FY2024 EPS Estimates for Amkor Technology, Inc. Lifted by Analyst (NASDAQ:AMKR)

Amkor Technology, Inc. (NASDAQ:AMKR) – Analysts at DA Davidson upped their FY2024 earnings per share estimates for Amkor Technology in a report released on Tuesday, April 30th. DA Davidson analyst T. Diffely now expects that the semiconductor company will earn $1.65 per share for the year, up from their prior forecast of $1.45. DA Davidson has a “Buy” rating and a $40.00 price target on the stock. The consensus estimate for Amkor Technology’s current full-year earnings is $1.63 per share.

A number of other analysts also recently weighed in on AMKR. B. Riley reiterated a “buy” rating and set a $45.00 price target (up from $43.00) on shares of Amkor Technology in a report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of Amkor Technology in a report on Tuesday. Morgan Stanley increased their price target on Amkor Technology from $32.00 to $34.00 and gave the stock an “equal weight” rating in a report on Tuesday. Fox Advisors initiated coverage on Amkor Technology in a report on Thursday, March 14th. They set an “equal weight” rating for the company. Finally, The Goldman Sachs Group increased their price objective on shares of Amkor Technology from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.67.

Amkor Technology Stock Performance

Shares of Amkor Technology stock opened at $30.33 on Thursday. The company has a current ratio of 2.34, a quick ratio of 2.02 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $31.65 and a two-hundred day moving average price of $29.80. Amkor Technology has a 1-year low of $17.58 and a 1-year high of $37.00. The company has a market cap of $7.46 billion, a P/E ratio of 19.95 and a beta of 1.94.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.13. Amkor Technology had a return on equity of 9.53% and a net margin of 5.84%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the business posted $0.18 earnings per share. Amkor Technology’s quarterly revenue was down 7.2% on a year-over-year basis.

Hedge Funds Weigh In On Amkor Technology

Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Amkor Technology by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,860,585 shares of the semiconductor company’s stock worth $494,421,000 after purchasing an additional 244,026 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Amkor Technology by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 14,756,992 shares of the semiconductor company’s stock worth $490,965,000 after purchasing an additional 959,838 shares during the last quarter. SW Investment Management LLC increased its stake in shares of Amkor Technology by 9.3% during the 3rd quarter. SW Investment Management LLC now owns 2,350,000 shares of the semiconductor company’s stock worth $53,110,000 after purchasing an additional 200,000 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Amkor Technology by 39.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,939,583 shares of the semiconductor company’s stock worth $43,835,000 after purchasing an additional 547,604 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Amkor Technology by 8.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,852,309 shares of the semiconductor company’s stock worth $61,626,000 after purchasing an additional 141,725 shares during the last quarter. Institutional investors own 42.76% of the company’s stock.

Insider Activity at Amkor Technology

In related news, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $30.34, for a total value of $81,918.00. Following the transaction, the chief financial officer now owns 38,811 shares of the company’s stock, valued at approximately $1,177,525.74. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Amkor Technology 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 transaction, the chief executive officer now owns 124,476 shares of the company’s stock, valued at approximately $3,887,385.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 38,811 shares in the company, valued at approximately $1,177,525.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,500 shares of company stock valued at $2,494,720. 31.40% of the stock is owned by corporate insiders.

Amkor Technology Dividend Announcement

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

Amkor Technology Company Profile

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.