Amkor Technology (NASDAQ:AMKR) Announces Quarterly Earnings Results

Amkor Technology (NASDAQ:AMKR) issued its quarterly earnings results on Monday. The semiconductor company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04, Briefing.com reports. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.45 billion. Amkor Technology had a return on equity of 9.41% and a net margin of 5.87%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 EPS. Amkor Technology updated its Q3 guidance to $0.42-0.56 EPS and its Q3 2024 guidance to 0.420-0.560 EPS.

Amkor Technology Price Performance

Shares of NASDAQ AMKR opened at $32.66 on Thursday. The business has a 50-day moving average of $37.52 and a 200-day moving average of $33.78. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of 21.49 and a beta of 1.86. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.08 and a quick ratio of 2.08. Amkor Technology has a 1-year low of $17.58 and a 1-year high of $44.86.

Amkor Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Tuesday, June 4th were issued a $0.079 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.32 annualized dividend and a yield of 0.97%. Amkor Technology’s dividend payout ratio is currently 20.39%.

Analysts Set New Price Targets

AMKR has been the topic of several recent analyst reports. Needham & Company LLC increased their target price on Amkor Technology from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday. The Goldman Sachs Group raised their target price on shares of Amkor Technology from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. DA Davidson upped their price target on shares of Amkor Technology from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. B. Riley lifted their price target on shares of Amkor Technology from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Finally, JPMorgan Chase & Co. began coverage on shares of Amkor Technology in a research note on Monday, July 1st. They set an “overweight” rating and a $48.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.14.

Insider Activity

In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $33.37, for a total transaction of $834,250.00. Following the completion of the sale, the chief executive officer now directly owns 104,476 shares in the company, valued at $3,486,364.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $33.37, for a total transaction of $834,250.00. Following the completion of the sale, the chief executive officer now owns 104,476 shares of the company’s stock, valued at $3,486,364.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gil C. Tily sold 20,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $32.20, for a total transaction of $644,000.00. Following the completion of the sale, the director now directly owns 129,218 shares in the company, valued at $4,160,819.60. The disclosure for this sale can be found here. Insiders have sold 70,000 shares of company stock worth $2,551,750 over the last 90 days. Company insiders own 31.40% of the company’s stock.

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.