ASE Technology Hldg (ASX) closed the most recent trading day at $8.38, moving -0.71% from the previous trading session. This change lagged the S&P 500's daily gain of 0.02%.
Coming into today, shares of the integrated circuit maker had gained 9.04% in the past month. In that same time, the Computer and Technology sector gained 2.08%, while the S&P 500 gained 0.04%.
Investors will be hoping for strength from ASX as it approaches its next earnings release.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection remained stagnant. ASX currently has a Zacks Rank of #3 (Hold).
Investors should also note ASX's current valuation metrics, including its Forward P/E ratio of 12.6. This represents a discount compared to its industry's average Forward P/E of 17.69.
Meanwhile, ASX's PEG ratio is currently 0.84. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Electronics - Semiconductors was holding an average PEG ratio of 1.63 at yesterday's closing price.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% 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.
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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