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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 $7.61 in the latest trading session, marking a +0.66% move from the prior day. This change outpaced the S&P 500's 0.16% loss on the day. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 3.64%.
Heading into today, shares of the integrated circuit maker had gained 5.73% over the past month, lagging the Computer and Technology sector's gain of 6.7% and outpacing the S&P 500's gain of 0.07% in that time.
Wall Street will be looking for positivity from ASE Technology Hldg as it approaches its next earnings report date.
It is also important to note the recent changes to analyst estimates for ASE Technology Hldg. Recent revisions tend to reflect the latest 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ASE Technology Hldg is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note ASE Technology Hldg's current valuation metrics, including its Forward P/E ratio of 9.22. For comparison, its industry has an average Forward P/E of 19.08, 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 industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% 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.
You can find more information on all of these metrics, and much more, on 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 $7.61 in the latest trading session, marking a +0.66% move from the prior day. This change outpaced the S&P 500's 0.16% loss on the day. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 3.64%.
Heading into today, shares of the integrated circuit maker had gained 5.73% over the past month, lagging the Computer and Technology sector's gain of 6.7% and outpacing the S&P 500's gain of 0.07% in that time.
Wall Street will be looking for positivity from ASE Technology Hldg as it approaches its next earnings report date.
It is also important to note the recent changes to analyst estimates for ASE Technology Hldg. Recent revisions tend to reflect the latest 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ASE Technology Hldg is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note ASE Technology Hldg's current valuation metrics, including its Forward P/E ratio of 9.22. For comparison, its industry has an average Forward P/E of 19.08, 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 industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.