Amkor Technology Set for Earnings Call; Analysts Adjust Predictions
Amkor Technology's Upcoming Earnings Report
Amkor Technology, Inc. (NASDAQ: AMKR) is preparing to announce its results for the third quarter. The anticipation for this release comes as analysts closely monitor the company's earnings performance.
Analyst Projections for Q3 Earnings
Experts are predicting that Amkor Technology will deliver quarterly earnings of approximately 43 cents per share. This represents a decline compared to 49 cents per share reported for the same quarter last year. On the revenue side, expectations are set at around $1.93 billion, marking a slight increase from $1.86 billion year-over-year.
Recent Performance Indicators
The company's financial data from the second quarter indicated stronger-than-anticipated outcomes, leading to an optimistic outlook for the upcoming quarter. Recently, Amkor Technology's shares climbed by 2.5%, closing at $32.77, suggesting investor confidence prior to the earnings call.
Insights from Top Analysts
Notably, analysts have been reevaluating their ratings and target prices for Amkor Technology based on its recent performance and market conditions. For instance:
- Craig Ellis of B. Riley Securities has maintained a Neutral rating, increasing the target price from $18 to $24.
- JP Morgan's Peter Peng has an Overweight rating with a revised target moving from $25 to $27.
- Morgan Stanley analyst Joseph Moore is holding an Equal-Weight rating while adjusting the target from $19 to $20.
- Charles Shi of Needham affirmed a Buy rating, raising the price target from $22 to $28, reflecting confidence in the company’s growth potential.
- DA Davidson's Thomas Diffely has lowered the price target from $36 to $30 while keeping a Buy rating.
Considering an Investment in Amkor Technology?
With analysts revising their predictions, potential investors may be wondering about the prospects of purchasing AMKR stock. This current landscape encourages informed decisions, underscoring the significance of professional insights in navigating the market.
Frequently Asked Questions
1. What are analysts predicting for Amkor's Q3 earnings?
Analysts forecast Amkor to report earnings of about 43 cents per share, down from 49 cents per share last year.
2. How has Amkor's share price been affected recently?
Amkor's shares rose by 2.5% recently, closing at $32.77, reflecting a positive market reaction ahead of the earnings call.
3. What is the expected revenue for Amkor in the upcoming report?
The anticipated quarterly revenue for Amkor Technology is approximately $1.93 billion.
4. Who are some key analysts following Amkor Technology?
Craig Ellis, Peter Peng, Joseph Moore, Charles Shi, and Thomas Diffely are among the analysts actively providing insights on AMKR.
5. What should investors consider before buying AMKR stock?
Investors should evaluate analyst ratings, recent performance metrics, and broader market conditions before making investment decisions.
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