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ASE Technology Hldg (ASX) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·3-min read

In the latest trading session, ASE Technology Hldg (ASX) closed at $5.38, marking a -1.28% move from the previous day. This move lagged the S&P 500's daily loss of 1.13%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq added 0.16%.

Heading into today, shares of the integrated circuit maker had lost 12.38% over the past month, lagging the Computer and Technology sector's loss of 12.18% and the S&P 500's loss of 7.59% in that time.

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 help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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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 has moved 3.26% lower. ASE Technology Hldg is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, ASE Technology Hldg is holding a Forward P/E ratio of 6.12. For comparison, its industry has an average Forward P/E of 15.45, which means ASE Technology Hldg is trading at a discount to the group.

We can also see that ASX currently has a PEG ratio of 0.27. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ASX's industry had an average PEG ratio of 0.97 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 96, putting it in the top 39% 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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Zacks Investment Research