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Amkor Technology (AMKR) Outpaces Stock Market Gains: What You Should Know

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Amkor Technology (AMKR - Free Report) closed at $12.98 in the latest trading session, marking a +0.46% move from the prior day. This change outpaced the S&P 500's 0.19% gain on the day. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq added 0.08%.

Heading into today, shares of the chip packaging and test services provider had lost 0.15% over the past month, lagging the Computer and Technology sector's gain of 6.59% and the S&P 500's gain of 3.72% in that time.

Wall Street will be looking for positivity from AMKR as it approaches its next earnings report date. On that day, AMKR is projected to report earnings of $0.22 per share, which would represent year-over-year growth of 83.33%. Our most recent consensus estimate is calling for quarterly revenue of $1.09 billion, up 1.26% from the year-ago period.

Investors might also notice recent changes to analyst estimates for AMKR. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. AMKR currently has a Zacks Rank of #2 (Buy).

Digging into valuation, AMKR currently has a Forward P/E ratio of 16.15. This valuation marks a discount compared to its industry's average Forward P/E of 24.71.

The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 34, which puts it in the top 14% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

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