In the latest trading session, Amkor Technology (AMKR) closed at $20.45, marking a +2.82% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.94%. Meanwhile, the Dow experienced a rise of 0.75%, and the technology-dominated Nasdaq saw an increase of 1.52%.
Coming into today, shares of the chip packaging and test services provider had gained 0.81% in the past month. In that same time, the Computer and Technology sector gained 3.9%, while the S&P 500 gained 1.67%.
Investors will be eagerly watching for the performance of Amkor Technology in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.16, showcasing a 40.74% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $1.42 billion, reflecting a 2.51% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.18 per share and a revenue of $6.11 billion, signifying shifts of -17.48% and -3.24%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Amkor Technology. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Within the past 30 days, our consensus EPS projection remained stagnant. Amkor Technology presently features a Zacks Rank of #5 (Strong Sell).
In the context of valuation, Amkor Technology is at present trading with a Forward P/E ratio of 16.89. This represents a discount compared to its industry average Forward P/E of 24.1.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 84, positioning it in the top 35% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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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