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Amkor Technology Q3 sales slightly miss estimates on weak Communications

By Reuters News


Overview

  • US semiconductor packaging provider's Q3 net sales slightly missed analyst expectations

  • Adjusted EPS for Q3 rose to $0.76 from $0.51 last year

  • Company saw record revenue in Computing and Automotive & Industrial, offset by weak Communications


Outlook

  • Amkor forecasts Q4 net sales of $1.9 bln to $2.0 bln

  • Company expects Q4 gross margin of 18.0% to 19.0%

  • Amkor projects Q4 net income of $160 mln to $185 mln, or $0.65 to $0.75 per share


Result Drivers

  • RECORD COMPUTING AND AUTOMOTIVE REVENUE - Co said Q3 revenue reached record levels in Computing and Automotive & Industrial end markets

  • WEAK COMMUNICATIONS DEMAND - Co said Communications segment was weak as expected in Q3

  • MARGIN EXPANSION - Co attributed margin expansion to improved customer commitments and execution on key programs


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales

Slight Miss*

$1.99 bln

$2.01 bln (9 Analysts)

Q3 EPS

$0.76

*Applies to a deviation of less than 1%; not applicable for per-share numbers.


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the semiconductor equipment & testing peer group is "buy."

  • Wall Street's median 12-month price target for Amkor Technology, Inc. is $70.00, about 78.1% above its October 23 closing price of $39.30

  • The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 40 three months ago


Reuters Recommended Reads

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  • Oct 26 - SK Hynix to announce steps to boost shareholder returns on Wednesday


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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