Amkor Technology Analysts Slash Their Forecasts After Q1 Earnings

Amkor Technology Inc (NASDAQ:AMKR) posted better-than-expected first-quarter sales results after Monday’s closing bell.

Amkor reported quarterly earnings of nine cents per share, in line with the analyst consensus estimate. Quarterly revenue came in at $1.32 billion, which beat the $1.28 billion consensus estimate.

“Amkor delivered first quarter results in line with expectations, with revenue of $1.32 billion and EPS of $0.09,” said Giel Rutten, Amkor’s president and chief executive officer. “We are closely monitoring the evolving landscape with tariffs and trade regulations and potential impacts on our customers’ supply chains. Our diversified global footprint and long-standing partnerships allow us to help our customers work through complexity and uncertainty. Within this dynamic environment, our focus remains on staying agile and delivering value by executing on our long-term strategy.”

Amkor said it sees second-quarter earnings of between seven cents and 23 cents per share, versus the 15 cent estimate, and revenue in a range of $1.375 billion to $1.475 billion, versus the $1.33 billion estimate. 

Amkor shares fell 1.8% to trade at $17.17 on Tuesday.

These analysts made changes to their price targets on Amkor following earnings announcement.

• Needham analyst Charles Shi maintained Amkor Tech with a Buy rating and lowered the price target from $34 to $22.
• DA Davidson analyst Thomas Diffely maintained the stock with a Buy rating and lowered the price target from $36 to $30.
• Morgan Stanley analyst Joseph Moore maintained Amkor Tech with an Equal-Weight rating and cut the price target from $24 to $19.

Considering buying AMKR stock? Here’s what analysts think:

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