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ASE Technology Hldg (ASX) Stock Sinks As Market Gains: What You Should Know
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ASE Technology Hldg (ASX - Free Report) closed at $7.92 in the latest trading session, marking a -0.63% move from the prior day. This change lagged the S&P 500's 0.37% gain on the day. Meanwhile, the Dow gained 0.98%, and the Nasdaq, a tech-heavy index, added 0.62%.
Heading into today, shares of the integrated circuit maker had gained 6.69% over the past month, lagging the Computer and Technology sector's gain of 10.71% and outpacing the S&P 500's gain of 3.71% 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 $0.24 per share. This would mark year-over-year growth of 14.29%.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. ASE Technology Hldg is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, ASE Technology Hldg is currently trading at a Forward P/E ratio of 9.72. Its industry sports an average Forward P/E of 20.2, so we one might conclude that ASE Technology Hldg is trading at a discount comparatively.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 93, putting it in the top 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) Stock Sinks As Market Gains: What You Should Know
ASE Technology Hldg (ASX - Free Report) closed at $7.92 in the latest trading session, marking a -0.63% move from the prior day. This change lagged the S&P 500's 0.37% gain on the day. Meanwhile, the Dow gained 0.98%, and the Nasdaq, a tech-heavy index, added 0.62%.
Heading into today, shares of the integrated circuit maker had gained 6.69% over the past month, lagging the Computer and Technology sector's gain of 10.71% and outpacing the S&P 500's gain of 3.71% 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 $0.24 per share. This would mark year-over-year growth of 14.29%.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. ASE Technology Hldg is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, ASE Technology Hldg is currently trading at a Forward P/E ratio of 9.72. Its industry sports an average Forward P/E of 20.2, so we one might conclude that ASE Technology Hldg is trading at a discount comparatively.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 93, putting it in the top 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.