For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is ASE Technology Holding Co. (ASX) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
ASE Technology Holding Co. is one of 625 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. ASX is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ASX's full-year earnings has moved 33.33% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ASX has returned about 26.54% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 2.03% on a year-to-date basis. As we can see, ASE Technology Holding Co. is performing better than its sector in the calendar year.
Looking more specifically, ASX belongs to the Electronics - Semiconductors industry, which includes 37 individual stocks and currently sits at #77 in the Zacks Industry Rank. On average, this group has gained an average of 0.31% so far this year, meaning that ASX is performing better in terms of year-to-date returns.
ASX will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.
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ASE Technology Holding Co., Ltd. (ASX) : Free Stock Analysis Report
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