Amkor (AMKR)
NASDAQ:AMKR
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Amkor
(NASDAQ:AMKR)
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Rating:68Neutral
Price Target:
$52.00
▼(-10.28% Downside)
Action:ReiteratedDate:02/11/26
AMKR scores well on trend and momentum, supported by stable fundamentals and a generally constructive earnings outlook for 2026 growth in computing and advanced packaging. The primary score constraint is valuation (high P/E, low yield) alongside near-term margin pressure and elevated, front-loaded CapEx that adds execution and cash-flow risk.
Positive Factors
Advanced packaging ramp
High-density fan-out (HDFO) and advanced packaging ramps establish Amkor as a supplier for higher-value back-end services. Scaling HDFO into high-volume production and prioritizing equipment spend creates durable revenue mix improvement, higher ASPs per unit, and stronger positioning in AI/HPC and premium compute markets.
Negative Factors
Front-loaded CapEx
Material, front-loaded capital spending concentrates execution and cash-timing risk in the near term. Heavy facility and equipment outlays raise the need for timely government incentives and efficient ramp execution; delays or lower-than-expected incentive timing could pressure free cash flow and reported earnings.
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Positive Factors
Negative Factors
Advanced packaging ramp
High-density fan-out (HDFO) and advanced packaging ramps establish Amkor as a supplier for higher-value back-end services. Scaling HDFO into high-volume production and prioritizing equipment spend creates durable revenue mix improvement, higher ASPs per unit, and stronger positioning in AI/HPC and premium compute markets.
Read all positive factors
Amkor (AMKR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$13.64B
Dividend Yield0.81%
Average Volume (3M)3.42M
Price to Earnings (P/E)26.1
Beta (1Y)2.07
Revenue Growth0.13%
EPS Growth-16.17%
CountryUS
Employees28,300
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)0.69
Shares Outstanding247,309,070
10 Day Avg. Volume2,418,049
30 Day Avg. Volume3,423,302
Financial Highlights & Ratios
PEG Ratio5.37
Price to Book (P/B)2.18
Price to Sales (P/S)1.45
P/FCF Ratio51.09
Enterprise Value/Market Cap1.06
Enterprise Value/Revenue2.16
Enterprise Value/Gross Profit15.47
Enterprise Value/Ebitda12.50
Forecast
1Y Price Target
$54.33Price Target Upside-6.26% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)1.66
Revenue Forecast (FY)$7.46B
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 semicondu...
How the Company Makes Money
Amkor makes money by providing fee-based semiconductor back-end manufacturing services—primarily assembly/packaging and test—to customers that design and sell semiconductor devices but outsource these steps. Its core revenue stream is service reve...
Amkor Earnings Call Summary
Earnings Call Date:Feb 09, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 27, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational and commercial momentum—record advanced and computing revenue, successful HDFO ramping into high-volume production, Vietnam breakeven, robust liquidity, and a bullish 2026 compute growth outlook (>20%)—while also flagging near-term margin pressure, a materially higher and front-loaded CapEx plan ($2.5–$3.0B), ramp-related margin dilution (90 bps from Vietnam), increased operating expenses, and timing risk on government incentives. On balance the positives (revenue momentum, strategic program ramps, balance-sheet flexibility, and clear near-term demand drivers in AI/HPC and advanced automotive) appear to outweigh the near-term financial and execution headwinds.Positive Updates
Strong Q4 Results and Guidance Beat
Q4 revenue of $1.89 billion and diluted EPS of $0.69, outperforming the high end of guidance; Q4 revenue was down 5% sequentially but up 16% year-over-year.
Negative Updates
Sequential Q4 Decline and Q1 Margin Pressure
Q4 revenue declined 5% sequentially due to typical seasonal declines in communications and consumer. Q1 2026 gross margin guidance is 12.5%–13.5%, below Q4's 16.7% and below full-year 2025 margin, indicating near-term margin pressure.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Q4 Results and Guidance Beat
Q4 revenue of $1.89 billion and diluted EPS of $0.69, outperforming the high end of guidance; Q4 revenue was down 5% sequentially but up 16% year-over-year.
Read all positive updates
Company Guidance
Amkor guided Q1 2026 revenue of $1.6–$1.7 billion (midpoint $1.65B, ~25% YoY), gross margin of 12.5%–13.5%, operating expenses of ~$135 million, and Q1 net income of $45–$70 million (EPS $0.18–$0.28), while projecting a full-year effective tax rate of ~20%; for full-year 2026 it expects computing to grow >20% with the remainder of the business up in the single digits and continued strong advanced automotive growth, and it plans CapEx of $2.5–$3.0 billion (65%–70% for facility expansion including Arizona Phase One, ~30%–35% for HDFO/test and other advanced packaging capacity, and the balance for R&D/quality), with the majority of equipment investment focused on HDFO and test.Amkor Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
74
Positive
Cash Flow
70
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 6.71B | 6.32B | 6.50B | 7.09B | 6.14B |
| Gross Profit | 938.60M | 933.21M | 943.15M | 1.33B | 1.23B |
| EBITDA | 1.16B | 1.09B | 1.13B | 1.53B | 1.33B |
| Net Income | 373.89M | 354.01M | 359.81M | 765.82M | 643.00M |
Balance Sheet | |||||
| Total Assets | 8.14B | 6.94B | 6.77B | 6.82B | 6.04B |
| Cash, Cash Equivalents and Short-Term Investments | 1.99B | 1.65B | 1.59B | 1.24B | 1.08B |
| Total Debt | 1.57B | 1.48B | 1.44B | 1.60B | 1.45B |
| Total Liabilities | 3.63B | 2.76B | 2.78B | 3.12B | 3.07B |
| Stockholders Equity | 4.47B | 4.15B | 3.96B | 3.67B | 2.94B |
Cash Flow | |||||
| Free Cash Flow | 190.99M | 345.07M | 520.55M | 190.46M | 341.52M |
| Operating Cash Flow | 1.10B | 1.09B | 1.27B | 1.10B | 1.12B |
| Investing Cash Flow | -885.04M | -800.32M | -951.91M | -1.01B | -943.88M |
| Financing Cash Flow | 98.70M | -260.43M | -149.21M | 55.60M | -30.10M |
Amkor Technical Analysis
Positive
57.96
Price Trends
47.37
Positive
45.15
Positive
35.78
Positive
Market Momentum
1.79
Negative
69.31
Neutral
95.10
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMKR, the sentiment is Positive. The current price of 57.96 is above the 20-day moving average (MA) of 47.52, above the 50-day MA of 47.37, and above the 200-day MA of 35.78, indicating a bullish trend. The MACD of 1.79 indicates Negative momentum. The RSI at 69.31 is Neutral, neither overbought nor oversold. The STOCH value of 95.10 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AMKR.
Amkor Risk Analysis
Amkor disclosed 29 risk factors in its most recent earnings report. Amkor reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Amkor Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $24.57B | 14.74 | 11.36% | 6.06% | 5.87% | -20.93% | |
69 Neutral | $27.23B | 21.96 | 7.68% | ― | 0.25% | -106.22% | |
68 Neutral | $13.64B | 26.10 | 8.73% | 0.81% | 0.13% | -16.17% | |
64 Neutral | $27.05B | 183.93 | 1.53% | ― | -16.13% | -81.06% | |
63 Neutral | $54.16B | 26.78 | 12.81% | 2.29% | 8.01% | 10.41% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
56 Neutral | $34.27B | 136.11 | 0.97% | 1.28% | -17.33% | -76.71% |
* Technology Sector Average
AMKR
Amkor
57.96
41.61
254.58%
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Amkor Corporate Events
Private Placements and FinancingRegulatory Filings and Compliance
Amkor Announces Large Secondary Offering by Insider Shareholder
Neutral
Feb 13, 2026
On February 12, 2026, Amkor Technology, Inc. entered into an underwriting agreement with Goldman Sachs Co. LLC and selling stockholder 915 Investments, LP, an investment vehicle for the family of Chairman Susan Y. Kim, for the secondary offering ...
Executive/Board Changes
Amkor Appoints Cherie Buntyn as Chief Accounting Officer
Positive
Feb 2, 2026
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...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.