Goldman Sachs Initiates Amkor Technology with Neutral Rating and $20 Price Target

Goldman Sachs has initiated coverage of Amkor Technology (AMKR) with a Neutral rating and a $20 price target, citing a stable semiconductor cycle and China tailwinds. The analyst sees limited upside catalysts in the near term but does not foresee major downside risks, suggesting a "wait and watch" approach is warranted. China is seen as an opportunity rather than a threat for companies in the semiconductor supply chain, including outsourced assembly and test providers like Amkor.

Goldman Sachs has recently initiated coverage on Amkor Technology (AMKR) with a Neutral rating and a $20 price target. The analyst firm cited a stable semiconductor cycle and favorable conditions in China as key factors in their assessment. According to Goldman Sachs, the semiconductor industry is currently experiencing a stable cycle, which is beneficial for companies like Amkor Technology, which specializes in outsourced semiconductor packaging and test services.

The analyst also noted that China presents an opportunity rather than a threat for companies in the semiconductor supply chain. China's growing demand for electronic devices and the government's push for technological self-sufficiency are seen as positive factors for companies like Amkor. However, Goldman Sachs expects limited upside catalysts in the near term and does not foresee major downside risks. As a result, the firm suggests a "wait and watch" approach for investors.

The analyst's report also highlighted the company's recent financial performance. Amkor Technology reported $0.09 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates. The company's revenue for the quarter was $1.32 billion, which was slightly above analysts' expectations of $1.28 billion. Despite these positive results, Goldman Sachs remains cautious about the stock's potential upside, citing the lack of major catalysts in the near term.

Goldman Sachs' Neutral rating and $20 price target reflect their cautious approach to the stock. The firm believes that the stable semiconductor cycle and China tailwinds are positive factors for Amkor Technology, but they do not see enough upside catalysts to warrant a more optimistic rating. As a result, investors are advised to monitor the company's performance and market conditions before making any investment decisions.

References:
[1] https://www.marketbeat.com/instant-alerts/filing-1492-capital-management-llc-reduces-holdings-in-amkor-technology-inc-nasdaqamkr-2025-07-24/
[2] https://ca.investing.com/news/company-news/goldman-sachs-stock-hits-alltime-high-at-72631-usd-93CH-4119753