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Investors focused on the Computer and Technology space have likely heard of ASE Technology Holding Co. (ASX), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
ASE Technology Holding Co. is a member of our Computer and Technology group, which includes 618 different companies and currently sits at #13 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. ASX is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ASX's full-year earnings has moved 11.67% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, ASX has returned 43.84% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 17.92% 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, a group that includes 35 individual stocks and currently sits at #86 in the Zacks Industry Rank. On average, stocks in this group have gained 5.73% this year, meaning that ASX is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on ASX as it attempts to continue its solid performance.
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