Electronics manufacturer Amkor Technology Inc (AMKR) released its fourth-quarter report for 2020. Stronger demand for smartphone and car electronics are driving Amkor’s quarterly sales.
Amkor’s net sales for the quarter ended December 31, 2020, grew 16.3% on a year-over-year basis to $1.37 billion. Net income was $0.52 million, or $127 million, and gross margin was 20.3%. A full decade after the company’s founding, sales more than doubled to exceed money 5 billion (up 24.6%), and profit came to $338 million or $1.4 per share. For the sixth consecutive year, free cash flow has doubled to $221 million.
During the company’s development period, it built technology for the production of high-density chips. The system makes it possible to drive compact electronic modules, antennas for 5G, optical sensors, and other components where low energy consumption and compactness are essential.
Demand for semiconductor testing components, tools, and services reached record highs, helping Amkor Technology Inc (AMKR) exceed its expectations last year. The key growth area at Amkor is electronic equipment for cars and smartphones. In the coming quarters, we can expect continued demand from these segments. As a result of the higher orders, Amkor was able to increase margins last year significantly. Furthermore, the company got a chance to cut costs as well. Together, this led to record profits.
Taking a look at AMKR’s past performance, we will examine different moving trends. In the past week, Amkor Technology Inc had gained 16.26%, and it had gained 16.26% in the past month. The stock of this company gained 52.54% during the previous quarter. Over the past six months, the stock is up 50.88%, with a total gain of 67.79% for the year. On a year-to-date basis, this stock’s performance is now positive at 28.51%.