Q2 2024 EPS Estimates for Amkor Technology, Inc. Increased by Analyst (NASDAQ:AMKR)

Amkor Technology, Inc. (NASDAQ:AMKR) – Equities researchers at B. Riley increased their Q2 2024 earnings per share (EPS) estimates for shares of Amkor Technology in a note issued to investors on Monday, April 29th. B. Riley analyst C. Ellis now anticipates that the semiconductor company will earn $0.22 per share for the quarter, up from their previous estimate of $0.09. B. Riley currently has a “Buy” rating and a $45.00 target price on the stock. The consensus estimate for Amkor Technology’s current full-year earnings is $1.63 per share. B. Riley also issued estimates for Amkor Technology’s Q3 2025 earnings at $0.97 EPS and FY2025 earnings at $2.56 EPS.

Other research analysts have also issued reports about the company. Morgan Stanley increased their price objective on Amkor Technology from $32.00 to $34.00 and gave the company an “equal weight” rating in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $40.00 target price on shares of Amkor Technology in a report on Tuesday. The Goldman Sachs Group boosted 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. DA Davidson raised 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. Finally, Fox Advisors assumed coverage on shares of Amkor Technology in a report on Thursday, March 14th. They issued an “equal weight” rating for the company. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.67.

Amkor Technology Stock Down 6.2 %

NASDAQ AMKR opened at $30.33 on Thursday. The firm has a market cap of $7.46 billion, a PE ratio of 19.95 and a beta of 1.94. Amkor Technology has a one year low of $17.58 and a one year high of $37.00. The stock’s 50 day simple moving average is $31.65 and its 200 day simple moving average is $29.80. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.34 and a quick ratio of 2.02.

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

Institutional Trading of Amkor Technology

A number of large investors have recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC lifted its stake in Amkor Technology by 1.4% in the fourth quarter. SummerHaven Investment Management LLC now owns 24,548 shares of the semiconductor company’s stock valued at $817,000 after acquiring an additional 327 shares during the last quarter. Retirement Systems of Alabama lifted its stake in Amkor Technology by 0.3% in the first quarter. Retirement Systems of Alabama now owns 129,621 shares of the semiconductor company’s stock valued at $4,179,000 after acquiring an additional 344 shares during the last quarter. Fifth Third Bancorp lifted its stake in Amkor Technology by 65.8% in the fourth quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 347 shares during the last quarter. Arizona State Retirement System lifted its stake in Amkor Technology by 1.4% in the third quarter. Arizona State Retirement System now owns 31,473 shares of the semiconductor company’s stock valued at $711,000 after acquiring an additional 428 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in Amkor Technology by 3.5% in the fourth quarter. Assetmark Inc. now owns 12,874 shares of the semiconductor company’s stock valued at $428,000 after acquiring an additional 438 shares during the last quarter. Institutional investors and hedge funds own 42.76% of the company’s stock.

Insider Transactions at Amkor Technology

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

Amkor Technology Announces Dividend

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

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.