ValuEngine Upgrades ASE Technology (NYSE:ASX) to “Hold”

ASE Technology (NYSE:ASX) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Friday, ValuEngine reports.

Several other research firms have also issued reports on ASX. CLSA upgraded ASE Technology to a “buy” rating in a research report on Tuesday, April 2nd. Cowen raised their price target on WestJet Airlines from C$22.00 to C$31.00 in a research report on Tuesday, May 14th. Macquarie lowered Janus Henderson Group from an “outperform” rating to a “neutral” rating in a research report on Thursday, May 2nd. Finally, Zacks Investment Research upgraded Hanmi Financial from a “sell” rating to a “hold” rating in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $17.38.

ASX opened at $4.29 on Friday. The stock’s 50 day moving average is $3.86. The company has a current ratio of 1.23, a quick ratio of 0.94 and a debt-to-equity ratio of 0.57. ASE Technology has a 1 year low of $3.46 and a 1 year high of $5.19. The company has a market cap of $9.27 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 5.02 and a beta of 1.03.

ASE Technology (NYSE:ASX) last posted its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.03 earnings per share (EPS) for the quarter. ASE Technology had a return on equity of 11.68% and a net margin of 6.44%. The business had revenue of $2.88 billion for the quarter. On average, equities research analysts anticipate that ASE Technology will post 0.28 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of ASX. D. E. Shaw & Co. Inc. grew its position in shares of ASE Technology by 276.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 660,824 shares of the semiconductor company’s stock worth $2,478,000 after buying an additional 485,466 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of ASE Technology by 38.0% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 1,725,764 shares of the semiconductor company’s stock worth $7,439,000 after buying an additional 475,130 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of ASE Technology by 67.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,060,410 shares of the semiconductor company’s stock worth $4,570,000 after buying an additional 425,316 shares during the last quarter. Nomura Holdings Inc. grew its position in shares of ASE Technology by 47.1% in the 4th quarter. Nomura Holdings Inc. now owns 681,218 shares of the semiconductor company’s stock worth $2,554,000 after buying an additional 218,072 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in shares of ASE Technology by 366.9% in the 4th quarter. Two Sigma Investments LP now owns 216,965 shares of the semiconductor company’s stock worth $814,000 after buying an additional 170,499 shares during the last quarter. Hedge funds and other institutional investors own 5.51% of the company’s stock.

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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