Company Performance - Amkor Technology (AMKR) closed at $21.48, reflecting a +2.33% increase from the previous day, outperforming the S&P 500's daily loss of 0.11% [1] - The stock has risen by 15.9% over the past month, surpassing the Computer and Technology sector's gain of 8.76% and the S&P 500's gain of 5.17% [1] Upcoming Earnings - The upcoming EPS for Amkor Technology is projected at $0.16, indicating a 40.74% decline compared to the same quarter last year [2] - The Zacks Consensus Estimate for revenue is $1.42 billion, down 2.51% from the previous year [2] Annual Forecast - For the entire year, the Zacks Consensus Estimates forecast earnings of $1.18 per share and revenue of $6.11 billion, reflecting changes of -17.48% and -3.24% respectively compared to the previous year [3] Analyst Estimates - Recent changes to analyst estimates for Amkor Technology are important as they indicate shifts in near-term business trends, with positive changes suggesting analyst optimism [3][4] Valuation Metrics - Amkor Technology is currently trading at a Forward P/E ratio of 17.82, which is a discount compared to its industry's Forward P/E of 27.71 [6] - The Electronics - Semiconductors industry, part of the Computer and Technology sector, has a Zacks Industry Rank of 90, placing it in the top 37% of over 250 industries [6]

Core Viewpoint - The demand for advanced packaging continues to grow, driven primarily by AI-related applications and high-performance computing [3][30]. Group 1: Advanced Packaging Demand - The advanced packaging market is expected to grow from $39 billion in 2023 to $80 billion by 2029, with a compound annual growth rate (CAGR) of 12.7% [12]. - The 2.5D/3D packaging segment is projected to grow at a remarkable rate of 20.9% over the next five years, becoming a key driver for overall market growth [12]. - Advanced packaging shipments are anticipated to rise from 70.9 billion units in 2023 to 97.6 billion units by 2029, with a CAGR of 5.5% [15]. Group 2: Technology and Equipment - Four main advanced packaging technologies—FC, WLP, 2.5D, and 3D—are facilitating the evolution of packaging technology [5][7]. - The global advanced packaging equipment market is projected to reach $3.1 billion in 2024, marking a historical high [5]. - The demand for etching, thin film deposition, and plating equipment is expected to increase rapidly due to advancements in packaging technology [5]. Group 3: Market Dynamics - The semiconductor industry is experiencing a downturn in 2023, impacting the advanced packaging market, which saw a year-on-year decline of 3.5% [12]. - The recovery in specific end markets, along with the continuous application of advanced packaging technology, is expected to sustain healthy growth in the coming years [15]. - The integration of AI applications in various sectors, including automotive and consumer electronics, is driving the demand for advanced packaging solutions [30]. Group 4: Investment Opportunities - Companies such as ASMPT, North Huachuang, and Zhongwei are highlighted as key players benefiting from the local supply chain advantages in the advanced packaging sector [5]. - Significant investments in packaging projects are underway, with total planned investments amounting to approximately $100 billion [29]. - The ongoing demand for advanced packaging solutions is expected to lead to sustained revenue growth for companies involved in this sector [30].

Company Overview - Amkor Technology is the largest OSAT (Outsourced Semiconductor Assembly and Test) company headquartered in the U S, with over 55 years of experience [5] - The company plans to break ground on a U S facility in 2025 [5] - Amkor's advanced packaging revenue CAGR (2019-2024) is 16% [5] - In 2024, advanced packaging accounted for 82% of Amkor's revenue [5] - Amkor's 2024 revenue was $6 3 billion, with capital expenditures of $744 million [5] Market and Strategy - The semiconductor market is projected to reach $1 trillion by 2030 [8] - Amkor focuses on industry megatrends such as 5G communications, HPC (High Performance Computing) and AI, automotive electronics, and IoT devices [18] - The company leverages advanced packaging leadership to optimize power, performance, and area [19] - Amkor has a broad geographic footprint with 13 million square feet (1 2M sqm) of manufacturing space [21] Financial Performance - Amkor expects 2025 capital expenditures to be around $850 million [42] - In 2024, Amkor's revenue was $6 318 billion, gross profit was $933 million, and operating income was $438 million [44, 45, 46] - The company's EPS (Earnings Per Share) in 2024 was $1 43 [47] - Amkor's free cash flow in 2024 was $359 million [51]

Group 1 - Amkor Technology (AMKR) closed at $20.45, with a +2.82% increase from the previous day, outperforming the S&P 500 which gained 0.94% [1] - Over the past month, Amkor's shares have increased by 0.81%, while the Computer and Technology sector rose by 3.9% and the S&P 500 by 1.67% [1] Group 2 - Amkor Technology is expected to report an EPS of $0.16, indicating a 40.74% decrease from the same quarter last year, with projected revenue of $1.42 billion, down 2.51% year-over-year [2] - For the annual period, earnings are anticipated to be $1.18 per share and revenue at $6.11 billion, reflecting declines of -17.48% and -3.24% respectively from the previous year [3] Group 3 - Recent analyst estimate revisions for Amkor Technology suggest a positive outlook, as these changes are often indicative of near-term business trends [3] - The Zacks Rank system, which evaluates estimate changes, currently rates Amkor Technology as 5 (Strong Sell), with a stagnant consensus EPS projection over the past 30 days [5] Group 4 - Amkor Technology has a Forward P/E ratio of 16.89, which is lower than the industry average Forward P/E of 24.1, indicating a valuation discount [6] - The Electronics - Semiconductors industry, part of the Computer and Technology sector, holds a Zacks Industry Rank of 84, placing it in the top 35% of over 250 industries [6]

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Core Viewpoint - The article discusses the challenges faced by semiconductor companies in the U.S. due to local opposition and regulatory delays, impacting the construction and operation of new facilities funded by the CHIPS Act. Group 1: Company-Specific Challenges - Amkor's $2 billion chip packaging plant in Peoria, Arizona, faces local resistance due to concerns over water resources and traffic congestion, with residents threatening legal action [2] - Micron's $100 billion DRAM production facility in Clay, New York, has encountered delays in environmental assessments, pushing back the construction timeline originally set for 2024 [3][4] - Micron's facility is expected to be the largest semiconductor plant in the U.S., with a total cleanroom area of 600,000 square feet, but delays could result in significant financial losses of $5 million per day [3] Group 2: Industry Context and Geopolitical Factors - The semiconductor trade, valued at $600 billion, has become a focal point in global discussions on security and economic dominance, with the supply chain being particularly vulnerable due to geopolitical tensions [5] - The U.S. semiconductor strategy has shifted under different administrations, with Biden focusing on investment-driven policies and Trump emphasizing tariffs, leading to contrasting impacts on the industry [7][8] - Chris Miller, a historian and expert on semiconductor trade, highlights the importance of the CHIPS Act in mitigating risks associated with reliance on Taiwanese chip manufacturing, while noting that China's advancements in manufacturing pose ongoing challenges [6][7] Group 3: Future Outlook - The success of Micron's plans to produce 40% of DRAM in the U.S. by the mid-2030s is uncertain due to current project delays [4] - The article emphasizes the need for careful consideration of export controls on advanced semiconductors, as these are critical to maintaining U.S. technological leadership [10]

Core Viewpoint - The article discusses the delays and challenges faced by semiconductor manufacturing projects in the U.S. due to local opposition and regulatory hurdles, particularly highlighting the impact of the CHIPS Act and geopolitical tensions in the semiconductor industry [1][5][6]. Group 1: Project Delays and Local Opposition - Amkor's $2 billion advanced packaging plant in Peoria, Arizona, faces local resistance due to concerns over water resources and traffic congestion, with residents threatening legal action [2]. - Micron's $100 billion DRAM production facility in Clay, New York, has encountered delays in environmental assessments and public feedback, pushing back the construction timeline originally set for 2024 [3][4]. - The delays in Micron's project could result in a loss of $5 million per day, affecting its ability to meet production goals for DRAM in the late 2020s [3]. Group 2: Importance of Semiconductor Manufacturing - The advanced packaging plant by Amkor is crucial for the local semiconductor supply chain, which includes TSMC's Fab 21 and multiple suppliers, and is expected to be one of the largest in the world [2]. - Micron's facility is intended to be its largest manufacturing base and a key part of its strategy to increase U.S. production of DRAM, aiming for 40% of its output to be produced domestically by the mid-2030s [4]. Group 3: Geopolitical Context and Industry Dynamics - The semiconductor trade, valued at $600 billion, has become a focal point in discussions about global security and economic dominance, particularly between the U.S. and China [5]. - The CHIPS Act aims to bolster U.S. semiconductor manufacturing and reduce reliance on Taiwan, which currently produces about 90% of the world's advanced semiconductors [6][7]. - The article highlights the contrasting strategies of the Biden and Trump administrations regarding semiconductor policy, with Biden focusing on investment incentives and Trump emphasizing tariffs [7][8].

Summary of Amkor Technology (AMKR) FY Conference Call - May 13, 2025 Company Overview - Amkor Technology is an OSAT (Outsourced Semiconductor Assembly and Test) company providing services to semiconductor firms across automotive, communications, computing, and consumer markets [2][4] Key Strategic Pillars - **Advanced Packaging Technologies**: Focus on next-generation packaging solutions [3] - **Geographical Diversity**: Manufacturing footprint across eight countries, with plans to expand to nine [4] - **Customer Partnerships**: Close collaboration with leading market customers to support product adoption [3] Financial Performance - Q1 revenue was $1.32 billion, with Q2 projected at $1.425 billion [5] - The company is cautious about confirming second-half guidance due to trade and tariff uncertainties [10] Market Dynamics - **Communications Segment**: Positive momentum with socket regain expected, contributing to revenue recovery [10][15] - **Computing Segment**: Anticipated growth driven by AI applications and advanced packaging technologies [20][34] - **Automotive and Industrial**: Growth expected in advanced automotive segments like ADAS and infotainment, though legacy devices face inventory challenges [12][39] Pricing Environment - Competitive pricing in mainstream products due to high OSAT provider presence, while advanced packaging pricing remains stable [13][14] Customer Relationships - Significant revenue exposure to a major customer, with a focus on maintaining and expanding market share [17][18] - Long-term partnership opportunities with customers transitioning to new architectures [27][28] Growth Drivers - **AI and Data Center Applications**: Growth in 2.5D and RDL technologies, with a strong pipeline for future products [20][26] - **ARM-based CPUs**: Increasing adoption in data centers and PCs, driven by power efficiency [34][36] Testing Business Expansion - Plans to expand testing capabilities in Korea, focusing on turnkey solutions [46][49] Gross Margin and Utilization - Current gross margin impacted by ramping up the Vietnam facility, with expectations to return to 20% as utilization improves [50][52] Future Facilities and Investments - Groundbreaking for a new U.S. facility planned for the second half of 2025, with operations expected to start in 2027 [56][57] - $400 million grant from the government under the CHIPS Act to support the Arizona fab project [57][58] Conclusion - Amkor Technology emphasizes its strategic pillars of technology, geographical diversity, and customer collaboration as key differentiators in the semiconductor industry [69]

以下文章来源于TrendForce集邦 ，作者TrendForce TrendForce集邦 . TrendForce集邦咨询是一家全球高科技产业研究机构，研究领域横跨存储器、AI服务器、集成电路与半 导体、晶圆代工、显示面板、LED、AR/VR、新能源（含太阳能光伏、储能和电池）、AI机器人及汽 车科技等，提供前瞻性行业研究报告、产业分析 如果您希望可以时常见面，欢迎标星收藏哦~ 来源：内容来自 TrendForce集邦，谢谢。 根据TrendForce集邦咨询最新半导体封测研究报告，2024年全球封测(OSAT)市场面临技术升级 和产业重组的双重挑战。从营收分析，日月光控股、Amkor（安靠）维持领先地位，值得关注的 是，得益于政策支持和本地需求带动，长电科技和天水华天等封测厂营收皆呈双位数成长，对既 有市场格局构成了强大的挑战。 TrendForce集邦咨询表示，2024年全球前十大封测厂合计营收为415.6亿美元，年增3%。 | 排名 | 公司 | | 营收(USD Billion) | | Top10营收占比 | | | --- | --- | --- | --- | --- | --- | --- ...

Industry Insights - The global OSAT market is facing dual challenges of technological upgrades and industry restructuring in 2024 [1] - The top ten OSAT companies are projected to generate a combined revenue of $41.56 billion in 2024, reflecting a year-on-year growth of 3% [2][3] Company Performance - ASE Holdings (日月光控股) remains the leader with a revenue of $18.54 billion in 2024, a slight decrease of 0.7% from 2023, holding a market share of 44.6% [3][5] - Amkor (安靠) ranks second with a revenue of $6.32 billion, down 2.8% year-on-year, primarily due to weak demand in automotive electronics [3][6] - JCET (长电科技) is third with a revenue of $5 billion, showing a significant growth of 19.3%, driven by improving demand in consumer electronics and AI PC markets [3][7] - TFME (通富微电) ranks fourth with a revenue of $3.32 billion, up 5.6%, benefiting from recovering demand in communications and consumer electronics [3][8] - PTI (力成科技) is fifth with a revenue of $2.28 billion, reflecting a modest growth of 1% due to transitional challenges in advanced packaging [3][9] - TSHT (天水华天) ranks sixth with a revenue of $2.01 billion, achieving the highest growth rate of 26% among the top ten OSAT companies, supported by advancements in packaging technology [3][10] - WiseRoad (智路封测) is seventh with a revenue of $1.56 billion, up 5%, driven by semiconductor demand recovery [3][11] - Hana Micron (韩亚微) ranks eighth with a revenue of $0.92 billion, growing 23.7% due to strong performance from memory clients [3][12] - KYEC (京元电子) is ninth with a revenue of $0.91 billion, down 14.5%, impacted by the sale of a subsidiary but benefiting from growth in AI server and HPC chip markets [3][13] - ChipMOS (南茂科技) rounds out the top ten with a revenue of $0.71 billion, up 3.1%, driven by stable demand in automotive and OLED sectors [3][14] Market Trends - The 2024 OSAT market indicates a restructuring of the value chain, with increasing demands for advanced packaging technologies driven by AI and edge computing [14] - The market is characterized by a dual-axis trend of "mature leaders' stability and the rise of regional new forces," setting the stage for future competition in advanced packaging and heterogeneous integration technologies [14]