ASE Technology (ASX) Raised to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of ASE Technology (NYSE:ASX) from a sell rating to a hold rating in a research report report published 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. “

ASX has been the topic of a number of other research reports. CLSA raised shares of ASE Technology to a buy rating in a research note on Tuesday, April 2nd. ValuEngine raised shares of ASE Technology from a sell rating to a hold rating in a research note on Monday, February 4th. Finally, Macquarie raised shares of ASE Technology from an underperform rating to a neutral rating in a research note on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. ASE Technology has an average rating of Hold and an average price target of $17.38.

NYSE ASX opened at $4.33 on Monday. The stock has a market capitalization of $9.14 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 4.94 and a beta of 0.90. ASE Technology has a twelve month low of $3.46 and a twelve month high of $5.32. The company has a current ratio of 1.23, a quick ratio of 0.94 and a debt-to-equity ratio of 0.57.

A number of institutional investors have recently modified their holdings of ASX. Parallel Advisors LLC grew its stake in ASE Technology by 4,976.1% during the first quarter. Parallel Advisors LLC now owns 7,868 shares of the semiconductor company’s stock worth $34,000 after buying an additional 7,713 shares during the last quarter. Financial Gravity Companies Inc. bought a new stake in ASE Technology during the fourth quarter worth about $35,000. Lindbrook Capital LLC bought a new stake in ASE Technology during the fourth quarter worth about $36,000. BNP Paribas Arbitrage SA grew its stake in ASE Technology by 180.2% during the first quarter. BNP Paribas Arbitrage SA now owns 8,298 shares of the semiconductor company’s stock worth $36,000 after buying an additional 5,337 shares during the last quarter. Finally, Graves Light Private Wealth Management Inc. bought a new stake in ASE Technology during the fourth quarter worth about $38,000. 5.39% of the stock is currently owned by hedge funds and other institutional investors.

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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