Amkor Technology (AMKR) closed at $39.48 in the latest trading session, marking a -2.28% move from the prior day. This change lagged the S&P 500's daily loss of 0.74%. Elsewhere, the Dow saw a downswing of 0.63%, while the tech-heavy Nasdaq depreciated by 0.76%.
Heading into today, shares of the chip packaging and test services provider had lost 0.62% over the past month, lagging the Computer and Technology sector's gain of 0.14% and the S&P 500's gain of 0.79%.
The investment community will be paying close attention to the earnings performance of Amkor Technology in its upcoming release. The company is forecasted to report an EPS of $0.42, showcasing a 2.33% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $1.83 billion, indicating a 12.14% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.25 per share and a revenue of $6.65 billion, signifying shifts of -12.59% and +5.21%, respectively, from the last year.
Investors should also take note of any recent adjustments 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 business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Amkor Technology is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Amkor Technology is holding a Forward P/E ratio of 32.38. This valuation marks a discount compared to its industry average Forward P/E of 35.99.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 96, placing it within the top 39% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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