Amkor Technology (NASDAQ:AMKR) Updates Q2 2024 Earnings Guidance

Amkor Technology (NASDAQ:AMKR) updated its second quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 0.140-0.300 for the period, compared to the consensus estimate of 0.160. The company issued revenue guidance of $1.4 billion-$1.5 billion, compared to the consensus revenue estimate of $1.4 billion. Amkor Technology also updated its Q2 guidance to $0.14-0.30 EPS.

Wall Street Analyst Weigh In

AMKR has been the topic of several recent analyst reports. The Goldman Sachs Group upped their price target on shares of Amkor Technology from $32.00 to $36.00 and gave the company a neutral rating in a report on Wednesday. Morgan Stanley upped their target price on shares of Amkor Technology from $32.00 to $34.00 and gave the company an equal weight rating in a research note on Tuesday. Needham & Company LLC reiterated a buy rating and issued a $40.00 price target on shares of Amkor Technology in a research note on Tuesday. Fox Advisors started coverage on Amkor Technology in a research note on Thursday, March 14th. They set an equal weight rating on the stock. Finally, DA Davidson boosted their price target on Amkor Technology from $35.00 to $40.00 and gave the company a buy rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $37.67.

Amkor Technology Stock Performance

AMKR opened at $30.33 on Thursday. Amkor Technology has a twelve month low of $17.58 and a twelve month high of $37.00. The company has a current ratio of 2.31, a quick ratio of 2.02 and a debt-to-equity ratio of 0.27. The stock has a market cap of $7.46 billion, a PE ratio of 19.95 and a beta of 1.96. The business’s 50 day moving average is $31.65 and its 200-day moving average is $29.80.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.13. Amkor Technology had a return on equity of 9.63% and a net margin of 5.84%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the company posted $0.18 EPS. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. On average, analysts predict that Amkor Technology will post 1.63 earnings per share for the current year.

Amkor Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were issued a dividend of $0.079 per share. The ex-dividend date was Monday, March 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.04%. Amkor Technology’s dividend payout ratio is currently 20.39%.

Insider Activity at Amkor Technology

In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $30.63, for a total value of $765,750.00. Following the completion of the sale, the chief executive officer now owns 123,728 shares of the company’s stock, valued at $3,789,788.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction on Friday, February 16th. The stock was sold at an average price of $30.34, for a total transaction of $81,918.00. Following the completion of the sale, the chief financial officer now owns 38,811 shares of the company’s stock, valued at $1,177,525.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $30.63, for a total value of $765,750.00. Following the completion of the transaction, the chief executive officer now directly owns 123,728 shares in the company, valued at $3,789,788.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,500 shares of company stock worth $2,494,720. 31.40% of the stock is owned by corporate insiders.

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.