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Investing.com - Needham has raised its price target on Amkor Technology (NASDAQ:AMKR) to $28.00 from $22.00 while maintaining a Buy rating following the company’s quarterly earnings report. The semiconductor packaging company, currently valued at $5.25 billion, is trading at $21.23 with a P/E ratio of 16.36. According to InvestingPro analysis, the stock appears slightly undervalued based on its Fair Value metrics.
The semiconductor packaging and test services provider delivered what Needham described as a "strong beat-and-raise quarter" with only a minor concern in gross margin guidance, which InvestingPro data shows currently stands at 14.17%. Amkor’s Communications revenue is expected to grow in strong double digits sequentially, which Needham estimates at approximately 64% quarter-over-quarter, bolstered by regaining socket placement in high-end smartphones. InvestingPro subscribers can access 12 additional key insights about Amkor’s financial health and growth prospects through the comprehensive Pro Research Report.
Amkor anticipates modest sequential growth in its Automotive and Industrial segments, while Consumer segment revenue is expected to remain flat quarter-over-quarter. The company also forecasts high single-digit percentage sequential growth in its Computing segment.
Needham noted that Amkor is optimistic about its 2.5D packaging outlook following the lifting of H20 restrictions. The firm highlighted that both NVIDIA (NASDAQ:NVDA) and Apple (NASDAQ:AAPL), which were previously bull cases for Amkor before setbacks in late 2024 due to export controls and smartphone socket loss, are now "making a strong comeback."
The price target increase reflects Needham’s higher estimates for Amkor based on these improved business conditions across multiple segments.
In other recent news, Amkor Technology Inc. reported its financial results for the second quarter of 2025, surpassing analysts’ expectations. The company achieved earnings per share (EPS) of $0.22, which was above the forecasted $0.16, resulting in a 37.5% positive surprise. Additionally, Amkor Technology’s revenue reached $1.51 billion, exceeding the anticipated $1.42 billion, marking a 6.34% surprise. These results highlight the company’s strong performance in the quarter. There were no reports of mergers or acquisitions involving Amkor Technology in the recent period. Analyst firms have not provided any recent upgrades or downgrades for the company. These developments reflect Amkor Technology’s current standing in the market.
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