In the latest trading session, ASE Technology Hldg (ASX) closed at $7.38, marking a +0.27% move from the previous day. This change lagged the S&P 500's 0.33% gain on the day. At the same time, the Dow added 0.3%, and the tech-heavy Nasdaq gained 1.92%.
Prior to today's trading, shares of the integrated circuit maker had lost 1.34% over the past month. This has lagged the Computer and Technology sector's gain of 7.45% and the S&P 500's gain of 5.67% in that time.
ASE Technology Hldg will be looking to display strength as it nears its next earnings release.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ASE Technology Hldg currently has a Zacks Rank of #3 (Hold).
In terms of valuation, ASE Technology Hldg is currently trading at a Forward P/E ratio of 8.98. This represents 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 group has a Zacks Industry Rank of 75, putting it in the top 30% 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.
To follow ASX in the coming trading sessions, be sure to utilize Zacks.com.
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