Semiconductor packaging and testing company Amkor Technology (NASDAQ: AMKR) will be reporting results this Monday afternoon. Here’s what you need to know.
Amkor beat analysts’ revenue expectations last quarter, reporting revenues of $1.90 billion, up 25.6% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ operating income estimates.
Is Amkor a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Amkor’s revenue to grow 1.3% year on year, slowing from the 6.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Amkor rarely misses Wall Street’s revenue estimates.
Looking at Amkor’s peers in the semiconductors segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Lam Research delivered year-on-year revenue growth of 54.4%, meeting analysts’ expectations, and Penguin Solutions reported revenues up 67.7%, topping estimates by 8.8%. Lam Research traded down 12% following the results while Penguin Solutions was up 13.1%.
Read our full analysis of Lam Research’s results here and Penguin Solutions’s results here.
Over the past year, investors have repeatedly shifted their focus from one macro narrative to another (AI disruption and AI capex spending to geopolitics, interest rates, and the broader health of the economy). While some of the semiconductors stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 14.8% on average over the last month. Amkor is down 26.3% during the same time and is heading into earnings with an average analyst price target of $74.50 (compared to the current share price of $39.51).
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