Amkor Technology (AMKR)
NASDAQInformation TechnologySemiconductorsSnapshot 2026-09-09
$51.35+1.24%
Close 2026-09-09 · 1-day change
NASDAQInformation TechnologySemiconductorsSnapshot 2026-09-09
Warn: Primary pillar under pressure — Gross margin near 15% in Q2 2026: 16.8% vs ~15% target.
Amkor benefits from a strong 10-year deal with TSMC boosting revenue growth. Revenue is expected near $1.8 billion next quarter with gross margin around 15%. The company maintains steady dividends and invests in growth via $2.75 billion capex in 2026. Recent earnings beat with 27% revenue growth shows solid execution.
Revenue growth has stalled near $6.7 billion in 2025 despite management focus. The recent 30% stock drop signals market concerns. Debt issuance raises capital but adds risk. Margins remain thin near 15%, limiting profit expansion.
The price is about 12% above our fair value near $59, below the Street median of $74. Analysts expect 13% revenue growth, which aligns with company guidance. Our view is more cautious on growth sustainability given recent flat revenue trends.
Breaks if: Capex falls below $2.5B or dividend per share drops below $0.08 in 2026
Breaks if: EPS falls below $0.57 in Q3 2026
Breaks if: Gross margin falls below 14.5% in Q2 2026
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
AMKR represents a durable compounder in the tech sector, focusing on advanced packaging and test capacity. The current thesis state is intact, supported by strong recent financial performance, although confidence has shifted to medium.
The market appears to have priced in a justified valuation, with AMKR being seen as cheap compared to its peers. There is a slight expectations gap, indicating that some positive developments may not be fully reflected in the stock's current valuation.
Fundamentals are likely to remain strong, as management is on track with its priorities, including revenue growth and margin improvement. However, there is a near-term risk of earnings misses, although the probability is low.
The thesis hinges on several factors, including the potential for the Fed to cut rates, which could benefit AMKR and similar tech companies. Additionally, the performance of major sector players like NVDA, TSM, and AVGO will be crucial in determining AMKR's trajectory.
The most important moves since the prior daily snapshot.
Yes, our read has strengthened. The latest earnings beat supports this view. Amkor is expanding its advanced packaging and test capacity. This expansion aligns with their growth objectives. There are no new threats impacting the thesis.
as of 2026-09-09
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Breaks if: Revenue falls below $1.75 billion in Q2 2026
Drive revenue growth through broad-based end market demand and expanded advanced packaging solutions.
Stated as a priority in 3 of last 3 quarters. Revenue increased from $1.511 billion in 2025-Q2 to $1.898 billion in 2026-Q2, a 25.5% growth. Management highlighted broad-based end market demand driving record revenue. The trajectory shows delivering consistent revenue growth aligned with management’s stated priority.
“Record second quarter net sales $1.90 billion, up 26% year-on-year.”
“Record first quarter net sales $1.68 billion, up 27% year-on-year.”
“Fourth quarter net sales $1.89 billion, up 16% year-on-year.”
Overall, AMKR's long-term prospects appear solid, but investors should remain aware of the inherent risks and external factors that could impact performance. Not investment advice.