ASE Technology Hldg (ASX) Gains As Market Dips: What You Should Know
ASE Technology Hldg (ASX) closed at $7.60 in the latest trading session, marking a +0.93% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.65%. At the same time, the Dow lost 1.63%, and the tech-heavy Nasdaq lost 6.65%.
Coming into today, shares of the integrated circuit maker had gained 8.5% in the past month. In that same time, the Computer and Technology sector gained 7.03%, while the S&P 500 gained 0.3%.
Wall Street will be looking for positivity from ASE Technology Hldg as it approaches its next earnings report date.
Investors might also notice recent changes to analyst estimates for ASE Technology Hldg. These recent revisions tend to reflect the evolving nature of short-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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ASE Technology Hldg currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note ASE Technology Hldg's current valuation metrics, including its Forward P/E ratio of 9.18. Its industry sports an average Forward P/E of 18.85, 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 industry currently has a Zacks Industry Rank of 97, 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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ASE Technology Holding Co., Ltd. (ASX) : Free Stock Analysis Report
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