ASE Technology Hldg (ASX) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, ASE Technology Hldg (ASX) closed at $6.97, marking a +1.31% move from the previous day. This change outpaced the S&P 500's 0.7% gain on the day. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq added 7.5%.
Heading into today, shares of the integrated circuit maker had gained 1.78% over the past month, outpacing the Computer and Technology sector's loss of 2.78% and the S&P 500's loss of 0.94% in that time.
Investors will be hoping for strength from ASE Technology Hldg as it approaches its next earnings release. On that day, ASE Technology Hldg is projected to report earnings of $0.20 per share, which would represent a year-over-year decline of 60%.
It is also important to note the recent changes to analyst estimates for ASE Technology Hldg. Recent revisions tend to reflect the latest 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.7% lower within the past month. ASE Technology Hldg is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, ASE Technology Hldg currently has a Forward P/E ratio of 8.82. This represents a discount compared to its industry's average Forward P/E of 17.27.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow ASX in the coming trading sessions, be sure to utilize Zacks.com.
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ASE Technology Holding Co., Ltd. (ASX) : Free Stock Analysis Report
