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Is ASE Technology (ASX) Stock Undervalued Right Now?
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Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.
In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.
One stock to keep an eye on is ASE Technology (ASX - Free Report) . ASX is currently sporting a Zacks Rank of #1 (Strong Buy), as well as a Value grade of A. The stock has a Forward P/E ratio of 7.47. This compares to its industry's average Forward P/E of 16.33. ASX's Forward P/E has been as high as 10.48 and as low as 5.15, with a median of 7.45, all within the past year.
Investors will also notice that ASX has a PEG ratio of 0.32. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ASX's PEG compares to its industry's average PEG of 0.73. Over the past 52 weeks, ASX's PEG has been as high as 0.39 and as low as 0.21, with a median of 0.29.
These figures are just a handful of the metrics value investors tend to look at, but they help show that ASE Technology is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, ASX feels like a great value stock at the moment.
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Is ASE Technology (ASX) Stock Undervalued Right Now?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.
In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.
One stock to keep an eye on is ASE Technology (ASX - Free Report) . ASX is currently sporting a Zacks Rank of #1 (Strong Buy), as well as a Value grade of A. The stock has a Forward P/E ratio of 7.47. This compares to its industry's average Forward P/E of 16.33. ASX's Forward P/E has been as high as 10.48 and as low as 5.15, with a median of 7.45, all within the past year.
Investors will also notice that ASX has a PEG ratio of 0.32. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ASX's PEG compares to its industry's average PEG of 0.73. Over the past 52 weeks, ASX's PEG has been as high as 0.39 and as low as 0.21, with a median of 0.29.
These figures are just a handful of the metrics value investors tend to look at, but they help show that ASE Technology is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, ASX feels like a great value stock at the moment.