Amkor Technology (NASDAQ:AMKR – Get Rating) updated its third quarter 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.82-$1.02 for the period, compared to the consensus earnings per share estimate of $0.80. The company issued revenue guidance of $1.88 billion-$1.98 billion, compared to the consensus revenue estimate of $1.79 billion.
Wall Street Analyst Weigh In
Separately, DA Davidson assumed coverage on Amkor Technology in a research report on Wednesday, June 29th. They issued a buy rating and a $30.00 target price on the stock.
Amkor Technology Trading Down 1.7 %
Shares of AMKR stock traded down $0.38 during mid-day trading on Friday, reaching $22.65. 754,647 shares of the stock traded hands, compared to its average volume of 955,773. The stock’s fifty day simple moving average is $18.41 and its two-hundred day simple moving average is $20.09. Amkor Technology has a 1-year low of $14.89 and a 1-year high of $29.50. The company has a market cap of $5.54 billion, a price-to-earnings ratio of 8.03 and a beta of 1.55. The company has a quick ratio of 1.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.30.
Amkor Technology Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 27th. Stockholders of record on Tuesday, June 7th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, June 6th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.88%. Amkor Technology’s dividend payout ratio is presently 7.09%.
Insider Buying and Selling
In related news, CFO Megan Faust sold 6,000 shares of the stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $19.90, for a total transaction of $119,400.00. Following the sale, the chief financial officer now owns 8,512 shares of the company’s stock, valued at approximately $169,388.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Megan Faust sold 6,000 shares of the stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $19.90, for a total transaction of $119,400.00. Following the transaction, the chief financial officer now directly owns 8,512 shares in the company, valued at approximately $169,388.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $22.01, for a total value of $1,320,600.00. Following the transaction, the chief executive officer now owns 245,000 shares in the company, valued at $5,392,450. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,000 shares of company stock valued at $1,668,840. Corporate insiders own 56.50% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in shares of Amkor Technology in the 1st quarter worth $38,000. Advisors Asset Management Inc. grew its holdings in shares of Amkor Technology by 57.3% in the first quarter. Advisors Asset Management Inc. now owns 2,936 shares of the semiconductor company’s stock worth $64,000 after acquiring an additional 1,069 shares during the period. Covestor Ltd grew its holdings in shares of Amkor Technology by 169.2% in the first quarter. Covestor Ltd now owns 5,133 shares of the semiconductor company’s stock worth $112,000 after acquiring an additional 3,226 shares during the period. Captrust Financial Advisors lifted its position in Amkor Technology by 23.2% during the first quarter. Captrust Financial Advisors now owns 6,162 shares of the semiconductor company’s stock valued at $134,000 after purchasing an additional 1,161 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Amkor Technology during the first quarter valued at $230,000. Hedge funds and other institutional investors own 59.68% of the company’s stock.
About Amkor Technology
Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and the rest of the Asia Pacific. It offers turnkey packaging and test services, including semiconductor wafer bump, wafer probe, wafer back-grind, package design, packaging, and test and drop shipment services.
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