Amkor Technology (NASDAQ:AMKR) Updates Q3 Earnings Guidance

Amkor Technology (NASDAQ:AMKR) updated its third quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.42-0.56 for the period, compared to the consensus estimate of $0.64. The company issued revenue guidance of $1.785-1.885 billion, compared to the consensus revenue estimate of $1.87 billion. Amkor Technology also updated its Q3 2024 guidance to 0.420-0.560 EPS.

Analyst Upgrades and Downgrades

AMKR has been the topic of several recent research reports. JPMorgan Chase & Co. began coverage on shares of Amkor Technology in a report on Monday, July 1st. They set an overweight rating and a $48.00 target price on the stock. DA Davidson raised their price objective on Amkor Technology from $35.00 to $40.00 and gave the company a buy rating in a research note on Tuesday, April 30th. Needham & Company LLC boosted their target price on Amkor Technology from $40.00 to $45.00 and gave the company a buy rating in a research note on Tuesday. Morgan Stanley increased their target price on Amkor Technology from $34.00 to $38.00 and gave the company an equal weight rating in a report on Tuesday, July 2nd. Finally, B. Riley boosted their price objective on Amkor Technology from $45.00 to $50.00 and gave the company a buy rating in a research report on Thursday, June 20th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Amkor Technology currently has a consensus rating of Moderate Buy and a consensus price target of $41.14.

Amkor Technology Stock Down 14.5 %

Shares of Amkor Technology stock traded down $5.47 during midday trading on Tuesday, hitting $32.13. The company had a trading volume of 1,555,309 shares, compared to its average volume of 1,192,623. Amkor Technology has a 52-week low of $17.58 and a 52-week high of $44.86. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.08 and a current ratio of 2.34. The stock has a market capitalization of $7.90 billion, a P/E ratio of 22.23 and a beta of 1.86. The company has a 50 day moving average of $37.57 and a 200 day moving average of $33.78.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Amkor Technology had a return on equity of 9.53% and a net margin of 5.84%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 EPS. On average, equities analysts predict that Amkor Technology will post 1.76 earnings per share for the current fiscal year.

Amkor Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Tuesday, June 4th were given a $0.079 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Tuesday, June 4th. Amkor Technology’s dividend payout ratio (DPR) is 20.39%.

Insider Activity at Amkor Technology

In other news, EVP Mark N. Rogers sold 5,000 shares of Amkor Technology stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $31.30, for a total transaction of $156,500.00. Following the transaction, the executive vice president now owns 25,280 shares in the company, valued at approximately $791,264. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Amkor Technology news, Director Gil C. Tily sold 20,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $32.20, for a total value of $644,000.00. Following the completion of the sale, the director now owns 129,218 shares in the company, valued at $4,160,819.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Mark N. Rogers sold 5,000 shares of Amkor Technology stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $31.30, for a total value of $156,500.00. Following the transaction, the executive vice president now directly owns 25,280 shares in the company, valued at $791,264. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,000 shares of company stock worth $2,708,250. 31.40% of the stock is owned by company insiders.

Amkor Technology Company Profile

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.