Stock Story -
Semiconductor packaging and testing company Amkor Technology (NASDAQ:AMKR) will be announcing earnings results tomorrow after the bell. Here's what you need to know.
Amkor met analysts' revenue expectations last quarter, reporting revenues of $1.37 billion, down 7.2% year on year. It was a strong quarter for the company, with a significant improvement in its gross margin and an impressive beat of analysts' EPS estimates.
Is Amkor a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Amkor's revenue to be flat year on year at $1.45 billion, improving from the 3.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.23 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Amkor has missed Wall Street's revenue estimates four times over the last two years.
Looking at Amkor's peers in the semiconductors segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Teradyne (NASDAQ:TER) delivered year-on-year revenue growth of 6.6%, beating analysts' expectations by 4.1%, and KLA Corporation (NASDAQ:KLAC) reported revenues up 9.1%, topping estimates by 2.2%. Teradyne traded down 13.2% following the results while KLA Corporation's stock price was unchanged.
Read the full analysis of Teradyne's and KLA Corporation's results on StockStory.
Stocks--especially those trading at higher multiples--had a strong end of 2023, but 2024 has seen periods of volatility. Mixed inflation signals have led to uncertainty around rate cuts, and while some of the semiconductors stocks have fared somewhat better, they have not been spared, with share prices down 3.7% on average over the last month. Amkor is down 5.2% during the same time and is heading into earnings with an average analyst price target of $43.8 (compared to the current share price of $38.15).
