Financial Performance - Net sales for Q2 2024 were $1.46 billion, a 7% increase sequentially from Q1 2024[1] - Gross profit was $212 million, with a gross margin of 14.5%, compared to 14.8% in Q1 2024 and 12.8% in Q2 2023[2] - Net income attributable to Amkor was $67 million, or $0.27 per diluted share, up from $59 million and $0.24 per share in Q1 2024[2] - EBITDA for Q2 2024 was $247 million, compared to $233 million in Q1 2024[2] - Net income for the six months ended June 30, 2024, was $127,044 thousand, representing an increase of 15.7% compared to $109,668 thousand for the same period in 2023[21] Sales and Market Segmentation - Advanced products accounted for $1.18 billion in net sales, representing 81% of total sales, while mainstream products contributed $281 million[9] - The top ten customers contributed 72% of total net sales, an increase from 70% in Q1 2024[9] - The Communications end market represented 48% of total sales, up from 47% in Q1 2024[9] Financial Guidance and Projections - The company expects Q3 2024 net sales guidance of $1.785 billion to $1.885 billion, with a gross margin forecast of 14.0% to 16.0%[4] - Full year 2024 capital expenditures are projected to be approximately $750 million[4] Cash Flow and Investments - Cash flows from operating activities provided $387,068 thousand for the six months ended June 30, 2024, compared to $422,578 thousand for the same period in 2023, indicating a decrease of 8.4%[21] - The company reported a net cash used in investing activities of $275,059 thousand for the six months ended June 30, 2024, compared to $418,872 thousand for the same period in 2023, a decrease of 34.3%[21] Assets and Liabilities - Cash and short-term investments totaled $1.5 billion, while total debt stood at $1.1 billion as of June 30, 2024[2] - Total current assets decreased from $3,195,810 thousand as of December 31, 2023, to $3,136,841 thousand as of June 30, 2024, a decline of approximately 1.8%[18] - Total liabilities increased slightly from $2,776,090 thousand as of December 31, 2023, to $2,782,216 thousand as of June 30, 2024[18] - Long-term debt decreased from $1,071,832 thousand as of December 31, 2023, to $949,320 thousand as of June 30, 2024, a reduction of approximately 11.4%[18] - Total stockholders' equity increased from $3,962,308 thousand as of December 31, 2023, to $4,049,657 thousand as of June 30, 2024, an increase of approximately 2.2%[18] - Capital expenditures payable rose significantly from $106,368 thousand as of December 31, 2023, to $274,702 thousand as of June 30, 2024, indicating a substantial increase of 158.5%[18] Industry Outlook - The company anticipates continued challenges due to the cyclical nature of the semiconductor industry and potential impacts from global economic conditions[23]

Core Insights - Amkor Technology, Inc. is set to report its second-quarter 2024 results on July 29, with revenue expectations between $1.4 billion and $1.5 billion, slightly lower than the previous year's $1.46 billion [1] - The company anticipates earnings per share (EPS) in the range of 14-30 cents, with a consensus estimate of 22 cents, reflecting a 15.4% decline from the prior year's 26 cents [1] - Amkor has consistently beaten earnings estimates in the past four quarters, with an average surprise of 44.3% [1] Revenue Drivers - The second-quarter performance is expected to benefit from production ramps for new products, particularly in advanced SAP technology and 2.5D technology, driven by demand in the IoT wearables market [2] - AI-enabled product introductions by PC vendors are likely to enhance demand for Amkor's 2.5D advanced packaging technology, positively impacting revenues from the Computing end market [2] Segment Performance - The Communications business segment is projected to see sales growth due to improved demand in the Android supply chain and NAND memory, alongside increased smartphone sales [3] - The introduction of AI in edge devices, such as smartphones, is expected to drive demand for advanced packaging solutions, where Amkor has a strong market position [3] - However, the Automotive and Industrial market is anticipated to negatively impact overall performance due to inventory control measures by customers, with a reported 22% revenue decline in the first quarter [3] Cost Considerations - Amkor's bottom-line performance may be adversely affected by rising operating expenses, projected at approximately $135 million for the second quarter, a 22% increase from $110.5 million in the previous year, primarily due to costs associated with a new factory in Vietnam [4] Earnings Prediction Model - The current model does not predict a definitive earnings beat for Amkor, as it holds a Zacks Rank of 3 and an Earnings ESP of -1.49% [5]

Core Viewpoint - Wall Street anticipates a year-over-year decline in earnings for Amkor Technology due to lower revenues, with a focus on how actual results compare to estimates impacting stock price [1][2]. Earnings Expectations - Amkor Technology is expected to report quarterly earnings of $0.22 per share, reflecting a year-over-year decrease of 15.4% [2]. - Revenue projections stand at $1.45 billion, which is a slight decline of 0.4% from the previous year [2]. Estimate Revisions - The consensus EPS estimate has been revised down by 3.12% over the last 30 days, indicating a bearish sentiment among analysts [2]. - The Most Accurate Estimate for Amkor Technology is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -1.49% [5]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive reading typically indicates a likely earnings beat, but Amkor's negative ESP reading complicates predictions of a positive surprise [3][4][6]. - Despite a history of beating consensus estimates, the current combination of a negative Earnings ESP and a Zacks Rank of 3 makes it challenging to predict an earnings beat for Amkor [5][6][7]. Historical Performance - In the last reported quarter, Amkor Technology exceeded expectations by posting earnings of $0.24 per share against an estimate of $0.10, resulting in a surprise of +140% [7]. - The company has successfully beaten consensus EPS estimates in the last four quarters [7]. Conclusion - While Amkor Technology does not appear to be a strong candidate for an earnings beat, investors should consider other factors influencing stock performance ahead of the earnings release [8].

Group 1 - Amkor Technology (AMKR) closed at $41.41, with a +0.46% change, outperforming the S&P 500's loss of 0.78% [1] - The company's shares gained 2.82% over the past month, contrasting with the Computer and Technology sector's loss of 3.17% and the S&P 500's gain of 2.14% [1] - Amkor Technology's upcoming earnings report is scheduled for July 29, 2024, with projected EPS of $0.22, indicating a 15.38% decline year-over-year, and expected revenue of $1.45 billion, down 0.42% from the previous year [1] Group 2 - For the fiscal year, Zacks Consensus Estimates project earnings of $1.76 per share and revenue of $6.55 billion, reflecting increases of +20.55% and +0.7% respectively from the prior year [2] - Recent revisions to analyst forecasts for Amkor Technology are important as they indicate short-term business trends and can influence stock price performance [2] - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), shows Amkor Technology currently holds a Zacks Rank of 3 (Hold) [3] Group 3 - Amkor Technology's Forward P/E ratio is 23.39, which is lower than the industry's average Forward P/E of 35.42, indicating a valuation discount [3] - The Electronics - Semiconductors industry, part of the Computer and Technology sector, has a Zacks Industry Rank of 89, placing it in the top 36% of over 250 industries [3] - The Zacks Industry Rank measures the strength of industry groups, with the top 50% rated industries outperforming the bottom half by a factor of 2 to 1 [4]

Group 1 - Amkor Technology (AMKR) stock closed at $42.12, with a daily increase of +0.43%, underperforming the S&P 500's gain of 0.55% [1] - Over the past month, Amkor Technology shares have increased by 19.56%, outperforming the Computer and Technology sector's gain of 5.73% and the S&P 500's gain of 4.28% [1] - The upcoming earnings report on July 29, 2024, is expected to show earnings of $0.22 per share, reflecting a year-over-year decline of 15.38%, with revenue anticipated at $1.45 billion, a 0.42% decrease from the previous year [1] Group 2 - Full-year Zacks Consensus Estimates predict earnings of $1.76 per share and revenue of $6.55 billion for Amkor Technology, indicating year-over-year increases of +20.55% and +0.7%, respectively [2] - Recent adjustments to analyst estimates for Amkor Technology are seen as indicators of the company's business outlook, with positive revisions suggesting optimism [2] - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), currently ranks Amkor Technology at 3 (Hold), with a recent 1.17% decline in the Zacks Consensus EPS estimate [3] Group 3 - Amkor Technology has a Forward P/E ratio of 23.8, which is lower than the industry average Forward P/E of 37.64, indicating it is trading at a discount compared to its peers [3] - The Electronics - Semiconductors industry, to which Amkor Technology belongs, has a Zacks Industry Rank of 166, placing it in the bottom 35% of over 250 industries [3] - The Zacks Industry Rank measures the strength of industry groups based on the average Zacks Rank of individual stocks, with the top 50% rated industries outperforming the bottom half by a factor of 2 to 1 [4]

Core Viewpoint - Amkor Technology (AMKR) has shown significant stock performance, returning +20.2% over the past month, outperforming the Zacks S&P 500 composite's +3.4% change, indicating strong investor interest and potential for future growth [1] Earnings Estimate Revisions - The current quarter's earnings estimate for Amkor Technology is $0.23 per share, reflecting a year-over-year decline of -11.5%, with the Zacks Consensus Estimate remaining unchanged over the last 30 days [2] - For the current fiscal year, the consensus earnings estimate is $1.78, indicating a year-over-year increase of +21.9%, with no changes in the estimate over the past month [3] - The next fiscal year's consensus earnings estimate is $2.47, suggesting a year-over-year increase of +38.8%, also remaining unchanged recently [3] Revenue Growth Potential - The consensus sales estimate for the current quarter is $1.45 billion, showing a slight year-over-year decline of -0.4%. For the current and next fiscal years, sales estimates are $6.56 billion and $7.3 billion, indicating growth of +0.9% and +11.2%, respectively [5] Last Reported Results and Surprise History - In the last reported quarter, Amkor Technology generated revenues of $1.37 billion, a year-over-year decrease of -7.2%, while EPS was $0.24, up from $0.18 a year ago [6] - The reported revenues exceeded the Zacks Consensus Estimate of $1.35 billion by +1%, and the EPS surprise was +140% [6] - The company has consistently beaten consensus EPS estimates in the last four quarters and topped revenue estimates twice during this period [6] Valuation - Amkor Technology is graded B on the Zacks Value Style Score, indicating it is trading at a discount compared to its peers, suggesting potential undervaluation [9] - Valuation multiples such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF) are essential for assessing whether the stock is fairly valued [7][8] Conclusion - The Zacks Rank 1 for Amkor Technology suggests it may outperform the broader market in the near term, supported by strong earnings estimate revisions and valuation metrics [10]

Company Performance - Amkor Technology (AMKR) closed at $39.09, reflecting a -0.2% change from the previous day, underperforming the S&P 500's 0.16% gain [1] - Over the past month, Amkor's shares have increased by 17.07%, significantly outperforming the Computer and Technology sector's gain of 5.94% and the S&P 500's gain of 3.22% [1] - The upcoming earnings report is anticipated to show an EPS of $0.23, indicating an 11.54% decline from the same quarter last year, with projected revenue of $1.45 billion, down 0.35% year-over-year [1] Full Year Estimates - For the full year, analysts expect earnings of $1.78 per share and revenue of $6.56 billion, representing increases of +21.92% and +0.92% respectively from the previous year [2] - Recent modifications to analyst estimates are crucial as they reflect short-term business trends, with positive revisions indicating a favorable business outlook [2] Zacks Rank and Valuation - Amkor Technology currently holds a Zacks Rank of 1 (Strong Buy), which has historically delivered an average annual return of +25% since 1988 [3] - The company is trading at a Forward P/E ratio of 21.96, which is significantly lower than the industry average Forward P/E of 39.34, indicating a valuation discount [3] - The Electronics - Semiconductors industry, part of the Computer and Technology sector, has a Zacks Industry Rank of 181, placing it in the bottom 29% of over 250 industries [3]

Core Viewpoint - Amkor Technology (AMKR) has experienced significant stock price appreciation, with a 22.2% increase over the past month and a 20.5% gain since the beginning of the year, outperforming the broader technology sector and semiconductor industry [1][2]. Financial Performance - Amkor Technology has consistently exceeded earnings expectations, reporting an EPS of $0.24 against a consensus estimate of $0.1 in its latest earnings report [2]. - For the current fiscal year, the company is projected to achieve earnings of $1.78 per share on revenues of $6.56 billion, reflecting a 21.92% increase in EPS and a 0.92% increase in revenues [2]. - The forecast for the next fiscal year indicates expected earnings of $2.47 per share on $7.3 billion in revenues, representing year-over-year changes of 38.76% and 11.16%, respectively [2]. Valuation Metrics - Amkor Technology's current valuation metrics show a price-to-earnings ratio of 22.5X for the current fiscal year, which is below the peer industry average of 40.5X [4]. - On a trailing cash flow basis, the stock trades at 9.9X compared to the peer group's average of 17.1X, indicating a relative undervaluation [4]. Zacks Rank and Style Scores - The stock holds a Zacks Rank of 1 (Strong Buy), driven by rising earnings estimates, which suggests a favorable outlook for the stock [5]. - Amkor Technology has a Value Score of B, a Growth Score of B, and a Momentum Score of D, resulting in a combined VGM Score of B, aligning with investment strategies favoring stocks with strong Zacks Ranks and Style Scores [3][5].

Company Performance - Amkor Technology (AMKR) closed at $35.08, down 1.52% from the previous trading session, underperforming the S&P 500's gain of 0.23% [1] - Over the past month, Amkor's shares increased by 5.45%, outperforming the Computer and Technology sector's decline of 2.01% and the S&P 500's gain of 3.96% [1] - Analysts expect Amkor to report earnings of $0.23 per share, reflecting a year-over-year decline of 11.54%, with revenue projected at $1.45 billion, a decrease of 0.35% compared to the same quarter last year [1] Earnings Estimates - For the full year, Zacks Consensus Estimates project earnings of $1.78 per share and revenue of $6.56 billion, representing increases of 21.92% and 0.92% respectively from the prior year [2] - Recent revisions to analyst estimates indicate positive sentiment regarding Amkor's business outlook, as these revisions correlate with stock price performance [2] Zacks Rank and Valuation - Amkor Technology currently holds a Zacks Rank of 1 (Strong Buy), with an average annual return of +25% for 1 stocks since 1988 [3] - The company's Forward P/E ratio is 19.97, which is a discount compared to the industry average Forward P/E of 41.83 [3] - The Electronics - Semiconductors industry, part of the Computer and Technology sector, has a Zacks Industry Rank of 167, placing it in the bottom 34% of over 250 industries [3]

Core Viewpoint - Amkor Technology (AMKR) is currently experiencing a mixed performance in the stock market, with a recent return of +2.3% over the past month, lagging behind the S&P 500's +3.1% and the Zacks Electronics - Semiconductors industry's +7.2% [1] Earnings Estimates Revisions - For the current quarter, Amkor Technology is expected to report earnings of $0.23 per share, reflecting a decrease of -11.5% year-over-year [3] - The consensus earnings estimate for the current fiscal year is $1.78, indicating an increase of +21.9% from the previous year [3] - For the next fiscal year, the earnings estimate is $2.47, suggesting a growth of +38.8% compared to the prior year [3] Revenue Growth Potential - The consensus sales estimate for the current quarter is $1.45 billion, which represents a slight decline of -0.4% year-over-year [5] - The sales estimates for the current and next fiscal years are $6.56 billion and $7.3 billion, indicating growth rates of +0.9% and +11.2%, respectively [5] Recent Performance and Surprise History - In the last reported quarter, Amkor Technology generated revenues of $1.37 billion, down -7.2% year-over-year, while EPS was $0.24, up from $0.18 a year ago [6] - The company exceeded the Zacks Consensus Estimate for revenues by +1% and had an EPS surprise of +140% [6] - Amkor has consistently beaten consensus EPS estimates in the last four quarters and topped revenue estimates twice during this period [6] Valuation Metrics - Amkor Technology is graded B in the Zacks Value Style Score, indicating it is trading at a discount compared to its peers [9] - Valuation multiples such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF) are essential for assessing whether the stock is fairly valued [7] Overall Outlook - The Zacks Rank 1 (Strong Buy) for Amkor Technology suggests a potential for outperforming the broader market in the near term [4][10]