ASE Technology (ASX) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of ASE Technology (NYSE:ASX) from a sell rating to a hold rating in a research report released on Monday, Zacks.com reports.

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 weighed in on ASX. Macquarie upgraded shares of ASE Technology from an underperform rating to a neutral rating in a research report on Thursday, May 2nd. ValuEngine upgraded shares of ASE Technology from a sell rating to a hold rating in a research report on Monday, February 4th. Finally, CLSA upgraded shares of ASE Technology to a buy rating in a research report on Tuesday, April 2nd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. ASE Technology currently has an average rating of Hold and an average price target of $17.38.

ASX opened at $4.30 on Monday. ASE Technology has a twelve month low of $3.46 and a twelve month high of $5.28. The company has a quick ratio of 0.94, a current ratio of 1.23 and a debt-to-equity ratio of 0.57. The firm has a market cap of $9.14 billion, a PE ratio of 11.03, a PEG ratio of 4.94 and a beta of 0.90.

A number of hedge funds and other institutional investors have recently modified their holdings of ASX. Credit Suisse AG boosted its stake in ASE Technology by 43.5% during the third quarter. Credit Suisse AG now owns 70,567 shares of the semiconductor company’s stock worth $341,000 after acquiring an additional 21,381 shares in the last quarter. LPL Financial LLC boosted its stake in ASE Technology by 88.4% during the third quarter. LPL Financial LLC now owns 33,572 shares of the semiconductor company’s stock worth $162,000 after acquiring an additional 15,757 shares in the last quarter. Vanguard Group Inc. boosted its stake in ASE Technology by 2.5% during the third quarter. Vanguard Group Inc. now owns 1,687,374 shares of the semiconductor company’s stock worth $8,150,000 after acquiring an additional 41,421 shares in the last quarter. Vanguard Group Inc boosted its stake in ASE Technology by 2.5% during the third quarter. Vanguard Group Inc now owns 1,687,374 shares of the semiconductor company’s stock worth $8,150,000 after acquiring an additional 41,421 shares in the last quarter. Finally, Navellier & Associates Inc boosted its stake in ASE Technology by 90.1% during the fourth quarter. Navellier & Associates Inc now owns 13,704 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 6,496 shares in the last quarter. 5.39% of the stock is currently owned by institutional investors and hedge funds.

ASE Technology Company Profile

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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