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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? One simple way to answer this question is to take a look at the year-to-date performance of ASX and the rest of the Computer and Technology group's stocks.
ASE Technology Holding Co. is one of 620 companies in the Computer and Technology group. The Computer and Technology group currently sits at #10 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. ASX is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ASX's full-year earnings has moved 17.54% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ASX has returned 30.99% so far this year. At the same time, Computer and Technology stocks have gained an average of 7.70%. This means that ASE Technology Holding Co. is performing better than its sector in terms of year-to-date returns.
Looking more specifically, ASX belongs to the Electronics - Semiconductors industry, a group that includes 35 individual stocks and currently sits at #92 in the Zacks Industry Rank. This group has lost an average of 4.51% so far this year, so ASX is performing better in this area.
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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