ASE Technology (ASX) Upgraded by Macquarie to “Neutral”

ASE Technology (NYSE:ASX) was upgraded by equities research analysts at Macquarie from an “underperform” rating to a “neutral” rating in a report released on Thursday, The Fly reports.

Other equities analysts also recently issued reports about the company. Zacks Investment Research downgraded ASE Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. ValuEngine upgraded ASE Technology from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Finally, CLSA upgraded ASE Technology to a “buy” rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $4.75.

NYSE ASX opened at $4.60 on Thursday. ASE Technology has a twelve month low of $3.46 and a twelve month high of $5.42. The stock has a market cap of $9.83 billion, a P/E ratio of 11.79 and a beta of 0.90. The company has a current ratio of 1.29, a quick ratio of 0.99 and a debt-to-equity ratio of 0.65.

ASE Technology (NYSE:ASX) last released its earnings results on Wednesday, January 30th. The semiconductor company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.01). ASE Technology had a return on equity of 11.80% and a net margin of 6.44%. The business had revenue of $3.70 billion for the quarter. On average, equities analysts anticipate that ASE Technology will post 0.35 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASX. Parallel Advisors LLC raised its holdings in shares of ASE Technology by 4,976.1% in the 1st quarter. Parallel Advisors LLC now owns 7,868 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 7,713 shares during the period. Financial Gravity Companies Inc. purchased a new position in shares of ASE Technology in the 4th quarter worth about $35,000. Lindbrook Capital LLC purchased a new position in shares of ASE Technology in the 4th quarter worth about $36,000. BNP Paribas Arbitrage SA raised its holdings in shares of ASE Technology by 180.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,298 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 5,337 shares during the period. Finally, Graves Light Private Wealth Management Inc. purchased a new position in shares of ASE Technology in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 5.36% 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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