Amkor Technology (NASDAQ:AMKR) Issues Quarterly Earnings Results

Amkor Technology (NASDAQ:AMKR) announced its quarterly earnings data on Monday. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.13, Briefing.com reports. Amkor Technology had a net margin of 5.53% and a return on equity of 9.37%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the firm posted $0.18 EPS. The company’s revenue was down 7.2% on a year-over-year basis. Amkor Technology updated its Q2 guidance to $0.14-0.30 EPS and its Q2 2024 guidance to 0.140-0.300 EPS.

Amkor Technology Trading Up 9.9 %

Shares of Amkor Technology stock opened at $34.58 on Tuesday. The stock has a 50 day moving average of $31.60 and a 200 day moving average of $29.73. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.02 and a current ratio of 2.31. Amkor Technology has a fifty-two week low of $17.58 and a fifty-two week high of $37.00. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 21.55 and a beta of 1.96.

Amkor Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were issued a $0.079 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.32 annualized dividend and a yield of 0.91%. Amkor Technology’s payout ratio is 21.23%.

Insider Activity at Amkor Technology

In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $31.23, for a total transaction of $780,750.00. Following the sale, the chief executive officer now owns 124,476 shares in the company, valued at $3,887,385.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $31.23, for a total transaction of $780,750.00. Following the completion of the sale, the chief executive officer now directly owns 124,476 shares in the company, valued at approximately $3,887,385.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $30.34, for a total transaction of $81,918.00. Following the sale, the chief financial officer now directly owns 38,811 shares in the company, valued at $1,177,525.74. The disclosure for this sale can be found here. Insiders have sold 80,500 shares of company stock valued at $2,494,720 over the last quarter. 31.40% of the stock is owned by insiders.

Analysts Set New Price Targets

AMKR has been the topic of a number of research analyst reports. B. Riley restated a “buy” rating and issued a $45.00 target price (up from $43.00) on shares of Amkor Technology in a research note on Tuesday. The Goldman Sachs Group started coverage on shares of Amkor Technology in a research note on Thursday, February 29th. They set a “neutral” rating and a $32.00 price objective on the stock. Fox Advisors began coverage on Amkor Technology in a research note on Thursday, March 14th. They set an “equal weight” rating for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $40.00 price objective on shares of Amkor Technology in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Amkor Technology presently has an average rating of “Moderate Buy” and an average price target of $35.17.

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 Asia Pacific. It offers turnkey packaging and test services, including semiconductor wafer bump, wafer probe, wafer back-grind, package design, packaging, system-level and final test, and drop shipment services; flip chip scale package products for smartphones, tablets, and other mobile consumer electronic devices; flip chip stacked chip scale packages that are used to stack memory digital baseband, and as applications processors in mobile devices; flip-chip ball grid array packages for various networking, storage, computing, automotive, and consumer applications; and memory products for system memory or platform data storage.