ASE Technology (NYSE:ASX) Lifted 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 report sent to investors on Monday, Marketbeat.com reports.

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

ASE Technology Stock Performance

Shares of NYSE ASX opened at $10.02 on Monday. The company has a current ratio of 1.17, a quick ratio of 0.90 and a debt-to-equity ratio of 0.33. The company has a 50 day simple moving average of $9.92 and a two-hundred day simple moving average of $10.60. ASE Technology has a 12 month low of $7.25 and a 12 month high of $12.86. The stock has a market cap of $21.97 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 0.63 and a beta of 1.22.

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

Institutional Trading of ASE Technology

A number of hedge funds and other institutional investors have recently modified their holdings of ASX. Acadian Asset Management LLC raised its holdings in ASE Technology by 89.7% in the 1st quarter. Acadian Asset Management LLC now owns 9,861,612 shares of the semiconductor company’s stock valued at $108,364,000 after buying an additional 4,664,258 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of ASE Technology by 35.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,884,868 shares of the semiconductor company’s stock worth $36,557,000 after purchasing an additional 1,009,795 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of ASE Technology by 2.8% in the 1st quarter. Lazard Asset Management LLC now owns 21,308,753 shares of the semiconductor company’s stock valued at $234,182,000 after acquiring an additional 584,333 shares during the last quarter. Driehaus Capital Management LLC increased 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. Finally, Squarepoint Ops LLC grew its position in shares of ASE Technology by 528.5% in the 2nd quarter. Squarepoint Ops LLC now owns 478,766 shares of the semiconductor company’s stock valued at $5,468,000 after buying an additional 402,585 shares during the last quarter. 6.80% of the stock is owned by institutional investors and hedge funds.

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.