Amkor Technology (AMKR) closed at $69.65 in the latest trading session, marking a -12.93% move from the prior day. Meanwhile, the Dow gained 1.14%, and the Nasdaq, a tech-heavy index, lost 0.8%.
The chip packaging and test services provider's stock has climbed by 6.37% in the past month, exceeding the Computer and Technology sector's loss of 5.47% and the S&P 500's loss of 1.43%.
Analysts and investors alike will be keeping a close eye on the performance of Amkor Technology in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.47, showcasing a 113.64% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.8 billion, indicating a 19.31% increase compared to the same quarter of the previous year.
AMKR's full-year Zacks Consensus Estimates are calling for earnings of $2.08 per share and revenue of $7.59 billion. These results would represent year-over-year changes of +38.67% and +13.16%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Amkor Technology. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Amkor Technology possesses a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Amkor Technology has a Forward P/E ratio of 38.4 right now. This denotes a discount relative to the industry average Forward P/E of 52.31.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 56, this industry ranks in the top 23% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Amkor Technology, Inc. (AMKR): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).