ASE Technology (NYSE:ASX) Upgraded to "Buy" at UBS Group

ASE Technology (NYSE:ASX - Get Free Report) was upgraded by stock analysts at UBS Group from a "neutral" rating to a "buy" rating in a research report issued on Tuesday, Marketbeat.com reports.

Several other research firms have also recently issued reports on ASX. StockNews.com cut ASE Technology from a "buy" rating to a "hold" rating in a research note on Friday, September 20th. Morgan Stanley raised ASE Technology from an "equal weight" rating to an "overweight" rating in a report on Monday, September 16th.

ASE Technology Stock Performance

Shares of NYSE ASX traded up $0.05 during trading on Tuesday, reaching $10.21. 12,720,703 shares of the stock traded hands, compared to its average volume of 6,867,992. ASE Technology has a 52-week low of $7.33 and a 52-week high of $12.86. The stock has a market capitalization of $22.38 billion, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 0.65 and a beta of 1.22. 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 50-day moving average of $9.71 and a 200-day moving average of $10.47.

ASE Technology (NYSE:ASX - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. ASE Technology had a return on equity of 9.90% and a net margin of 5.38%. The firm had revenue of $4.33 billion for the quarter. During the same period in the previous year, the business earned $0.12 EPS. Analysts forecast that ASE Technology will post 0.51 EPS for the current fiscal year.

Hedge Funds Weigh In On ASE Technology

Hedge funds have recently modified their holdings of the stock. Creative Planning boosted its holdings in shares of ASE Technology by 93.2% in the 3rd quarter. Creative Planning now owns 234,004 shares of the semiconductor company's stock worth $2,277,000 after purchasing an additional 112,879 shares during the period. First Affirmative Financial Network boosted its position in ASE Technology by 13.7% during the 3rd quarter. First Affirmative Financial Network now owns 15,330 shares of the semiconductor company's stock valued at $150,000 after acquiring an additional 1,851 shares in the last quarter. CWM LLC raised its position in shares of ASE Technology by 18.5% in the 3rd quarter. CWM LLC now owns 19,583 shares of the semiconductor company's stock worth $191,000 after acquiring an additional 3,061 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in ASE Technology during the second quarter valued at about $1,901,000. Finally, Driehaus Capital Management LLC grew its stake in ASE Technology by 105.3% in the second quarter. Driehaus Capital Management LLC now owns 982,028 shares of the semiconductor company's stock valued at $11,215,000 after purchasing an additional 503,765 shares during the last quarter. Hedge funds and other institutional investors 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.