Semiconductor packaging and testing company Amkor Technology (NASDAQ: AMKR) will be announcing earnings results this Monday after market hours. Here’s what investors should know.
Amkor beat analysts’ revenue expectations last quarter, reporting revenues of $1.68 billion, up 27.5% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS and 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 20.2% year on year, improving from the 3.4% 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 Q2 results, giving us a hint as to what we can expect. Intel delivered year-on-year revenue growth of 25.4%, beating analysts’ expectations by 11.7%, and Micron reported revenues up 346%, topping estimates by 13.9%. Intel traded down 12.2% following the results.
Read our full analysis of Intel’s results here and Micron’s results here.
Over the last year or so, investors' attention has moved from one major market theme to the next, spanning AI disruption and surging infrastructure investment to geopolitical tensions, interest rates, and the health of the broader economy. While some of the semiconductors stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 12.6% on average over the last month. Amkor is down 18% during the same time and is heading into earnings with an average analyst price target of $79 (compared to the current share price of $64.53).
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