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ASE Technology Hldg (ASX) Outpaces Stock Market Gains: What You Should Know
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ASE Technology Hldg (ASX - Free Report) closed at $7.49 in the latest trading session, marking a +1.9% move from the prior day. This move outpaced the S&P 500's daily gain of 1.24%. Meanwhile, the Dow gained 1.23%, and the Nasdaq, a tech-heavy index, added 0.15%.
Coming into today, shares of the integrated circuit maker had lost 2.65% in the past month. In that same time, the Computer and Technology sector lost 5.9%, while the S&P 500 lost 2.45%.
Wall Street will be looking for positivity from ASE Technology Hldg as it approaches its next earnings report date.
Investors should also note any recent changes to analyst estimates for ASE Technology Hldg. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. ASE Technology Hldg currently has a Zacks Rank of #2 (Buy).
Investors should also note ASE Technology Hldg's current valuation metrics, including its Forward P/E ratio of 7.99. Its industry sports an average Forward P/E of 19.67, so we one might conclude that ASE Technology Hldg is trading at a discount comparatively.
Investors should also note that ASX has a PEG ratio of 0.3 right now. 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. ASX's industry had an average PEG ratio of 1.26 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 53, putting it in the top 21% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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ASE Technology Hldg (ASX) Outpaces Stock Market Gains: What You Should Know
ASE Technology Hldg (ASX - Free Report) closed at $7.49 in the latest trading session, marking a +1.9% move from the prior day. This move outpaced the S&P 500's daily gain of 1.24%. Meanwhile, the Dow gained 1.23%, and the Nasdaq, a tech-heavy index, added 0.15%.
Coming into today, shares of the integrated circuit maker had lost 2.65% in the past month. In that same time, the Computer and Technology sector lost 5.9%, while the S&P 500 lost 2.45%.
Wall Street will be looking for positivity from ASE Technology Hldg as it approaches its next earnings report date.
Investors should also note any recent changes to analyst estimates for ASE Technology Hldg. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. ASE Technology Hldg currently has a Zacks Rank of #2 (Buy).
Investors should also note ASE Technology Hldg's current valuation metrics, including its Forward P/E ratio of 7.99. Its industry sports an average Forward P/E of 19.67, so we one might conclude that ASE Technology Hldg is trading at a discount comparatively.
Investors should also note that ASX has a PEG ratio of 0.3 right now. 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. ASX's industry had an average PEG ratio of 1.26 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 53, putting it in the top 21% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.