ASE Technology Hldg (ASX - Free Report) closed the most recent trading day at $3.32, moving -1.48% from the previous trading session. This change lagged the S&P 500's 0.47% gain on the day. Meanwhile, the Dow gained 0.95%, and the Nasdaq, a tech-heavy index, added 2.3%.
Coming into today, shares of the integrated circuit maker had lost 33.4% in the past month. In that same time, the Computer and Technology sector lost 28.18%, while the S&P 500 lost 28.7%.
Wall Street will be looking for positivity from ASX as it approaches its next earnings report date.
Any recent changes to analyst estimates for ASX should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. ASX is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, ASX currently has a Forward P/E ratio of 9.36. This valuation marks a discount compared to its industry's average Forward P/E of 12.55.
It is also worth noting that ASX currently has a PEG ratio of 3.09. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Electronics - Semiconductors stocks are, on average, holding a PEG ratio of 1.44 based on yesterday's closing prices.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 42, which puts it in the top 17% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.