Amkor Technology (NASDAQ:AMKR) Announces Earnings Results

Amkor Technology (NASDAQ:AMKR) announced its earnings results on Monday. The semiconductor company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.02), FiscalAI reports. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Amkor Technology had a net margin of 7.45% and a return on equity of 12.27%.

Amkor Technology Price Performance

AMKR stock traded down $2.49 on Monday, hitting $36.81. 19,709,744 shares of the company’s stock traded hands, compared to its average volume of 4,838,604. The stock has a market cap of $9.15 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 0.48 and a beta of 2.21. Amkor Technology has a 1-year low of $29.50 and a 1-year high of $96.68. The company has a current ratio of 2.17, a quick ratio of 1.91 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average of $49.29 and a 200-day moving average of $61.79.

Amkor Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Wednesday, September 2nd were paid a dividend of $0.0835 per share. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a $0.33 annualized dividend and a yield of 0.9%. Amkor Technology’s dividend payout ratio is currently 14.80%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMKR. Weiss Ratings upgraded Amkor Technology from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Amkor Technology in a research note on Tuesday, July 28th. UBS Group upgraded Amkor Technology from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $90.00 in a research note on Friday, July 24th. B. Riley Financial decreased their target price on Amkor Technology from $65.00 to $46.00 and set a “neutral” rating for the company in a research note on Tuesday, October 20th. Finally, Morgan Stanley upped their price target on shares of Amkor Technology from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.22.

Insider Transactions at Amkor Technology

In other Amkor Technology news, CFO Megan Faust sold 1,000 shares of Amkor Technology stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $46.92, for a total value of $46,920.00. Following the transaction, the chief financial officer owned 133,105 shares in the company, valued at approximately $6,245,286.60. The trade was a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas Alexander sold 5,000 shares of the company’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $55.00, for a total value of $275,000.00. Following the completion of the transaction, the director directly owned 29,109 shares in the company, valued at $1,600,995. This represents a 14.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 46,221 shares of company stock valued at $2,538,507 in the last 90 days. 26.40% of the stock is owned by corporate insiders.

Amkor Technology Company Profile

Amkor Technology, Inc is a provider of outsourced semiconductor packaging and test services. The company helps semiconductor manufacturers and electronics companies assemble, package and test integrated circuits before they are incorporated into finished electronic products.

Amkor’s services include wafer bumping, wafer-level packaging, flip-chip packaging, system-in-package solutions, fan-out packaging, leadframe and laminate-based packaging, and semiconductor testing. Its products and services support applications including mobile and consumer electronics, communications, automotive, computing, industrial equipment, and memory devices.

Founded in 1968, Amkor has grown into a global semiconductor supply-chain partner with manufacturing and testing operations across regions including Asia, Europe and the United States.