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ASE Technology Hldg (ASX) Outpaces Stock Market Gains: What You Should Know
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ASE Technology Hldg (ASX - Free Report) closed at $7.21 in the latest trading session, marking a +0.56% move from the prior day. This change outpaced the S&P 500's 0.28% gain on the day. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq gained 0.16%.
Coming into today, shares of the integrated circuit maker had lost 5.28% in the past month. In that same time, the Computer and Technology sector lost 10.69%, while the S&P 500 lost 5.39%.
Wall Street will be looking for positivity from ASE Technology Hldg as it approaches its next earnings report date.
Investors might also notice recent changes to analyst estimates for ASE Technology Hldg. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ASE Technology Hldg is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, ASE Technology Hldg is holding a Forward P/E ratio of 7.97. This represents a discount compared to its industry's average Forward P/E of 18.69.
We can also see that ASX currently has a PEG ratio of 0.3. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ASX's industry had an average PEG ratio of 1.54 as of yesterday's close.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 70, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ASX in the coming trading sessions, be sure to utilize Zacks.com.
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ASE Technology Hldg (ASX) Outpaces Stock Market Gains: What You Should Know
ASE Technology Hldg (ASX - Free Report) closed at $7.21 in the latest trading session, marking a +0.56% move from the prior day. This change outpaced the S&P 500's 0.28% gain on the day. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq gained 0.16%.
Coming into today, shares of the integrated circuit maker had lost 5.28% in the past month. In that same time, the Computer and Technology sector lost 10.69%, while the S&P 500 lost 5.39%.
Wall Street will be looking for positivity from ASE Technology Hldg as it approaches its next earnings report date.
Investors might also notice recent changes to analyst estimates for ASE Technology Hldg. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ASE Technology Hldg is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, ASE Technology Hldg is holding a Forward P/E ratio of 7.97. This represents a discount compared to its industry's average Forward P/E of 18.69.
We can also see that ASX currently has a PEG ratio of 0.3. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ASX's industry had an average PEG ratio of 1.54 as of yesterday's close.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 70, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ASX in the coming trading sessions, be sure to utilize Zacks.com.