Amkor Technology (AMKR) closed at $48.67 in the latest trading session, marking a -6.31% move from the prior day. This change lagged the S&P 500's daily loss of 0.53%. Meanwhile, the Dow lost 0.09%, and the Nasdaq, a tech-heavy index, lost 1%.
Shares of the chip packaging and test services provider have appreciated by 28.97% over the course of the past month, outperforming the Computer and Technology sector's gain of 2.62%, and the S&P 500's gain of 2.06%.
The investment community will be closely monitoring the performance of Amkor Technology in its forthcoming earnings report. In that report, analysts expect Amkor Technology to post earnings of $0.42 per share. This would mark a year-over-year decline of 2.33%. 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 full year, the Zacks Consensus Estimates are projecting earnings of $1.25 per share and revenue of $6.65 billion, which would represent changes of -12.59% and 0%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Amkor Technology. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained unchanged. Amkor Technology is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Amkor Technology is currently exchanging hands at a Forward P/E ratio of 34.12. Its industry sports an average Forward P/E of 36.54, 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. This group has a Zacks Industry Rank of 84, putting it in the top 35% of all 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during 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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