Semiconductor packaging and testing company Amkor Technology (NASDAQ: AMKR) will be announcing earnings results this Monday after market hours. Here’s what to look for.
Amkor beat analysts’ revenue expectations last quarter, reporting revenues of $1.89 billion, up 15.9% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted 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 25.4% year on year, a reversal from the 3.2% decrease it recorded in the same quarter last year.
Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing in majority upward revisions over the last 30 days. Amkor rarely misses Wall Street’s revenue estimates.
Looking at Amkor’s peers in the semiconductors segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Lam Research delivered year-on-year revenue growth of 23.8%, beating analysts’ expectations by 1.7%, and Texas Instruments reported revenues up 18.6%, topping estimates by 6.6%. Lam Research traded down 2.5% following the results while Texas Instruments was up 19.6%.
Read our full analysis of Lam Research’s results here and Texas Instruments’s results here.
There has been positive sentiment among investors in the semiconductors segment, with share prices up 43.5% on average over the last month. Amkor is up 76.3% during the same time and is heading into earnings with an average analyst price target of $57.25 (compared to the current share price of $78.30).
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