Amkor Technology, Inc.

How has the stock done?

Change in closing price from the first day shown, or with Price the closing price itself. Prices: Yahoo Finance, to Nov 12, 2026. Dashed lines: the days the company released earnings (its SEC 8-K filings); EPS estimates: Yahoo Finance. The stock's move after a release runs from the last close before its day to the close the day after (or five days after), so a release before the open counts like one after the close.

Is the business growing?

In the fiscal year to Dec 2025, Advanced Products was 83% and Mainstream Products was 17% of revenue; Mainstream Products fell from 23% in the fiscal year to Dec 2023.

In the fiscal year to Dec 2025, United States was 66% and Europe, Middle East and Africa was 13% of revenue; United States rose from 59% in the fiscal year to Dec 2023.

Quarters: Amkor Technology, Inc.'s SEC filings, named by the month they end. Fiscal years: Amkor Technology, Inc.'s annual reports to the SEC.

How it makes money

Of every $100 in revenue, $5.6 ends up as net income. Net margin fell from 10.8% to 5.6% over the past 3 years.

Each margin is that line of the income statement divided by revenue. Fiscal year: Amkor Technology, Inc.'s annual reports to the SEC; quarters: SEC filings.

Where it is in the chip cycle

Gross margin 18.3% and rising for 2 quarters; inventory at 28 days, up from 21 a year earlier; capital spending 22.4% of revenue over the last 4 quarters.

Gross margin by fiscal quarter, from SEC filings. Inventory days: year-end inventory over that year's cost of revenue, times 365.

Customers and suppliers

In its latest annual report Amkor Technology sells to Apple, Qualcomm; it names no suppliers. Amkor Technology’s blog post names Henkel as a supplier. ASMPT’s press release names Amkor Technology as a customer. Senju Metal Industry’s press release names Amkor Technology as a customer. BE Semiconductor Industries’s annual report for 2025 names Amkor Technology as a customer.

Suppliers

ASMPT 0522.HK

BE Semiconductor Industries BESI.AS

Henkel HEN3.DE

S

Senju Metal Industry

 

AMKRAmkor Technology

Customers

Apple AAPL 30%

Qualcomm QCOM 11%

Astera Labs ALAB

Broadcom AVGO

Credo Technology Group Holding CRDO

Their customers

Fortinet FTNTfrom Qualcomm, Broadcom

Xiaomi XIACFfrom Qualcomm

Samsung 005930.KSfrom Qualcomm

Amazon AMZNfrom Astera Labs, Credo Technology Group Holding

Arista Networks ANETfrom Broadcom

Cisco Systems CSCOfrom Broadcom

Show 6

Amkor Technology's 10-K for the year to Dec 2025 gives two customers' shares of its revenue: First Largest Customer (29.8%) and Second Largest Customer (11.1%).

From Amkor Technology, Inc.'s 10-Q and 10-K filings (XBRL): each customer whose share of revenue a filing tags, under the filing's own label, so “Customer A” in one filing can be another company in the next; a later filing's figures for a period replace an earlier one's.

Changes since the previous annual report (10-K filed Feb 21, 2025)

Apple AAPLCustomer, share of revenue30.8% → 29.8%

Only the companies Amkor Technology names in its 10-K filed Feb 20, 2026 (SEC). The supply chain joins the latest annual reports of the companies on it and the 8-Ks they filed since: a link shows when either side's report names the other, so it grows as more reports are read. Also from other documents: Amkor Technology’s blog post, published Apr 17, 2025 (source); ASMPT’s press release, published Dec 9, 2025 (source); Senju Metal Industry’s press release, published Feb 13, 2026 (source); BE Semiconductor Industries’s annual report for 2025, filed Mar 16, 2026 (source). Hover a name for the filing's own words.

Is it expensive?

P/E of 15x, below the peer median of 34.8x, with earnings still growing.

Priced 57% below the peer median of 34.8x.

At 15.0× trailing earnings AMKR is inside the middle of its five-year range; the five-year median is 16.8×.

Closing price over diluted earnings per share of the last four reported quarters, as known on each day (a quarter counts 35 days after it ends). From SEC filings; earnings per share adjusted for splits.

What analysts expect

The average analyst price target is $66.00, 78% above the current price; 64% of 11 analysts rate it a buy; earnings beat estimates in 3 of the last 4 quarters.

Buy or Strong Buy: 7 analysts (64%). Sell or Strong Sell: 0.

Over the past year the average of the analysts' latest price targets went from $33.62 to $63.20 (+88%), while AMKR went from $31.95 to $37.12 (+16%). In the past three months targets were cut 5 times and never raised. 1 upgrade and 1 downgrade over the year; the latest: UBS moved it to Buy from Neutral on Jul 25, 2026.

The day after each of these reports the stock moved +8.3% (Dec 2025, beat); −8.6% (Mar 2026, beat); −29.7% (Jun 2026, beat); +1.6% (Sep 2026, missed).

For the quarter ending Dec 2026, analysts expect adjusted earnings of $0.72 a share, and revenue of $2.0B, up 4% on a year earlier. For the fiscal year ending Dec 2027, they expect adjusted earnings of $2.78 a share, 11% more than the year before's estimate of $2.50, and revenue of $8.6B, up 14% on the year before's estimate.

Targets, ratings and earnings estimates: Yahoo Finance. Rating and target changes: Yahoo Finance's list of upgrades and downgrades. The average target on each day is the average of every listed firm's latest target set in the 180 days before it, so it counts fewer analysts than the average target above, and the band is the middle half of those targets (a quarter of the firms are above it, a quarter below); a target set before a stock split is divided by the split. Expected figures: the average of the analysts' estimates (Yahoo Finance). Their EPS is adjusted, as analysts estimate it, so it is set against the adjusted EPS Yahoo reports for the same quarters, not the GAAP EPS of the growth and valuation sections; revenue against the SEC filings. No change is given against a quarter whose reported EPS was more than 50% off its own estimate (often a one-off gain or charge), nor against a year that counts one. Each estimate is pinned to its fiscal period by the report date or the period's end, and one that cannot be is left out.

Where the cash goes

Capex of $1.7B exceeds operating cash flow of $1.5B, leaving free cash flow of −$160M. It still paid $80M to shareholders (dividends plus buybacks), so $240M had to come from cash on hand or borrowing.

Amkor Technology had 250M diluted shares in the quarter ended Sep 2026, 0.5% more than a year earlier, and 0.5% more each year on average since Jun 2020. Over the last four quarters its earnings per share rose 98.4% and its net income rose 101.3%: more shares took about 3 points off.

Free cash flow: operating cash flow minus capital spending on property, plant and equipment, from SEC filings, for the last 4 quarters and by quarter. Shares: each quarter's diluted weighted average as filed with the SEC, since the stock's listing and its latest split.

Financial health

Current ratio 2.3, no pressure to repay short-term debt; debt-to-equity 0.3, debt is very low and the balance sheet is solid.

Latest fiscal year balance sheet. Source: Yahoo Finance.

Who holds it

In the filings of 8 funds whose copy leaves AMKR out (on the exchange, not in the app yet): Light Street Capital Management, Fisher Asset Management, Norges Bank, Swiss National Bank, Maverick Capital, Mirae Asset Global Investments and 2 more.

What did the funds Hunch tracks do?

Of the 83 funds whose 13F filings Hunch reads, 11 held AMKR at the end of their latest quarter (for most, Q2 2026). Over that quarter 5 added shares, 3 cut and 3 bought new. The largest of them is Norges Bank, 1.48M shares worth $127M at Jun 30, 2026, 8.6% more than at Dec 31, 2025.

From the 13F filings of the 83 funds Hunch tracks, not of every institution: each fund's shares of AMKR at its latest quarter end against the quarter before, as filed (long positions only, options left out), the quarter before put on the latest quarter's share count across a split. A fund files 45 days after its quarter ends, so some have a newer quarter than others. Value is at the quarter end. Norges Bank filed its 13F for Q1 2026 confidentially, with no holdings made public, so its row compares Q2 2026 with Q4 2025.

Are insiders buying or selling?

Officers and directors sold $22.4M of AMKR on the open market in the 12 months to Nov 10, 2026; none bought. 29% of the sales were made under 10b5-1 plans, set up in advance. The largest was Guillaume Marie Jean Rutten (Director), who sold $9.2M in 8 sales.

From the Form 4s filed with the SEC about Amkor Technology, Inc. (138 in the 12 months): purchases (code P) and sales (code S) on the open market by its officers and directors, at the price each filing gives (often an average of the day's trades). A sale is a 10b5-1 sale when its filing says it was made under such a plan, set up in advance. Not counted: 144 other transactions (grants, option exercises, shares withheld for tax and gifts). Also not counted: 2 trades by holders of more than 10% who are neither officers nor directors.