U.S. markets closed
  • S&P 500

    4,538.43
    -38.67 (-0.84%)
     
  • Dow 30

    34,580.08
    -59.72 (-0.17%)
     
  • Nasdaq

    15,085.47
    -295.83 (-1.92%)
     
  • Russell 2000

    2,159.31
    -47.02 (-2.13%)
     
  • Crude Oil

    66.26
    -0.24 (-0.36%)
     
  • Gold

    1,783.90
    +21.20 (+1.20%)
     
  • Silver

    22.48
    +0.17 (+0.74%)
     
  • EUR/USD

    1.1317
    +0.0012 (+0.10%)
     
  • 10-Yr Bond

    1.3430
    -0.1050 (-7.25%)
     
  • GBP/USD

    1.3235
    -0.0067 (-0.50%)
     
  • USD/JPY

    112.8000
    -0.4090 (-0.36%)
     
  • BTC-USD

    49,227.78
    +637.41 (+1.31%)
     
  • CMC Crypto 200

    1,367.14
    -74.62 (-5.18%)
     
  • FTSE 100

    7,122.32
    -6.89 (-0.10%)
     
  • Nikkei 225

    28,029.57
    +276.20 (+1.00%)
     

ASE Technology Hldg (ASX) Dips More Than Broader Markets: What You Should Know

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

In the latest trading session, ASE Technology Hldg (ASX) closed at $8.40, marking a -1.29% move from the previous day. This move lagged the S&P 500's daily loss of 0.02%.

Coming into today, shares of the integrated circuit maker had gained 12.12% in the past month. In that same time, the Computer and Technology sector gained 10.8%, while the S&P 500 gained 5.48%.

Investors will be hoping for strength from ASX as it approaches its next earnings release. The company is expected to report EPS of $0.12, up 100% from the prior-year quarter.

Investors should also note any recent changes to analyst estimates for ASX. These revisions help to show the ever-changing nature of near-term business trends. 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.

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. ASX currently has a Zacks Rank of #2 (Buy).

Investors should also note ASX's current valuation metrics, including its Forward P/E ratio of 14.18. This valuation marks a discount compared to its industry's average Forward P/E of 20.66.

It is also worth noting that ASX currently has a PEG ratio of 0.95. 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. The Electronics - Semiconductors industry currently had an average PEG ratio of 1.92 as of yesterday's close.

The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 111, which puts it in the top 44% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
ASE Technology Holding Co., Ltd. (ASX) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.