Amkor Technology (NASDAQ:AMKR) Announces Earnings Results, Beats Estimates By $0.07 EPS

Amkor Technology (NASDAQ:AMKRGet Free Report) posted its quarterly earnings results on Monday. The semiconductor company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.41 by $0.07, MarketWatch Earnings reports. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Amkor Technology had a net margin of 6.11% and a return on equity of 10.79%. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period last year, the company posted $0.67 earnings per share. Amkor Technology updated its Q1 guidance to $0.03-0.19 EPS and its Q1 2024 guidance to 0.030-0.190 EPS.

Amkor Technology Stock Up 1.1 %

AMKR opened at $32.31 on Tuesday. Amkor Technology has a fifty-two week low of $17.58 and a fifty-two week high of $34.44. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.95 and a quick ratio of 1.65. The firm’s fifty day moving average price is $31.50 and its two-hundred day moving average price is $27.17. The company has a market capitalization of $7.94 billion, a P/E ratio of 19.58 and a beta of 2.00.

Amkor Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 26th. Shareholders of record on Tuesday, December 5th were paid a dividend of $0.079 per share. The ex-dividend date was Monday, December 4th. This represents a $0.32 dividend on an annualized basis and a yield of 0.98%. This is an increase from Amkor Technology’s previous quarterly dividend of $0.08. Amkor Technology’s payout ratio is currently 18.79%.

Insiders Place Their Bets

In other Amkor Technology news, Director Roger Anthony Carolin sold 20,000 shares of Amkor Technology stock in a transaction on Monday, December 4th. The shares were sold at an average price of $28.31, for a total transaction of $566,200.00. Following the sale, the director now owns 48,392 shares in the company, valued at $1,369,977.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Megan Faust sold 2,700 shares of the business’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $32.00, for a total value of $86,400.00. Following the sale, the chief financial officer now owns 35,394 shares in the company, valued at approximately $1,132,608. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roger Anthony Carolin sold 20,000 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $28.31, for a total transaction of $566,200.00. Following the completion of the sale, the director now owns 48,392 shares in the company, valued at approximately $1,369,977.52. The disclosure for this sale can be found here. Insiders have sold 25,400 shares of company stock worth $723,313 over the last 90 days. Corporate insiders own 53.30% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV boosted its stake in shares of Amkor Technology by 3.2% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 15,359 shares of the semiconductor company’s stock valued at $347,000 after purchasing an additional 475 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Amkor Technology by 11.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,808 shares of the semiconductor company’s stock worth $115,000 after buying an additional 506 shares in the last quarter. LPL Financial LLC lifted its position in Amkor Technology by 1.7% during the 1st quarter. LPL Financial LLC now owns 33,399 shares of the semiconductor company’s stock worth $869,000 after buying an additional 544 shares in the last quarter. United Capital Financial Advisers LLC lifted its position in Amkor Technology by 2.9% during the 2nd quarter. United Capital Financial Advisers LLC now owns 20,683 shares of the semiconductor company’s stock worth $615,000 after buying an additional 592 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in Amkor Technology by 0.3% during the 4th quarter. Alliancebernstein L.P. now owns 242,632 shares of the semiconductor company’s stock worth $5,818,000 after buying an additional 633 shares in the last quarter. Institutional investors and hedge funds own 38.69% of the company’s stock.

Wall Street Analyst Weigh In

AMKR has been the topic of several recent research reports. UBS Group initiated coverage on shares of Amkor Technology in a research report on Thursday, November 16th. They set a “buy” rating and a $31.00 price objective on the stock. Morgan Stanley initiated coverage on shares of Amkor Technology in a research report on Thursday, November 9th. They issued an “equal weight” rating and a $27.00 price target on the stock. StockNews.com raised shares of Amkor Technology from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. Finally, B. Riley lifted their price target on shares of Amkor Technology from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.50.

Check Out Our Latest Report on Amkor Technology

Amkor Technology Company Profile

(Get Free Report)

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and 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.

Further Reading

Earnings History for Amkor Technology (NASDAQ:AMKR)

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