Yahoo Finance ASE Technology Hldg (ASX) Dips More Than Broader Markets: What You Should Know
ASE Technology Hldg (ASX) closed at $7.39 in the latest trading session, marking a -0.67% move from the prior day. This change lagged the S&P 500's daily loss of 0.07%. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq lost 3.22%.
Coming into today, shares of the integrated circuit maker had gained 17.35% in the past month. In that same time, the Computer and Technology sector gained 11.67%, while the S&P 500 gained 4.64%.
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%.
Investors might also notice recent changes to analyst estimates for ASE Technology Hldg. 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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.7% lower. ASE Technology Hldg is currently a Zacks Rank #4 (Sell).
In terms of valuation, ASE Technology Hldg is currently trading at a Forward P/E ratio of 9.54. Its industry sports an average Forward P/E of 17.26, so we one might conclude that ASE Technology Hldg is trading at a discount comparatively.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 33% 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
