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In the latest market close, Amkor Technology (AMKR) reached $19.55, with a -0.2% movement compared to the previous day. The stock's change was more than the S&P 500's daily loss of 1.07%. Elsewhere, the Dow saw a downswing of 0.62%, while the tech-heavy Nasdaq depreciated by 1.71%.
Shares of the chip packaging and test services provider have depreciated by 12.97% over the course of the past month, underperforming the Computer and Technology sector's loss of 11.12% and the S&P 500's loss of 7.03%.
The upcoming earnings release of Amkor Technology will be of great interest to investors. On that day, Amkor Technology is projected to report earnings of $0.10 per share, which would represent a year-over-year decline of 58.33%. Our most recent consensus estimate is calling for quarterly revenue of $1.28 billion, down 6.6% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.47 per share and revenue of $6.23 billion, indicating changes of +2.8% and -1.36%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Amkor Technology. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Amkor Technology possesses a Zacks Rank of #4 (Sell).
With respect to valuation, Amkor Technology is currently being traded at a Forward P/E ratio of 13.35. Its industry sports an average Forward P/E of 25.7, so one might conclude that Amkor Technology is trading at a discount comparatively.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 66, positioning it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.