Semiconductor packaging and testing company Amkor Technology (NASDAQ:AMKR) will be reporting results this Monday afternoon. Here’s what you need to know.
Amkor beat analysts’ revenue expectations by 3% last quarter, reporting revenues of $1.32 billion, down 3.2% year on year. It was a strong quarter for the company, with a solid beat of analysts’ adjusted operating income estimates and an impressive beat of analysts’ EPS estimates.
Is Amkor a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Amkor’s revenue to decline 2.7% year on year to $1.42 billion, a deceleration from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.16 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 twice 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. Micron delivered year-on-year revenue growth of 36.6%, beating analysts’ expectations by 4.9%, and Texas Instruments reported revenues up 16.4%, topping estimates by 2%. Micron traded down 1.2% following the results while Texas Instruments was also down 13.3%.
Read our full analysis of Micron’s results here and Texas Instruments’s results here.
There has been positive sentiment among investors in the semiconductors segment, with share prices up 2.5% on average over the last month. Amkor is up 1.2% during the same time and is heading into earnings with an average analyst price target of $22 (compared to the current share price of $21.40).
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