutral rating to an underperform rating in a research report on Wednesday, January 2nd. ValuEngine raised ASE Technology from a sell rating to a hold rating in a report on Monday, February 4th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company has a consensus rating of Hold and a consensus price target of $4.25.
ASE Technology stock opened at $4.02 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.99 and a current ratio of 1.29. ASE Technology has a one year low of $3.46 and a one year high of $8.00. The firm has a market cap of $8.40 billion, a P/E ratio of 9.97 and a beta of 0.92.
ASE Technology (NYSE:ASX) last released its quarterly earnings data on Wednesday, January 30th. The semiconductor company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). ASE Technology had a net margin of 6.83% and a return on equity of 11.81%. The business had revenue of $3.70 billion for the quarter. As a group, equities analysts anticipate that ASE Technology will post 0.35 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the business. Financial Gravity Companies Inc. bought a new position in ASE Technology in the fourth quarter valued at about $35,000. Lindbrook Capital LLC bought a new position in ASE Technology in the fourth quarter valued at about $36,000. Graves Light Private Wealth Management Inc. bought a new position in ASE Technology in the fourth quarter valued at about $38,000. Ballentine Partners LLC bought a new position in ASE Technology in the fourth quarter valued at about $42,000. Finally, Navellier & Associates Inc lifted its holdings in ASE Technology by 90.1% in the fourth quarter. Navellier & Associates Inc now owns 13,704 shares of the semiconductor company’s stock valued at $51,000 after acquiring an additional 6,496 shares during the period. 5.39% of the stock is currently owned by institutional investors.
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.
Recommended Story: Insider Trading
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ASE Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ASE Technology and related companies with MarketBeat.com's FREE daily email newsletter.