For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has ASE Technology Holding Co. (ASX) been one of those stocks this year? Let’s take a closer look at the stock’s year-to-date performance to find out.
ASE Technology Holding Co. is one of 626 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. ASX is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ASX’s full-year earnings has moved 33.33{cb3fe4c54de06d7c4b8dceae281fb32e521027d1659af7adec2f427d2f5333d9} higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Our latest available data shows that ASX has returned about 26.03{cb3fe4c54de06d7c4b8dceae281fb32e521027d1659af7adec2f427d2f5333d9} since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 2.77{cb3fe4c54de06d7c4b8dceae281fb32e521027d1659af7adec2f427d2f5333d9}. As we can see, ASE Technology Holding Co. is performing better than its sector in the calendar year.
Looking more specifically, ASX belongs to the Electronics – Semiconductors industry, which includes 37 individual stocks and currently sits at #65 in the Zacks Industry Rank. This group has lost an average of 0.94{cb3fe4c54de06d7c4b8dceae281fb32e521027d1659af7adec2f427d2f5333d9} so far this year, so ASX is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track ASX. The stock will be looking to continue its solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
