Semiconductor packaging and testing company Amkor technology (NASDAQ:) will report earnings tomorrow afternoon. Here you can read what you should pay attention to.
Amkor beat analysts’ revenue expectations by 2.1% last quarter, reporting revenue of $1.75 billion, down 8.1% year over year. It was a slower quarter for the company, with disappointing revenue expectations for the following quarter.
Is Amkor a profit-making buy or sale? Find out by reading the original article on StockStory, it’s free.
This quarter, analysts expect Amkor’s revenue to decline 6.4% year over year to $1.38 billion, an improvement from the 7.8% decline recorded in the same quarter last year. Adjusted earnings are expected to be $0.13 per share.
The majority of analysts covering the company have reaffirmed their estimates from the last thirty days, suggesting they expect the company to continue its trajectory on the earnings front. Amkor has missed Wall Street revenue estimates three times in the past two years.
Looking at Amkor’s peers in the semiconductor manufacturing segment, some have already reported their first quarter results, which gives us an idea of what to expect. Teradyne (NASDAQ:) revenue fell 2.9% year-over-year, beating analyst expectations by 5.2%, and Lam Research (NASDAQ:) reported a 2% decline in revenue, beating Wall Street consensus estimates by 1.7% were surpassed. Teradyne rose 7.9% after the results, while Lam Research was flat on the results.
Read the full analysis of Teradyne and Lam Research results on StockStory.
Growth stocks have been quite volatile in early 2024, and while some semiconductor industry stocks have done slightly better, they haven’t been spared, with the share price down 2.9% over the past month. Amkor is down 3.5% in the same period and is heading for gains with an average analyst price target of $36.3 (compared to the share price of $30.69).
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