ASE Technology Hldg (ASX) closed at $7.94 in the latest trading session, marking a -1.49% move from the prior day. This change lagged the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 0.59%, while the tech-heavy Nasdaq lost 1.54%.
Prior to today's trading, shares of the integrated circuit maker had gained 13.36% over the past month. This has outpaced the Computer and Technology sector's gain of 12.17% and the S&P 500's gain of 4.14% in that time.
Wall Street will be looking for positivity from ASE Technology Hldg as it approaches its next earnings report date.
Any recent changes to analyst estimates for ASE Technology Hldg should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ASE Technology Hldg is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that ASE Technology Hldg has a Forward P/E ratio of 12.59 right now. This valuation marks a discount compared to its industry's average Forward P/E of 19.7.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 194, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.