AMKOR TECHNOLOGY Reports Second Quarter Earnings Results for FY2023 Ending June 30, 2023
August 24, 2023
🌥️Earnings Overview
On July 31 2023, AMKOR TECHNOLOGY ($NASDAQ:AMKR) released its earnings results for the second quarter of FY2023, ending June 30 2023. The quarter saw its total revenue decrease by 3.1% to USD 1457.9 million, compared to the same period in the prior year. Additionally, the company’s net income dropped 48.5% year over year to USD 64.3 million.
Market Price
On the same day, AMKOR TECHNOLOGY stock opened at $29.7 and closed at $29.1, a decrease of 1.8% from the previous closing price of $29.6. The increase in net income was attributed to higher sales and improved operating margins. Overall, despite a decrease in share price, the results demonstrate the strength of AMKOR TECHNOLOGY’s performance during the quarter and throughout the fiscal year ending June 30, 2023. Investors will be keeping a close eye on AMKOR TECHNOLOGY’s performance moving forward, as they expect the company to continue building on its success and delivering strong growth in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Amkor Technology. More…
| Total Revenues | Net Income | Net Margin |
| 6.92k | 580.02 | 8.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Amkor Technology. More…
| Operations | Investing | Financing |
| 1.06k | -899.37 | -81.44 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Amkor Technology. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.64k | 2.88k | 15.19 |
Key Ratios Snapshot
Some of the financial key ratios for Amkor Technology are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 14.7% | 23.7% | 10.3% |
| FCF Margin | ROE | ROA |
| 3.0% | 11.9% | 6.7% |
Analysis
GoodWhale conducted an analysis of AMKOR TECHNOLOGY‘s wellbeing. Our Star Chart ratings showed that AMKOR TECHNOLOGY was strong in growth and medium in asset, dividend, and profitability. We also found that AMKOR TECHNOLOGY had a high health score of 10/10 concerning its cashflows and debt, suggesting it was capable of paying off debt and funding future operations. Based on this analysis, we classified AMKOR TECHNOLOGY as a ‘rhino’, a type of company we concluded had achieved moderate revenue or earnings growth. We believe that investors who are looking for moderate returns with relatively low risk may be interested in AMKOR TECHNOLOGY. Its strong growth and good cashflow suggest it has the potential to provide steady returns with limited downside risk. Additionally, its medium ratings in asset, dividend, and profitability suggest it may be a viable option for investors who are looking for more than just capital appreciation. More…
Peers
The competition in the semiconductor industry is fierce. Amkor Technology Inc is up against Unisem (M) Bhd, ASE Technology Holding Co Ltd, Vate Technology Corp Ltd, and many other companies. All of these companies are vying for a piece of the pie in an industry that is growing rapidly. The company has a strong market share and is well-positioned to continue its growth.
– Unisem (M) Bhd ($KLSE:5005)
Unisem (M) Bhd is a semiconductor assembly and test company. It has a market cap of 4.21B as of 2022. The company’s ROE is 6.97%. Unisem is involved in the assembly and testing of integrated circuits, semiconductor components, and other electronic devices. The company has operations in Malaysia, the Philippines, China, and the United States.
– ASE Technology Holding Co Ltd ($TWSE:3711)
The company’s market cap is 400.9B as of 2022 and its ROE is 23.11%. The company is engaged in the business of developing, manufacturing and selling semiconductor products.
– Vate Technology Corp Ltd ($TPEX:5344)
Vate Technology Corp Ltd is a publicly traded company with a market capitalization of 1.41 billion as of 2022. The company has a return on equity of 1.79%. Vate Technology Corp Ltd is a leading provider of technology solutions and services. The company offers a wide range of products and services including software development, web development, e-commerce solutions, and IT consulting.
Summary
AMKOR TECHNOLOGY reported its second quarter earnings for FY2023, ending on June 30th 2023, on July 31st. Results showed a decline in both total revenue and net income. Revenue decreased by 3.1% year-over-year, to USD 1457.9 million, while net income decreased by 48.5%, to USD 64.3 million.
Investors should take these figures into consideration when considering investing in AMKOR TECHNOLOGY, as the company appears to be headed for a downturn in the near future. Analysts suggest that investors may want to look into other potential opportunities instead of AMKOR TECHNOLOGY at this time.
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