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ASE Technology Hldg (ASX) Gains But Lags Market: What You Should Know
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In the latest trading session, ASE Technology Hldg (ASX - Free Report) closed at $7.47, marking a +1.08% move from the previous day. The stock lagged the S&P 500's daily gain of 1.62%. Meanwhile, the Dow gained 1.17%, and the Nasdaq, a tech-heavy index, added 12.91%.
Prior to today's trading, shares of the integrated circuit maker had lost 3.27% over the past month. This has was narrower than the Computer and Technology sector's loss of 6.64% and the S&P 500's loss of 4.54% in that time.
ASE Technology Hldg will be looking to display strength as it nears its next earnings release.
Investors should also note any recent changes to analyst estimates for ASE Technology Hldg. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.8% higher. ASE Technology Hldg is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, ASE Technology Hldg currently has a Forward P/E ratio of 9.01. For comparison, its industry has an average Forward P/E of 21.92, which means ASE Technology Hldg is trading at a discount to the group.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 159, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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 But Lags Market: What You Should Know
In the latest trading session, ASE Technology Hldg (ASX - Free Report) closed at $7.47, marking a +1.08% move from the previous day. The stock lagged the S&P 500's daily gain of 1.62%. Meanwhile, the Dow gained 1.17%, and the Nasdaq, a tech-heavy index, added 12.91%.
Prior to today's trading, shares of the integrated circuit maker had lost 3.27% over the past month. This has was narrower than the Computer and Technology sector's loss of 6.64% and the S&P 500's loss of 4.54% in that time.
ASE Technology Hldg will be looking to display strength as it nears its next earnings release.
Investors should also note any recent changes to analyst estimates for ASE Technology Hldg. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.8% higher. ASE Technology Hldg is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, ASE Technology Hldg currently has a Forward P/E ratio of 9.01. For comparison, its industry has an average Forward P/E of 21.92, which means ASE Technology Hldg is trading at a discount to the group.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 159, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.