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Undervalued US Stocks With Bullish Signals: $ASX $BIO $MFC

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ASE Technology Joins Apple Supplier Clean Energy Program

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ASE Technology Holding Co Ltd (NYSE:ASX) is an undervalued stock since it has a PEG ratio of 0.47, which is below 1. The company recently announced joining Apple Supplier Clean Energy Program. ASE is known as one of the pioneers in semiconductor markets. As one of the leading manufacturers, ASE said that it is taking strong steps towards energy efficiency.

ASE said that it is looking for a paradigm shift towards green production and manufacturing. Apple Supplier Clean Energy Program aims at transitioning its suppliers towards greener, cleaner and renewable energy sources. At present, ASE has 8 manufacturing facilities across the world which makes use of renewable energy. Additionally, three other facilities have procured sources for renewable energy.

Bio-Rad Reported Second Quarter Financial Results

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Bio-Rad Laboratories (NYSE:BIO) has a PEG ratio of 0.57, which is less than 1, indicating that the stock is bullish and undervalued. On July 30, the company reported its second quarter financial results for the period ending June 30, 2020.

Net sales of Bio-Rad in Q2-20 came in at $536.9 million, indicating 6.2% decrease. This compares with $572.6 million net sales reported in Q2-19. The quarterly net sales dropped 4.4% on currency-neutral basis during Q2-20, when compared with the previous year.

Gross margin in Q2-20 came in at 54.6%, as against 53.7% in Q2-19. The company reported that its net income for Q2-20 came in at $966.4 million, or $32.15 per share. In the same time period in 2019, the net income was $598.8 million, or $19.86 per share, both these figures are on a diluted basis.

Manulife To Release Second Quarter Financial Results Today

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Manulife Financial Corporation (NYSE:MFC) has a PEG ratio of 0.88. As the PEG Ratio is less than 1, the company is undervalued. The leading international financial services group will announce its financial results for the second quarter today after the market close. The company announced that earnings call will be made on August 6.

The company will have discussions with the analysts. Manulife had $1.2 trillion in assets until March 31, 2020, i.e., previous quarter. The company made payments of $30.4 billion to its customers in last 12 months duration.

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The post Undervalued US Stocks With Bullish Signals: $ASX $BIO $MFC appeared first on The Market Signals.

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