moneyheap
AMKR · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Amkor Technology Inc (AMKR) stock moving?
Amkor's Q3 2026 results (SEC 8-K, Oct 26) showed strong profitability: net sales of $1.99B were flat year over year, but gross margin rose to 18.3% from 14.3%, and diluted EPS of $0.76 was up from $0.51. Q4 guidance calls for net sales of $1.9B to $2.0B and EPS of $0.65 to $0.75, with the EPS midpoint below Q3. Full-year 2026 capex was raised to about $2.5B, and the company ended Q3 with $2.4B of cash and short-term investments against $2.5B of debt. The stock rose from $36.81 (Oct 26) to a $42.21 close on Oct 28, then fell about 18% to $34.47 by Nov 10. The sharpest drop came on Nov 5, when it closed at $30.49 (-14.5%) on 7.0M shares, and none of the provided news explains it. It rebounded to $35.00 on Nov 9 and closed at $34.47 on Nov 10 on lighter volume (3.1M). The latest coverage is mixed: B. Riley kept a Neutral rating while cutting its target to $38, about 10% above the current price. An industry report cites a solid order backlog and AI capacity expansion, but gives no numbers. Overall, the margin recovery and AI demand support the stock, while flat revenue, lower Q4 guidance, higher capex and the unexplained selloff weigh on the near term.
News behind the analysis
- B. Riley Securities Maintains Neutral on Amkor Technology, Lowers Price Target to $38B. Riley kept its Neutral rating on Amkor and cut its price target to $38. The firm's target was previously $41.
- B. Riley Adjusts Amkor Technology Price Target to $38B. Riley lowered its Amkor price target from $41 to $38 while maintaining a Neutral rating.
- Amkor Technology Reports Strong Order Backlog and AI Capacity ExpansionIndustry reports say Amkor has a solid order backlog and is expanding capacity for AI data center equipment, including thermal compression bonders. The report gives no figures.
- Analyst Rating Updates for Amkor TechnologySeveral financial institutions updated their ratings and price targets for Amkor on October 28, 2026. The item does not list the individual changes.
About Amkor Technology Inc
Amkor Technology, based in Tempe, Arizona, is one of the world's largest outsourced semiconductor assembly and test (OSAT) companies. Chipmakers and chip designers hire it to package and test their chips. It stands out for its advanced packaging used in AI, high-performance computing, phone and automotive chips, for a large factory network across Asia, and for a new advanced packaging site it is building in Arizona with partners including TSMC and NVIDIA.
How it makes money
Amkor charges customers for packaging (enclosing and connecting chips) and testing them. Most of its revenue comes from advanced packaging, and a smaller share comes from mainstream packaging. Sales split across communications (largely smartphones, with Apple historically a major customer), computing (data center and PC), automotive and industrial, and consumer electronics. Revenue was about $6.7 billion in 2025 and has run near $1.9–2.0 billion a quarter in 2026.
What usually moves AMKR
- AI and data-center chip packaging demand
- Smartphone build cycles and big-customer orders
- Factory utilization and gross margins
- Heavy spending on capacity (about $2.5 billion in 2026) and the Arizona build-out
- Semiconductor industry cycles and trade/tariff policy