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

Zacks Equity Research
·2-min read

In the latest trading session, ASE Technology Hldg (ASX) closed at $6.83, marking a -1.44% move from the previous day. This change lagged the S&P 500's 0.27% loss on the day. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, lost 0.18%.

Coming into today, shares of the integrated circuit maker had lost 2.26% in the past month. In that same time, the Computer and Technology sector gained 7.53%, while the S&P 500 gained 7.36%.

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 revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ASE Technology Hldg is holding a Zacks Rank of #2 (Buy) right now.

Digging into valuation, ASE Technology Hldg currently has a Forward P/E ratio of 7.53. This represents a discount compared to its industry's average Forward P/E of 18.41.

We can also see that ASX currently has a PEG ratio of 0.27. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Electronics - Semiconductors was holding an average PEG ratio of 1.31 at yesterday's closing price.

The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% 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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