Amkor Technology (NASDAQ:AMKR) Announces Quarterly Earnings Results

Amkor Technology (NASDAQ:AMKR) announced its quarterly earnings results on Monday. The semiconductor company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.13, Briefing.com reports. Amkor Technology had a return on equity of 9.63% and a net margin of 5.84%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the firm earned $0.18 EPS. The business’s quarterly 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 Down 6.4 %

Shares of AMKR stock traded down $2.06 on Wednesday, hitting $30.29. 383,787 shares of the company’s stock traded hands, compared to its average volume of 941,250. The company’s fifty day simple moving average is $31.65 and its 200 day simple moving average is $29.80. Amkor Technology has a one year low of $17.58 and a one year high of $37.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.02 and a current ratio of 2.31. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 19.93 and a beta of 1.96.

Amkor Technology Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently commented on AMKR. The Goldman Sachs Group initiated coverage on Amkor Technology in a research report on Thursday, February 29th. They set a “neutral” rating and a $32.00 price objective for the company. Fox Advisors started coverage on Amkor Technology in a research report on Thursday, March 14th. They issued an “equal weight” rating on the stock. B. Riley reissued a “buy” rating and set a $45.00 target price (up from $43.00) on shares of Amkor Technology in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of Amkor Technology in a research note on Tuesday. Finally, DA Davidson lifted their target price on shares of Amkor Technology from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday. Three equities 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Insider Transactions at Amkor Technology

In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $31.17, for a total value of $779,250.00. Following the completion of the sale, the chief executive officer now directly owns 114,476 shares in the company, valued at $3,568,216.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $31.17, for a total transaction of $779,250.00. Following the transaction, the chief executive officer now owns 114,476 shares in the company, valued at $3,568,216.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Megan Faust sold 2,700 shares of the company’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 completion of the sale, the chief financial officer now directly owns 38,811 shares of the company’s stock, valued at $1,177,525.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,500 shares of company stock valued at $2,494,720. Company insiders own 31.40% 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 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.