Amkor (AMKR) AI Stock Analysis

• Market Cap: $10.84B
• Dividend Yield: 0.81%
• Average Volume (3M): 3.38M
• Price to Earnings (P/E): 35.4
• Beta (1Y): 1.99
• Revenue Growth: 0.13%
• EPS Growth: -16.17%
• Country: US
• Employees: 28,300
• Sector: Technology
• Sector Strength: 88
• Industry: Semiconductors
• EPS (TTM): 0.51
• Shares Outstanding: 247,193,440
• 10 Day Avg. Volume: 3,449,984
• 30 Day Avg. Volume: 3,379,048
• PEG Ratio: -13.06
• Price to Book (P/B): 1.53
• Price to Sales (P/S): 1.00
• P/FCF Ratio: 18.35
• Enterprise Value/Market Cap: 1.05
• Enterprise Value/Revenue: 1.77
• Enterprise Value/Gross Profit: 13.11
• Enterprise Value/Ebitda: 10.41
• 1Y Price Target: $45.25
• Price Target Upside: 3.15% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: $52.00 ▲(18.53% Upside)

The score is driven primarily by stable financial performance (strong cash generation and conservative leverage) and a constructive earnings update (beat to guidance and strength in key end markets). Offsetting these are a high P/E with low dividend yield and only neutral-to-mixed technical momentum.

Positive Factors

Free Cash Flow Strength

Sustained 72% TTM free cash flow growth demonstrates robust cash generation capacity. This durable cash conversion supports large capital projects, funds R&D and capacity expansion, and enhances resilience to semiconductor cyclicality without immediate reliance on external financing.

Conservative Leverage

A debt-to-equity of ~0.39 indicates a conservative capital structure that preserves financial flexibility. Low leverage reduces refinancing and liquidity risk, enabling the company to fund multi-year investments and navigate downturns while maintaining operational continuity.

Strategic Capacity Investment

The $7B Arizona campus is a structural expansion into advanced packaging capacity and supply-chain resilience. It deepens technological capabilities, strengthens customer ties, and supports long-term market share gains in high-growth communications and computing end markets.

Negative Factors

Low Net Profitability

A net margin near 4.8% signals thin profitability, limiting retained earnings and internal reinvestment. Persistent low margins reduce shock absorption to cost inflation and constrain long-term EPS growth unless operational efficiencies or pricing power improve materially.

Modest Revenue Growth

TTM revenue growth of ~2% suggests limited organic top-line expansion. Slow growth hampers scale economies and reduces leverage on fixed costs, requiring successful execution of strategic investments or market share gains to materially lift long-term profitability.

Modest Return on Equity

ROE of ~7.3% denotes modest returns on shareholder capital versus capital-intensive peers. Sustained low ROE can limit the firm’s ability to self-fund growth and may necessitate continued large capital deployments to drive meaningful improvements in profitability.

Amkor Business Overview & Revenue Model

Company Description

Amkor Technology, Inc. provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and the rest of the Asia Pacific. It offers turnkey packaging and test services, including semiconductor wafer bump, wafer probe, wafer back-grind, package design, packaging, and test and drop shipment services. The company also provides flip chip-scale package products for use in smartphones, tablets, and other mobile consumer electronic devices; flip-chip stacked chip-scale packages that are used to stack memory on top of digital baseband, and as applications processors in mobile devices; and flip-chip ball grid array packages for various networking, storage, computing, and consumer applications. In addition, it offers wafer-level CSP packages that are used in power management, transceivers, sensors, wireless charging, codecs, radar, and specialty silicon; wafer-level fan-out packages for use in ICs; and silicon wafer integrated fan-out technology, which replaces a laminate substrate with a thinner structure. Further, the company provides lead frame packages that are used in electronic devices for low to medium pin count analog and mixed-signal applications; substrate-based wirebond packages, which are used to connect a die to a substrate; micro-electro-mechanical systems (MEMS) packages that are miniaturized mechanical and electromechanical devices; and advanced system-in-package modules, which are used in radio frequency and front end modules, basebands, connectivity, fingerprint sensors, display and touch screen drivers, sensors and MEMS, and NAND memory and solid-state drives. It primarily serves integrated device manufacturers, fabless semiconductor companies, original equipment manufacturers, and contract foundries. Amkor Technology, Inc. was founded in 1968 and is headquartered in Tempe, Arizona.

How the Company Makes Money

Amkor generates revenue primarily through its semiconductor packaging and testing services. The company operates on a fee-for-service model, charging clients for the design, manufacturing, and testing of semiconductor packages. Key revenue streams include sales of packaging services, testing services, and engineering services. Additionally, Amkor benefits from long-term contracts with major semiconductor manufacturers, which provide a stable revenue base. Strategic partnerships with leading technology firms enhance its market position and drive growth, allowing Amkor to expand its capabilities and service offerings in the fast-evolving semiconductor landscape.

Amkor Financial Statement Overview

Summary

Financials are stable overall: strong free cash flow growth (72.13% TTM) and manageable leverage (debt-to-equity 0.39) are positives, but profitability is pressured with low net margin (4.80%) and modest TTM revenue growth (1.98%).

Income Statement

Amkor's income statement shows a moderate performance with a slight revenue growth of 1.98% in the TTM period. The gross profit margin stands at 13.58%, indicating some pressure on cost management. The net profit margin is relatively low at 4.80%, reflecting challenges in translating revenue into profit. EBIT and EBITDA margins are at 7.16% and 16.85%, respectively, suggesting decent operational efficiency but room for improvement in profitability.

Balance Sheet

The balance sheet reflects a stable financial position with a debt-to-equity ratio of 0.39, indicating a conservative leverage approach. Return on equity is modest at 7.29%, showing limited returns on shareholder investments. The equity ratio is not explicitly calculated but suggests a balanced asset structure. Overall, the company maintains a healthy balance sheet with manageable debt levels.

Cash Flow

Amkor's cash flow statement highlights strong free cash flow growth of 72.13% in the TTM period, a positive indicator of cash generation capabilities. The operating cash flow to net income ratio is 0.51, suggesting efficient cash conversion. The free cash flow to net income ratio of 0.43 indicates a solid ability to generate cash relative to net income, supporting future investments and debt servicing.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	6.45B	6.32B	6.50B	7.09B	6.14B	5.05B
Gross Profit	870.68M	933.21M	943.15M	1.33B	1.23B	900.81M
EBITDA	1.10B	1.09B	1.13B	1.53B	1.33B	961.25M
Net Income	307.78M	354.01M	359.81M	765.82M	643.00M	338.14M
Balance Sheet
Total Assets	8.19B	6.94B	6.77B	6.82B	6.04B	5.02B
Cash, Cash Equivalents and Short-Term Investments	2.11B	1.65B	1.59B	1.24B	1.08B	831.77M
Total Debt	1.97B	1.42B	1.38B	1.53B	1.37B	1.31B
Total Liabilities	3.84B	2.76B	2.78B	3.12B	3.07B	2.67B
Stockholders Equity	4.31B	4.15B	3.96B	3.67B	2.94B	2.33B
Cash Flow
Free Cash Flow	230.47M	345.07M	520.55M	190.46M	341.52M	217.01M
Operating Cash Flow	988.73M	1.09B	1.27B	1.10B	1.12B	770.03M
Investing Cash Flow	-853.09M	-800.32M	-951.91M	-1.01B	-943.88M	-638.71M
Financing Cash Flow	465.76M	-260.43M	-149.21M	55.60M	-30.10M	-333.72M

Amkor Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 43.87
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMKR, the sentiment is Neutral. The current price of 43.87 is below the 20-day moving average (MA) of 49.94, below the 50-day MA of 44.66, and above the 200-day MA of 29.36, indicating a neutral trend. The MACD of 0.69 indicates Positive momentum. The RSI at 40.30 is Neutral, neither overbought nor oversold. The STOCH value of 12.25 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AMKR.

Amkor Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
UMC	77 Outperform	$24.56B	18.56	11.43%	6.06%	5.87%	-20.93%
ON	73 Outperform	$24.97B	82.34	3.87%	―	-16.13%	-81.06%
ASX	69 Neutral	$41.77B	36.55	11.16%	2.29%	8.01%	10.41%
AMKR	66 Neutral	$10.84B	35.35	7.27%	0.81%	0.13%	-16.17%
STM	64 Neutral	$25.59B	153.88	0.93%	1.28%	-17.33%	-76.71%
GFS	63 Neutral	$22.84B	-491.25	-0.38%	―	0.25%	-106.22%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%

Amkor Corporate Events

Amkor Appoints Cherie Buntyn as Chief Accounting Officer

On February 2, 2026, Amkor Technology, Inc. appointed Cherie Buntyn as Senior Vice President and Chief Accounting Officer, making her the company’s principal accounting officer. Buntyn, a Certified Public Accountant with a B.S. in Accounting from Santa Clara University, brings nearly three decades of experience from roles at SurveyMonkey, FLIR Systems, Intel Corporation and Deloitte & Touche, and will receive a starting base salary of $300,000 with eligibility for an annual bonus targeted at 35% of base salary; the company disclosed that her appointment involves no special arrangements, family relationships or related-party transactions requiring additional regulatory disclosure.

The most recent analyst rating on (AMKR) stock is a Buy with a $57.00 price target. To see the full list of analyst forecasts on Amkor stock, see the AMKR Stock Forecast page.

John Liu Resigns from Amkor Board, Transitioning Roles

On October 28, 2025, John Liu resigned from Amkor Technology, Inc.’s Board of Directors, with no disagreements cited regarding company operations or policies. Following his resignation, the Board reduced its size from eleven to ten members. Liu will transition to the role of Executive Vice President, Corporate Development and Strategy on November 3, 2025.

The most recent analyst rating on (AMKR) stock is a Buy with a $37.00 price target. To see the full list of analyst forecasts on Amkor stock, see the AMKR Stock Forecast page.