DA Davidson Weighs in on Amkor Technology, Inc.’s Q3 2024 Earnings (NASDAQ:AMKR)

Amkor Technology, Inc. (NASDAQ:AMKR) – Analysts at DA Davidson issued their Q3 2024 earnings estimates for shares of Amkor Technology in a research report issued to clients and investors on Tuesday, July 30th. DA Davidson analyst T. Diffely anticipates that the semiconductor company will earn $0.51 per share for the quarter. DA Davidson currently has a “Buy” rating and a $40.00 target price on the stock. The consensus estimate for Amkor Technology’s current full-year earnings is $1.70 per share.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion. Amkor Technology had a return on equity of 9.41% and a net margin of 5.87%. Amkor Technology’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.26 earnings per share.

A number of other brokerages have also weighed in on AMKR. Needham & Company LLC raised their price objective on Amkor Technology from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. initiated coverage on shares of Amkor Technology in a research report on Monday, July 1st. They set an “overweight” rating and a $48.00 price objective for the company. B. Riley increased their price target on shares of Amkor Technology from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. The Goldman Sachs Group upped their target price on shares of Amkor Technology from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, Morgan Stanley upped their price target on Amkor Technology from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 2nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.14.

Amkor Technology Stock Performance

NASDAQ:AMKR opened at $30.01 on Wednesday. Amkor Technology has a fifty-two week low of $17.58 and a fifty-two week high of $44.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.08 and a current ratio of 2.08. The company has a fifty day moving average of $37.46 and a two-hundred day moving average of $33.75. The stock has a market capitalization of $7.38 billion, a PE ratio of 19.74 and a beta of 1.86.

Institutional Trading of Amkor Technology

Several institutional investors and hedge funds have recently made changes to their positions in AMKR. SG Americas Securities LLC lifted its stake in shares of Amkor Technology by 1.3% during the 2nd quarter. SG Americas Securities LLC now owns 23,694 shares of the semiconductor company’s stock worth $948,000 after purchasing an additional 296 shares during the period. CWM LLC lifted its position in Amkor Technology by 15.1% during the second quarter. CWM LLC now owns 2,359 shares of the semiconductor company’s stock worth $94,000 after buying an additional 309 shares during the period. SummerHaven Investment Management LLC boosted its stake in Amkor Technology by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 24,548 shares of the semiconductor company’s stock worth $817,000 after buying an additional 327 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Amkor Technology by 0.3% during the 1st 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. Finally, Fifth Third Bancorp grew its stake in shares of Amkor Technology by 65.8% during the 4th quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 347 shares during the period. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $42.94, for a total transaction of $1,073,500.00. Following the completion of the transaction, the chief executive officer now owns 128,333 shares in the company, valued at $5,510,619.02. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 31.40% of the stock is owned by company insiders.

Amkor Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Tuesday, June 4th were issued a dividend of $0.079 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.32 annualized dividend and a yield of 1.05%. Amkor Technology’s dividend payout ratio is presently 20.39%.

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.