ASE Technology (NYSE:ASX) Upgraded to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of ASE Technology (NYSE:ASX) from an equal weight rating to an overweight rating in a research note published on Monday morning, Marketbeat reports.

Separately, StockNews.com raised shares of ASE Technology from a hold rating to a buy rating in a research report on Thursday, September 12th.

ASE Technology Trading Up 1.4 %

ASX opened at $9.80 on Monday. The business has a fifty day moving average price of $10.10 and a 200 day moving average price of $10.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.17 and a quick ratio of 0.90. ASE Technology has a 12 month low of $7.25 and a 12 month high of $12.86. The stock has a market capitalization of $21.48 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 0.63 and a beta of 1.22.

ASE Technology (NYSE:ASX) last announced its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. ASE Technology had a return on equity of 9.90% and a net margin of 5.38%. The business had revenue of $4.33 billion during the quarter. During the same period in the prior year, the firm posted $0.12 earnings per share. Sell-side analysts expect that ASE Technology will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ASE Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC purchased a new position in ASE Technology in the second quarter valued at approximately $1,901,000. Creative Planning boosted its holdings in shares of ASE Technology by 376.7% in the 2nd quarter. Creative Planning now owns 121,125 shares of the semiconductor company’s stock valued at $1,383,000 after buying an additional 95,714 shares in the last quarter. Driehaus Capital Management LLC grew its position in shares of ASE Technology by 105.3% in the 2nd quarter. Driehaus Capital Management LLC now owns 982,028 shares of the semiconductor company’s stock valued at $11,215,000 after buying an additional 503,765 shares during the last quarter. Earnest Partners LLC raised its stake in ASE Technology by 10.4% during the 2nd quarter. Earnest Partners LLC now owns 2,840,090 shares of the semiconductor company’s stock worth $32,434,000 after acquiring an additional 266,991 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in ASE Technology by 528.5% in the second quarter. Squarepoint Ops LLC now owns 478,766 shares of the semiconductor company’s stock valued at $5,468,000 after acquiring an additional 402,585 shares during the last quarter. Institutional investors and hedge funds own 6.80% of the company’s stock.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd., together with its subsidiaries, provides semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, Asia, Europe, and internationally. It develops, constructs, sells, leases, and manages real estate properties; produces substrates; offers information software, equipment leasing, investment advisory, and warehousing management services; commercial complex, after-sales, and support services; manages parking lot services; processes and sells computer and communication peripherals, electronic components, telecommunications equipment, and motherboards; and imports and exports goods and technology.