ASE Technology (NYSE:ASX) Stock Rating Upgraded by Morgan Stanley

ASE Technology (NYSE:ASX) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Monday, MarketBeat reports.

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

ASE Technology Price Performance

Shares of NYSE ASX opened at $9.76 on Monday. ASE Technology has a 1-year low of $7.25 and a 1-year high of $12.86. The business has a 50-day moving average of $10.06 and a 200-day moving average 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. The company has a market capitalization of $21.40 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 0.63 and a beta of 1.22.

ASE Technology (NYSE:ASX) last issued its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. The firm had revenue of $4.33 billion during the quarter. ASE Technology had a return on equity of 9.90% and a net margin of 5.38%. During the same period in the prior year, the company posted $0.12 EPS. On average, equities analysts anticipate that ASE Technology will post 0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its stake in ASE Technology by 82.3% during the fourth quarter. Russell Investments Group Ltd. now owns 11,680 shares of the semiconductor company’s stock valued at $110,000 after buying an additional 5,272 shares in the last quarter. Principal Securities Inc. acquired a new stake in ASE Technology during the fourth quarter valued at approximately $41,000. Panagora Asset Management Inc. raised its stake in ASE Technology by 28.9% during the fourth quarter. Panagora Asset Management Inc. now owns 36,267 shares of the semiconductor company’s stock valued at $341,000 after buying an additional 8,136 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in ASE Technology by 36.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 11,583 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 3,103 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its stake in ASE Technology by 94.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 162,378 shares of the semiconductor company’s stock valued at $1,429,000 after buying an additional 78,951 shares in the last quarter. Hedge funds and other institutional investors own 6.80% of the company’s stock.

About ASE Technology

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.