For the first quarter Amkor reported earnings for 9 cents a share, beating analysts' estimates of 2 cents a share by 7 cents. Revenue for the chipmaker grew 1.2% from the year-ago quarter to $696 million. Analysts surveyed by Thomson Reuters expected revenue of $678.13 million for the quarter.
"First quarter results were stronger than we anticipated, driven by incremental demand for advanced packages," Amkor president and CEO Steve Kelley said in a statement. "We made solid progress in winning key mobile device opportunities, expanding our customer base and driving improved profitability."
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TheStreet Ratings team rates AMKOR TECHNOLOGY INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate AMKOR TECHNOLOGY INC (AMKR) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we also find weaknesses including poor profit margins and generally higher debt management risk."