ASE Technology Hldg (ASX) closed the most recent trading day at $5.55, moving -0.54% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.13%. Meanwhile, the Dow lost 1.01%, and the Nasdaq, a tech-heavy index, lost 0.14%.
Coming into today, shares of the integrated circuit maker had lost 4.78% in the past month. In that same time, the Computer and Technology sector lost 11.27%, while the S&P 500 lost 7.59%.
Investors will be hoping for strength from ASE Technology Hldg as it approaches its next earnings release.
Investors might also notice recent changes to analyst estimates for ASE Technology Hldg. 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 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 4.35% lower. ASE Technology Hldg is currently a Zacks Rank #3 (Hold).
In terms of valuation, ASE Technology Hldg is currently trading at a Forward P/E ratio of 6.34. For comparison, its industry has an average Forward P/E of 15.58, which means ASE Technology Hldg is trading at a discount to the group.
It is also worth noting that ASX currently has a PEG ratio of 0.28. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Electronics - Semiconductors industry currently had an average PEG ratio of 0.95 as of yesterday's close.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% 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.
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
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