ASE Technology (NYSE:ASX) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of ASE Technology (NYSE:ASX) from a hold rating to a buy rating in a report published on Thursday.

Separately, Morgan Stanley cut ASE Technology from an overweight rating to an equal weight rating in a research note on Tuesday, June 25th.

ASE Technology Stock Down 0.6 %

Shares of NYSE:ASX opened at $9.95 on Thursday. The company has a 50 day moving average price of $10.83 and a two-hundred day moving average price of $10.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.90 and a current ratio of 1.17. The company has a market capitalization of $21.81 billion, a PE ratio of 21.63, a PEG ratio of 0.63 and a beta of 1.21. ASE Technology has a 52 week low of $7.20 and a 52 week high of $12.86.

ASE Technology (NYSE:ASX) last issued its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.11 EPS for the quarter, hitting the consensus estimate 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 for the quarter. During the same period in the previous year, the business posted $0.12 EPS. Analysts forecast that ASE Technology will post 0.51 earnings per share for the current year.

ASE Technology Cuts Dividend

The business also recently announced an annual dividend, which was paid on Friday, August 2nd. Investors of record on Tuesday, July 2nd were paid a $0.3209 dividend. This represents a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, July 2nd. ASE Technology’s payout ratio is presently 50.00%.

Institutional Trading of ASE Technology

Several hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning boosted its position in shares of ASE Technology by 376.7% during the second quarter. Creative Planning now owns 121,125 shares of the semiconductor company’s stock worth $1,383,000 after buying an additional 95,714 shares during the period. Driehaus Capital Management LLC boosted its position in ASE Technology by 105.3% during the 2nd quarter. Driehaus Capital Management LLC now owns 982,028 shares of the semiconductor company’s stock worth $11,215,000 after acquiring an additional 503,765 shares during the last quarter. Earnest Partners LLC grew its stake in shares of 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. Squarepoint Ops LLC raised its holdings in shares of 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 purchasing an additional 402,585 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of ASE Technology in the second quarter worth $741,000. Institutional investors and hedge funds 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.