Amkor Technology (AMKR) ended the recent trading session at $29.97, demonstrating a -1.09% swing from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.05%. Meanwhile, the Dow lost 0.02%, and the Nasdaq, a tech-heavy index, added 0.18%.

The chip packaging and test services provider's stock has dropped by 2.32% in the past month, falling short of the Computer and Technology sector's gain of 3.5% and the S&P 500's gain of 2.76%.

Market participants will be closely following the financial results of Amkor Technology in its upcoming release. The company plans to announce its earnings on October 28, 2024. The company is expected to report EPS of $0.50, down 7.41% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.83 billion, up 0.62% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.55 per share and revenue of $6.51 billion, indicating changes of +6.16% and +0.15%, respectively, compared to the previous year.

It is also important to note the recent changes to analyst estimates for Amkor Technology. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Amkor Technology presently features a Zacks Rank of #3 (Hold).

In terms of valuation, Amkor Technology is currently trading at a Forward P/E ratio of 19.6. This expresses a discount compared to the average Forward P/E of 29.45 of its industry.

The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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