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Surging Earnings Estimates Signal Good News for Amkor (AMKR)

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Amkor Technology, Inc.  (AMKR - Free Report) , a semiconductor product packaging and test services provider, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on AMKR’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Amkor Technology could be a solid choice for investors.

Current Quarter Estimates for AMKR

In the past 30 days, 1 estimate have gone higher for Amkor Technology while no estimates have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 23 cents a share 30 days ago, to 27 cents today, a move of 17.4%.

Current Year Estimates for AMKR

Meanwhile, Amkor Technology’s current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to no lower estimates. The consensus estimate trend has also seen a boost for this time frame, increasing from 44 cents per share 30 days ago to 53 cents per share today, an increase of 20.5%.

AMKOR TECH INC Price and Consensus

AMKOR TECH INC Price and Consensus | AMKOR TECH INC Quote

Bottom Line

The stock has also started to move higher lately, adding 19.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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