Amkor Technology (AMKR) ended the recent trading session at $26.62, demonstrating a -1.57% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.1%. Elsewhere, the Dow saw an upswing of 0.57%, while the tech-heavy Nasdaq depreciated by 0.33%.
Prior to today's trading, shares of the chip packaging and test services provider had gained 13.9% outpaced the Computer and Technology sector's gain of 5.94% and the S&P 500's gain of 2.57%.
The investment community will be paying close attention to the earnings performance of Amkor Technology in its upcoming release. On that day, Amkor Technology is projected to report earnings of $0.42 per share, which would represent a year-over-year decline of 14.29%. At the same time, our most recent consensus estimate is projecting a revenue of $1.93 billion, reflecting a 3.61% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.1 per share and revenue of $6.44 billion, indicating changes of -23.08% and +2.01%, 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. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Amkor Technology is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Amkor Technology has a Forward P/E ratio of 24.69 right now. This indicates a discount in contrast to its industry's Forward P/E of 35.43.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 193, positioning it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Amkor Technology, Inc. (AMKR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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