BUZZ-Amkor slides on worse-than-expected Q4 sales, profit forecast

Reuters
2024-10-29

** Shares of semiconductor packaging and test services provider Amkor Technology fall 11% to ~$26, after the bell

** Company forecast Q4 sales to range between $1.6 bln and $1.7 bln, lower than analysts' estimate of $1.84 bln, according to data compiled by LSEG

** Company expects EPS between 28 and 44 cents, compared to Wall Street expectations of 55 cents

** Reports Q3 revenue of $1.86 bln vs ests. of $1.84 bln

** Posts Q3 EPS of 49 cents vs ests. of 50 cents

** Six of 11 brokerages rate the stock "buy" or higher, four "hold" and one "sell"; their median PT is $40

(Reporting by Aishwarya Jain in Bengaluru)

((Aishwarya.Jain@thomsonreuters.com;))

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