ASE Technology Holding Co., Ltd. (NYSE:ASX) Given Average Rating of “Hold” by Brokerages

Shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) have received an average rating of "Hold" from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $8.43.

A number of brokerages recently issued reports on ASX. JPMorgan Chase & Co. lowered ASE Technology from an "overweight" rating to a "neutral" rating in a report on Wednesday, December 8th. Zacks Investment Research upgraded ASE Technology from a "hold" rating to a "buy" rating and set a $8.75 target price for the company in a report on Tuesday, December 28th. KGI Securities lowered ASE Technology from an "outperform" rating to a "neutral" rating in a report on Thursday, October 28th. Finally, The Goldman Sachs Group lowered ASE Technology from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $13.30 to $8.10 in a report on Thursday, October 7th.

ASX stock opened at $7.81 on Friday. The stock has a market cap of $17.12 billion, a P/E ratio of 11.32, a P/E/G ratio of 0.37 and a beta of 1.03. ASE Technology has a 1-year low of $5.80 and a 1-year high of $9.62. The company has a current ratio of 1.35, a quick ratio of 0.95 and a debt-to-equity ratio of 0.74. The stock's fifty day simple moving average is $7.47 and its two-hundred day simple moving average is $8.04.

ASE Technology (NYSE:ASX) last announced its quarterly earnings data on Thursday, October 28th. The semiconductor company reported $0.23 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.21 by $0.02. ASE Technology had a return on equity of 17.49% and a net margin of 7.91%. The business had revenue of $5.41 billion for the quarter. As a group, analysts forecast that ASE Technology will post 0.76 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. UBS Group AG lifted its stake in ASE Technology by 457.0% in the 3rd quarter. UBS Group AG now owns 15,875,889 shares of the semiconductor company's stock valued at $124,625,000 after buying an additional 13,025,689 shares in the last quarter. Lazard Asset Management LLC lifted its stake in ASE Technology by 48.9% in the 2nd quarter. Lazard Asset Management LLC now owns 14,325,924 shares of the semiconductor company's stock valued at $115,322,000 after buying an additional 4,704,367 shares in the last quarter. BlackRock Inc. lifted its stake in ASE Technology by 286.5% in the 2nd quarter. BlackRock Inc. now owns 6,161,922 shares of the semiconductor company's stock valued at $49,603,000 after buying an additional 4,567,552 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in ASE Technology by 162.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 6,651,370 shares of the semiconductor company's stock valued at $52,213,000 after buying an additional 4,121,788 shares in the last quarter. Finally, Citigroup Inc. lifted its stake in ASE Technology by 143.8% in the 3rd quarter. Citigroup Inc. now owns 3,038,543 shares of the semiconductor company's stock valued at $23,852,000 after buying an additional 1,792,248 shares in the last quarter. 5.18% of the stock is currently owned by institutional investors and hedge funds.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd. engages in the provision of semiconductor manufacturing services. It develops and offers complete turnkey solutions in IC (Integrated Circuit) packaging, design and production of interconnect materials, front-end engineering testing, wafer probing and final testing, as well as electronic manufacturing services.

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