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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 $7.01 in the latest trading session, marking a -1.41% move from the prior day. This change lagged the S&P 500's daily gain of 0.09%. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, added 0.98%.
Heading into today, shares of the integrated circuit maker had lost 8.49% over the past month, lagging the Computer and Technology sector's gain of 2.75% and the S&P 500's gain of 4.59% 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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 currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, ASE Technology Hldg is holding a Forward P/E ratio of 8.67. Its industry sports an average Forward P/E of 20.93, 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 92, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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) Stock Sinks As Market Gains: What You Should Know
ASE Technology Hldg (ASX - Free Report) closed at $7.01 in the latest trading session, marking a -1.41% move from the prior day. This change lagged the S&P 500's daily gain of 0.09%. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, added 0.98%.
Heading into today, shares of the integrated circuit maker had lost 8.49% over the past month, lagging the Computer and Technology sector's gain of 2.75% and the S&P 500's gain of 4.59% 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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 currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, ASE Technology Hldg is holding a Forward P/E ratio of 8.67. Its industry sports an average Forward P/E of 20.93, 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 92, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.