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ASE Technology Hldg (ASX) Gains As Market Dips: What You Should Know

Zacks Equity Research
·2-min read

ASE Technology Hldg (ASX) closed at $7.88 in the latest trading session, marking a +0.13% move from the prior day. This move outpaced the S&P 500's daily loss of 0.06%. Meanwhile, the Dow gained 0.59%, and the Nasdaq, a tech-heavy index, lost 0.3%.

Heading into today, shares of the integrated circuit maker had gained 2.88% over the past month, lagging the Computer and Technology sector's gain of 4.06% and the S&P 500's gain of 5.76% in that time.

ASE Technology Hldg will be looking to display strength as it nears its next earnings release.

It is also important to note the recent changes to analyst estimates for ASE Technology Hldg. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

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. Within the past 30 days, our consensus EPS projection remained stagnant. ASE Technology Hldg is currently sporting a Zacks Rank of #3 (Hold).

In terms of valuation, ASE Technology Hldg is currently trading at a Forward P/E ratio of 8.74. This represents a discount compared to its industry's average Forward P/E of 24.01.

Meanwhile, ASX's PEG ratio is currently 0.33. 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. ASX's industry had an average PEG ratio of 1.68 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 91, putting it in the top 36% 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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