Upside case
Bull case
$211+175.1%
AMKR would need investors to value it at roughly 100x earnings — about 64x more generous than today's 36x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewHoldUpdated May 1, 2026
Amkor Technology, Inc. (AMKR) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Hold
Covering
14
analysts
6 bullish · 1 bearish · 14 covering AMKR
Strong Buy
0
Buy
6
Hold
7
Sell
1
Strong Sell
0
Consensus Target
$67
-13.0% vs today
Scenario Range
$56 – $211
Model bear to bull value window
Coverage
14
Published analyst ratings
Valuation Context
36.5x
Forward P/E · Market cap $19.0B
AMKR price targets
Three scenarios for where AMKR stock could go
Current
~$77
Confidence
60 / 100
Updated
May 1, 2026
Where we are now
Current · $77
Bear
$56
Base
$100
Bull
$211
Market caseClosest to today
Base case
$100+29.9%
At 47x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$56-26.5%
If investor confidence fades or macro conditions deteriorate, a 10x multiple contraction could push AMKR down roughly 27% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Amkor Technology, Inc.
AMKR · NASDAQTechnologySemiconductorsDecember year-end
Amkor Technology is a leading provider of outsourced semiconductor packaging and testing services for chipmakers worldwide. It generates revenue primarily from turnkey packaging and test services — including wafer bumping, package design, assembly, and final testing — with advanced packaging solutions like flip-chip and wafer-level packages driving growth. The company's competitive advantage lies in its scale as one of the largest OSAT (outsourced semiconductor assembly and test) providers, deep technical expertise in advanced packaging technologies, and long-standing relationships with major semiconductor manufacturers.
Market Cap
$19.0B
Revenue TTM
$7.1B
Net Income TTM
$436M
Net Margin
6.2%
AMKR Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
83%Exceptional
12 quarters tracked
Revenue Beat Rate
67%Exceptional
vs consensus estimates
Avg EPS Surprise
+25.8%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$0.22/$0.16
Revenue
$1.5B/$1.9B
Q4 2025
EPS
$0.51/$0.42
Revenue
$2.0B/$1.8B
Q1 2026
EPS
$0.69/$0.43
Revenue
$1.9B/$1.8B
Q2 2026
EPS
$0.33/$0.23
Revenue
$1.7B/$1.6B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $0.22/$0.16 | +37.5% | $1.5B/$1.9B | -21.8% |
| Q4 2025 | $0.51/$0.42 | +21.4% | $2.0B/$1.8B | +8.0% |
| Q1 2026 | $0.69/$0.43 | +60.5% | $1.9B/$1.8B | +2.7% |
| Q2 2026 | $0.33/$0.23 | +43.5% | $1.7B/$1.6B | +3.3% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$7.4B
+4.4% YoY
FY2
$7.7B
+4.7% YoY
EPS Outlook
FY1
$1.86
+6.2% YoY
FY2
$1.95
+5.0% YoY
Trailing FCF (TTM)$392M
FCF Margin: 5.5%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
AMKR beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
AMKR Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $6.7B
Product Mix
Latest annual revenue by segment or product family
Advanced Products
82.8%
+7.4% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
UNITED STATES
48.8%
+10.4% YoY
Tap, hover, or focus a slice to inspect segment detail.
Advanced Products is the largest disclosed segment at 82.8% of FY 2025 revenue, up 7.4% YoY.
UNITED STATES is the largest reported region at 48.8%, up 10.4% YoY.
AMKR Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Fairly Valued
Fair value est. $72 — implies +1.3% from today's price.
Upside to Fair Value
1.3%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
AMKR
51.1x
vs
S&P 500
25.1x
+104% premium
vs Technology Trailing P/E
AMKR
51.1x
vs
Technology
26.7x
+91% premium
vs AMKR 5Y Avg P/E
Today
51.1x
vs
5Y Average
16.8x
+204% premium
Forward PE
36.5x
S&P 500
19.1x
+91%
Technology
22.1x
+65%
5Y Avg
—
—
Trailing PE
51.1x
S&P 500
25.1x
+104%
Technology
26.7x
+91%
5Y Avg
16.8x
+204%
PEG Ratio
36.81x
S&P 500
1.72x
+2045%
Technology
1.52x
+2316%
5Y Avg
—
—
EV/EBITDA
17.3x
S&P 500
15.2x
+14%
Technology
17.5x
-1%
5Y Avg
6.5x
+165%
Price/FCF
99.5x
S&P 500
21.1x
+372%
Technology
19.5x
+410%
5Y Avg
26.9x
+270%
Price/Sales
2.8x
S&P 500
3.1x
-9%
Technology
2.4x
+16%
5Y Avg
1.1x
+155%
Dividend Yield
0.43%
S&P 500
1.87%
-77%
Technology
1.16%
-63%
5Y Avg
1.26%
-66%
| Metric | AMKR | S&P 500 | Technology | 5Y Avg AMKR |
|---|---|---|---|---|
| Forward PE | 36.5x | 19.1x+91% | 22.1x+65% | — |
| Trailing PE | 51.1x | 25.1x+104% | 26.7x+91% | 16.8x+204% |
| PEG Ratio | 36.81x | 1.72x+2045% | 1.52x+2316% | — |
| EV/EBITDA | 17.3x | 15.2x+14% | 17.5x | 6.5x+165% |
| Price/FCF | 99.5x | 21.1x+372% | 19.5x+410% | 26.9x+270% |
| Price/Sales | 2.8x | 3.1x | 2.4x+16% | 1.1x+155% |
| Dividend Yield | 0.43% | 1.87% | 1.16% | 1.26% |
AMKR trades above S&P 500 benchmarks on 5 of 6 measured multiples — commands a broad premium across most valuation dimensions.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolAMKR Financial Health
Verdict
Strong
Key financial metrics for AMKR are shown below.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$7.1B
Revenue Growth
TTM vs prior year
+12.7%
Gross Margin
Gross profit as a share of revenue
14.4%
Operating Margin
Operating income divided by revenue
7.6%
Net Margin
Net income divided by revenue
6.2%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$1.75
Free Cash Flow (TTM)
Cash generation after capex
$392M
FCF Margin
FCF as share of revenue — the primary cash quality signal
5.5%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
7.6%
ROA
Return on assets, trailing twelve months
5.4%
Cash & Equivalents
Liquid assets on the balance sheet
$1.4B
Net Debt
Total debt minus cash
$187M
Debt Serviceability
Net debt as a multiple of annual free cash flow
0.5× FCF
~0.5 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
9.9%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.4%
Dividend
0.4%
Buyback
0.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$0
Dividend / Share
Annualized trailing dividend per share
$0.33
Payout Ratio
Share of earnings distributed as dividends
21.9%
Shares Outstanding
Current diluted share count
248M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageAMKR Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Semiconductor Industry Cyclicality
AMKR's business is highly cyclical, directly influenced by global economic factors such as GDP and consumer spending. This cyclicality can lead to significant fluctuations in demand for semiconductor products, impacting revenue and profitability.
High Risk
Supply Chain Constraints
Shortages in critical components like advanced silicon and memory components pose a substantial risk to AMKR. These constraints could limit the company's ability to meet customer demand, potentially resulting in lost sales and market share.
High Risk
Customer Concentration and Demand Fluctuations
A large portion of AMKR's revenue is derived from the automotive industry, making it vulnerable to downturns in this sector. Loss of key customers or reduced orders can materially affect the company's operations and financial performance.
High Risk
Arizona Facility Expansion
The significant investment in the Arizona facility introduces multi-year execution risk, expected to dilute operating margins by 1-2% starting in 2027. This could impact profitability until the facility begins to realize scaling benefits.
Medium
Interest Rate and Credit Market Fluctuations
AMKR is exposed to fluctuations in interest rates, which can affect earnings and liquidity. Rising interest rates may increase funding costs for the company's debt, impacting overall financial health.
Medium
Technological Development and Competition
AMKR must continuously innovate and protect its proprietary technology to remain competitive. The presence of established players and new entrants in the semiconductor market increases the pressure on AMKR to maintain its technological edge.
Medium
Economic Slowdown
A general economic slowdown poses risks to AMKR's financial stability, particularly in conjunction with increased capital expenditures. Such downturns can lead to reduced demand for semiconductor products, affecting revenue.
Lower
Geopolitical and Trade Policies
Evolving trade policies and geopolitical developments can impact AMKR's operations and customer relationships. Changes in export controls or tariffs may affect the company's ability to conduct business internationally.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why AMKR Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
AI and HPC Packaging Tailwind
Amkor is well-positioned to benefit from the long-term demand for advanced packaging solutions like High-Density Fan-Out (HDFO), CoWoS, and InFO, which are crucial for AI accelerators and high-bandwidth memory. The company anticipates AI advanced packaging revenue to triple in calendar year 2026.
Record Revenue and Earnings Growth
Amkor reported record first-quarter 2026 revenue of $1.68 billion, a 27% year-over-year increase. Earnings per share (EPS) also significantly exceeded expectations, with Q1 2026 EPS at $0.33, beating forecasts by a substantial margin.
Strategic Capacity Expansion
The company is making significant investments in advanced packaging, including a multi-billion dollar Arizona campus, which is slated for initial production by mid-2027. This expansion is designed to meet future demand and strengthen its manufacturing capabilities in the US.
Strong Balance Sheet and Financial Flexibility
Amkor maintains a net cash position, providing ample room for capital expenditures, research and development, and potential mergers and acquisitions without relying on dilutive financing. As of March 31, 2026, the company held $1.8 billion in cash and short-term investments, with total liquidity of $2.9 billion.
Margin Improvement and Operating Leverage
Amkor has demonstrated margin improvement, with its net profit margin increasing to 6.2% in the trailing twelve months. The company is benefiting from operating leverage as revenue grows and is implementing cost management strategies to drive sustained margin improvement.
Customer Trust and Diversification
Amkor is a trusted partner for leading semiconductor companies, including NVIDIA, Samsung, Qualcomm, and TSMC. The company is also diversifying its geographic footprint and expanding into new facilities in the US, Korea, and Portugal to serve various markets like automotive and industrial.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
AMKR Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$76.71
52W Range Position
96%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$17.18
+346.5% from the low
52-Week High
$79.23
-3.2% from the high
1 Month
+63.11%
3 Month
+73.28%
YTD
+78.7%
1 Year
+331.7%
3Y CAGR
+52.6%
5Y CAGR
+31.1%
10Y CAGR
+30.0%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
AMKR vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
36.5x
vs 34.7x median
+5% above peer median
Revenue Growth
+4.4%
vs +6.4% median
-32% below peer median
Net Margin
6.2%
vs 3.9% median
+57% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
AMK AMKR Amkor Technology, Inc. | $19.0B | 36.5x | +4.4% | 6.2% | Hold | -13.0% |
ASX ASX ASE Technology Holding Co., Ltd. | $73.1B | 1.0x | +6.4% | 7.1% | Buy | — |
UTS UTSI UTStarcom Holdings Corp. | $23M | — | -34.5% | -62.0% | — | — |
TFI TFII TFI International Inc. | $11.1B | 26.2x | +15.3% | 3.9% | Buy | +1.1% |
ONT ONTO Onto Innovation Inc. | $15.2B | 43.1x | +20.6% | 10.3% | Buy | +1.1% |
ICH ICHR Ichor Holdings, Ltd. | $2.4B | 59.2x | +5.4% | -5.3% | Buy | -26.5% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
AMKR Dividend and Capital Return
AMKR returns 0.4% total yield, led by a 0.43% dividend.
Dividend SustainableFCF Well Covered
Total Shareholder Yield
0.4%
Dividend + buyback return per year
Buyback Yield
0.0%
Dividend Yield
0.43%
Payout Ratio
21.9%
How AMKR Splits Its Return
Div 0.43%
Dividend 0.43%Buybacks 0.0%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.33
Growth Streak
Consecutive years of dividend increases
0Y
3Y Div CAGR
13.8%
5Y Div CAGR
52.7%
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$0
Estimated Shares Retired
0
Approx. Share Reduction
0.0%
Shares Outstanding
Current diluted share count from the screening snapshot
248M
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.08 | — | — | — |
| 2025 | $0.33 | -54.2% | 0.0% | 0.8% |
| 2024 | $0.72 | +138.5% | 0.0% | 2.8% |
| 2023 | $0.30 | +35.0% | 0.0% | 0.9% |
| 2022 | $0.23 | +32.4% | 0.0% | 0.9% |
FAQ
7 questionsAMKR Investor Questions
Common questions answered from live analyst data and company financials.
01Is Amkor Technology, Inc. (AMKR) stock a buy or sell in 2026?
Amkor Technology, Inc. (AMKR) is rated Hold by Wall Street analysts as of 2026. Of 14 analysts covering the stock, 6 rate it Buy or Strong Buy, 7 rate it Hold, and 1 rate it Sell or Strong Sell. The consensus 12-month price target is $67, implying -13.0% from the current price of $77. The bear case scenario is $56 and the bull case is $211.
02What is the AMKR stock price target for 2026?
The Wall Street consensus price target for AMKR is $67 based on 14 analyst estimates. The high-end target is $90 (+17.3% from today), and the low-end target is $43 (-43.9%). The base case model target is $100.
03Is Amkor Technology, Inc. (AMKR) stock overvalued in 2026?
AMKR trades at 36.5x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals fairly valued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Amkor Technology, Inc. (AMKR) stock in 2026?
The primary risks for AMKR in 2026 are: (1) Semiconductor Industry Cyclicality — AMKR's business is highly cyclical, directly influenced by global economic factors such as GDP and consumer spending. (2) Supply Chain Constraints — Shortages in critical components like advanced silicon and memory components pose a substantial risk to AMKR. (3) Customer Concentration and Demand Fluctuations — A large portion of AMKR's revenue is derived from the automotive industry, making it vulnerable to downturns in this sector. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Amkor Technology, Inc.'s revenue and earnings forecast?
Analyst consensus estimates AMKR will report consensus revenue of $7.4B (+4.4% year-over-year) and EPS of $1.86 (+6.2% year-over-year) for the upcoming fiscal year. The following year, analysts project $7.7B in revenue.
06When does Amkor Technology, Inc. (AMKR) report its next earnings?
A confirmed upcoming earnings date for AMKR is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does Amkor Technology, Inc. generate?
Amkor Technology, Inc. (AMKR) generated $392M in free cash flow over the trailing twelve months — a free cash flow margin of 5.5%. AMKR returns capital to shareholders through dividends (0.4% yield) and share repurchases ($0 TTM).