Semiconductor co Amkor Technology falls on planned $1 bln convertible offering

Amkor Technology

30/04/2026 12:50

** Amkor Technology's AMKR.O shares down 4% in premarket trading to $67.75 as it seeks capital raise

** Semiconductor packaging and test services provider announces private offering of $1 bln convertible bonds due 2031

** It intends to use net offering proceeds for general corporate purposes, including capex

** Co also plans to use some proceeds to fund capped calls, derivative transactions employed to offset potential dilution

** Tempe, Arizona-based AMKR has $17.5 bln market cap, based on about 247.9 mln shares outstanding

** Through Weds close, AMKR's stock up 79% YTD including 57% surge in Apr. Stock hit record intraday high of $79.23 on Mon

** Late Mon, co reported Q1 rev of $1.69 bln, up 27% y/y, and adj EPS of 33 cents, topping analysts' estimates, and Q2 guidance also exceeded Wall Street's expectations, per LSEG data

** 5 of 12 analysts rate the stock "buy", 6 "hold" and 1 "strong sell"; median PT of $69 up from $55 a month ago

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))