Amkor Technology (NASDAQ:AMKR) Releases Earnings Results, Misses Expectations By $0.01 EPS

Amkor Technology (NASDAQ:AMKR) posted its quarterly earnings data on Monday. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01), Briefing.com reports. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the firm earned $0.54 EPS. Amkor Technology’s revenue was up 2.2% compared to the same quarter last year. Amkor Technology updated its Q4 guidance to $0.28-$0.44 EPS and its Q4 2024 guidance to 0.280-0.440 EPS.

Amkor Technology Stock Down 4.5 %

AMKR traded down $1.25 on Wednesday, hitting $26.73. The company had a trading volume of 2,501,806 shares, compared to its average volume of 1,331,294. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 17.59 and a beta of 1.84. The stock has a fifty day moving average price of $30.49 and a 200-day moving average price of $33.22. Amkor Technology has a 12-month low of $17.58 and a 12-month high of $44.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.83 and a current ratio of 2.08.

Amkor Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Tuesday, September 3rd were given a dividend of $0.079 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Tuesday, September 3rd. Amkor Technology’s payout ratio is currently 20.39%.

Insider Activity

In other Amkor Technology news, Director Winston J. Churchill sold 20,000 shares of Amkor Technology stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total value of $659,400.00. Following the transaction, the director now directly owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of Amkor Technology stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total transaction of $315,100.00. Following the completion of the sale, the chief executive officer now directly owns 204,971 shares in the company, valued at approximately $6,458,636.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Winston J. Churchill sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total value of $659,400.00. Following the completion of the transaction, the director now directly owns 19,871 shares in the company, valued at approximately $655,146.87. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 31.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AMKR shares. The Goldman Sachs Group lowered their target price on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday. DA Davidson reduced their target price on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday. StockNews.com downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley reduced their price objective on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered their target price on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a report on Tuesday. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $35.63.

About Amkor Technology

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.