Amkor Technology (NASDAQ:AMKR) Releases Q2 Earnings Guidance

Amkor Technology (NASDAQ:AMKR) updated its second quarter earnings guidance on Monday. The company provided EPS guidance of $0.14-0.30 for the period, compared to the consensus EPS estimate of $0.16. The company issued revenue guidance of $1.40-1.50 billion, compared to the consensus revenue estimate of $1.39 billion. Amkor Technology also updated its Q2 2024 guidance to 0.140-0.300 EPS.

Amkor Technology Stock Up 5.4 %

NASDAQ:AMKR traded up $1.70 during mid-day trading on Tuesday, reaching $33.17. The company’s stock had a trading volume of 818,101 shares, compared to its average volume of 921,944. The company has a quick ratio of 2.02, a current ratio of 2.31 and a debt-to-equity ratio of 0.27. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $37.00. The stock has a fifty day moving average of $31.60 and a 200-day moving average of $29.73. The firm has a market capitalization of $8.16 billion, a PE ratio of 23.69 and a beta of 1.96.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.13. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Amkor Technology had a net margin of 5.53% and a return on equity of 9.37%. The company’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.18 EPS. Equities research analysts forecast that Amkor Technology will post 1.63 earnings per share for the current year.

Amkor Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were issued a dividend of $0.079 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Monday, March 11th. Amkor Technology’s dividend payout ratio (DPR) is presently 21.23%.

Analyst Ratings Changes

AMKR has been the topic of a number of recent research reports. Fox Advisors started coverage on Amkor Technology in a research report on Thursday, March 14th. They issued an equal weight rating on the stock. B. Riley reiterated a buy rating and issued a $45.00 price objective (up previously from $43.00) on shares of Amkor Technology in a research note on Tuesday. Needham & Company LLC restated a buy rating and set a $40.00 target price on shares of Amkor Technology in a research report on Tuesday. Finally, The Goldman Sachs Group started coverage on shares of Amkor Technology in a report on Thursday, February 29th. They issued a neutral rating and a $32.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $35.17.

Insider Activity

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $31.17, for a total transaction of $779,250.00. Following the transaction, the chief executive officer now owns 114,476 shares in the company, valued at $3,568,216.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $31.17, for a total transaction of $779,250.00. Following the completion of the transaction, the chief executive officer now directly owns 114,476 shares in the company, valued at $3,568,216.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Megan Faust sold 2,800 shares of Amkor Technology stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $31.09, for a total transaction of $87,052.00. Following the completion of the sale, the chief financial officer now owns 53,023 shares in the company, valued at approximately $1,648,485.07. The disclosure for this sale can be found here. Insiders have sold 80,500 shares of company stock worth $2,494,720 in the last ninety 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.