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ASE Technology Hldg (ASX) Gains As Market Dips: What You Should Know
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ASE Technology Hldg (ASX - Free Report) closed at $7.11 in the latest trading session, marking a +0.85% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq added 1.39%.
Heading into today, shares of the integrated circuit maker had gained 11.2% over the past month, outpacing the Computer and Technology sector's gain of 3.75% and the S&P 500's gain of 4.01% in that time.
Investors will be hoping for strength from ASE Technology Hldg as it approaches its next earnings release. In that report, analysts expect ASE Technology Hldg to post earnings of $0.20 per share. This would mark a year-over-year decline of 60%.
It is also important to note the recent changes to analyst estimates for ASE Technology Hldg. These revisions help to show the ever-changing nature of near-term business trends. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.7% lower. ASE Technology Hldg is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, ASE Technology Hldg currently has a Forward P/E ratio of 9.04. This represents a discount compared to its industry's average Forward P/E of 17.12.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% 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) Gains As Market Dips: What You Should Know
ASE Technology Hldg (ASX - Free Report) closed at $7.11 in the latest trading session, marking a +0.85% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq added 1.39%.
Heading into today, shares of the integrated circuit maker had gained 11.2% over the past month, outpacing the Computer and Technology sector's gain of 3.75% and the S&P 500's gain of 4.01% in that time.
Investors will be hoping for strength from ASE Technology Hldg as it approaches its next earnings release. In that report, analysts expect ASE Technology Hldg to post earnings of $0.20 per share. This would mark a year-over-year decline of 60%.
It is also important to note the recent changes to analyst estimates for ASE Technology Hldg. These revisions help to show the ever-changing nature of near-term business trends. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.7% lower. ASE Technology Hldg is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, ASE Technology Hldg currently has a Forward P/E ratio of 9.04. This represents a discount compared to its industry's average Forward P/E of 17.12.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% 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.