Amkor Technology (NASDAQ:AMKR) Posts Earnings Results, Beats Expectations By $0.13 EPS

Amkor Technology (NASDAQ:AMKR) posted its quarterly earnings data on Monday. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the firm posted $0.18 EPS. The firm’s revenue was down 7.2% compared to the same quarter last year. 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 Price Performance

AMKR stock opened at $31.47 on Tuesday. The firm’s 50-day moving average price is $31.60 and its two-hundred day moving average price is $29.73. Amkor Technology has a 12-month low of $17.58 and a 12-month high of $37.00. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of 21.55 and a beta of 1.96. The company has a current ratio of 2.31, a quick ratio of 2.02 and a debt-to-equity ratio of 0.27.

Amkor Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were given a $0.079 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Monday, March 11th. Amkor Technology’s payout ratio is 21.23%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Amkor Technology

In related news, CFO Megan Faust sold 2,700 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $30.34, for a total transaction of $81,918.00. Following the transaction, the chief financial officer now owns 38,811 shares in the company, valued at $1,177,525.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Megan Faust sold 2,700 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $30.34, for a total transaction of $81,918.00. Following the transaction, the chief financial officer now owns 38,811 shares in the company, valued at $1,177,525.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $3,887,385.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,500 shares of company stock worth $2,494,720. 31.40% of the stock is currently owned by company 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.