Four consecutive earnings beats averaging approximately 38% above consensus and healthy price momentum demonstrate operational execution, but negative free cash flow, business quality below the 4.0 minimum threshold, roughly 83% revenue concentration in a single product category, and just 1.7% headroom to the near-term resistance target combine to make the current risk-adjusted setup unfavorable.
Thesis pillars
- Advanced Products Concentration Risk↑Improving
- Fcf Negative Quality Below Floor→Stable
- Earnings Beat Streak Four Quarters↓Deteriorating
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Feb 20, 2026
Amkor Technology, Inc. (AMKR) Stock Analysis
Technology · Semiconductor Equipment & Materials
Sell if holding. Multiple concerning factors at $42.21: Concentration risk — Product: Advanced Products (82.8%); V7 low-quality RISK_OFF penalty: -0.5 (Q=4.2).
Amkor Technology is the largest U.S.-headquartered outsourced semiconductor assembly and test service provider, offering packaging, wafer-level, and SiP solutions for smartphones, data centers, AI, and automotive markets. In 2025, Amkor generated $6,708 million in net sales,... Read more
Sell if holding. Multiple concerning factors at $42.21: Concentration risk — Product: Advanced Products (82.8%); V7 low-quality RISK_OFF penalty: -0.5 (Q=4.2). Chart setup: No clear chart pattern; technical signals are mixed. Score 5.6/10, moderate confidence.
Passes 7/8 gates (positive momentum, favorable risk/reward ratio, clean insider activity, no SEC red flags, earnings proximity 102d clear, semi cycle peak clear, materials cycle peak clear). Suitability: speculative.
About Amkor Technology, Inc.
About Amkor Technology, Inc.
Advanced Products represented 82.8% of Amkor Technology's $6,708 million in net sales in 2025, with advanced SiP modules contributing approximately $3,080 million of that total. The company operates as the largest U.S.-headquartered outsourced semiconductor assembly and test service provider, with manufacturing facilities across key Asian markets, a Vietnam facility that delivered packages beginning Q3 2024, and an Arizona facility that began construction in the second half of 2025.
Amkor earns revenue from turnkey semiconductor packaging and test services sold to integrated device manufacturers, fabless semiconductor companies, OEMs, and contract foundries. Revenue divides between Advanced Products—flip chip, memory, wafer-level packages, and SiP modules—and Mainstream Products (wirebond, leadframe, and power device packaging), with the Advanced Products share growing from 77.4% in 2023 to 82.8% in 2025. Gross margin depends heavily on capacity utilization because of the high fixed-cost base; the company does not operate with material backlog, and customers are not contractually required to provide binding purchase forecasts. Key commodity inputs—gold, silver, copper, leadframes, and laminate substrates—are sourced from a limited group of suppliers without long-term pricing agreements, leaving the company exposed if vendors raise prices or face disruptions. The automotive end market represents a significant portion of sales; that industry is cyclical and sensitive to general economic conditions, inflationary pressure, and end-market preference shifts. Amkor competes against Asia-based packaging peers and against foundries expanding into integrated packaging services.
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Amkor's critical materials—leadframes, laminate substrates, and gold wire—are sourced from a limited group of suppliers on a purchase order basis without long-term supply agreements. The 10-K discloses that fire, severe weather, earthquakes, flooding, and tsunamis have in the past disrupted specialty chemicals, substrates, silicon wafers, and other electronics-industry inputs. Equipment is likewise acquired without long-term vendor contracts, meaning supply constraints or price spikes in tight markets could delay capacity expansion and prevent the company from fulfilling customer orders—a risk amplified by the high fixed-cost structure that requires consistently high utilization to preserve gross margins.
See also: Technology · Semiconductor Equipment & Materials
From Amkor Technology, Inc.'s most recent 10-K filing, extracted June 9, 2026.
Recent developments
updated 2026-10-29Recent Developments — Amkor Technology, Inc.
Latest news
- NEWS Amkor Technology Inc (AMKR) Shares Fall 3.2% -- What GF Score of 80 Tells Investors - GuruFocus — GuruFocus negative
- NEWS Amkor Technology (NASDAQ:AMKR) Cut to "Hold" at Zacks Research - MarketBeat — MarketBeat negative
- NEWS Amkor Tech's Revenue Outlook Disappoints Investors, Stock Tanks - Sahm — Sahm negative
- NEWS Analysts Offer Insights on Technology Companies: Amkor (AMKR), Paycom (PAYC) and Agilysys (AGYS) - The Globe and Mail — The Globe and Mail neutral
- NEWS AMKR Stock: Why Amkor Tanked After Outstanding Earnings - CMC Markets — CMC Markets negative
Generated 2026-10-29T11:14:31Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHProductAdvanced Products83%10-K Item 1: 'Advanced Products| $| 5,556 | | | 82.8 | %'
- MEDIUMCustomerautomotive industry customers10-K Item 1A: 'A significant portion of our sales is to customers within the automotive industry'
- MEDIUMSupplierlimited group of suppliers for critical materials10-K Item 1A: 'We source most of our materials, including critical materials such as leadframes, laminate substrates and gold wire, from a limited group of suppliers'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
1 ceiling hit
Price Targets
Position Sizing
Analyst Consensus
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Multiple concerning factors at $42.21: Concentration risk — Product: Advanced Products (82.8%); V7 low-quality RISK_OFF penalty: -0.5 (Q=4.2). Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $39.26. Score 5.6/10, moderate confidence.
Analyst target: $57.42 (+36.0% upside). Prior stop was $39.26. Stop-loss: $39.26.
Concentration risk — Product: Advanced Products (82.8%); V7 low-quality RISK_OFF penalty: -0.5 (Q=4.2); Sector modifier (Technology): -0.8.
Amkor Technology, Inc. trades at a P/E of 17.0 (forward 15.2). TrendMatrix value score: 8.6/10. Verdict: Sell.
19 analysts cover AMKR with a consensus score of 3.7/5. Average price target: $66.
What does Amkor Technology, Inc. do?Amkor Technology is the largest U.S.-headquartered outsourced semiconductor assembly and test service provider,...
Amkor Technology is the largest U.S.-headquartered outsourced semiconductor assembly and test service provider, offering packaging, wafer-level, and SiP solutions for smartphones, data centers, AI, and automotive markets. In 2025, Amkor generated $6,708 million in net sales, with Advanced Products at 82.8% of revenue. Manufacturing spans Asia, Europe, and a new Arizona facility under construction since H2 2025.