Amkor Technology (NASDAQ:AMKR – Get Free Report) posted its earnings results on Monday. The semiconductor company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.11 by $0.13, Briefing.com reports. Amkor Technology had a net margin of 5.53% and a return on equity of 9.37%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the business posted $0.18 earnings per share. The business’s quarterly revenue was down 7.2% on a year-over-year basis. Amkor Technology updated its Q2 guidance to $0.14-0.30 EPS and its Q2 2024 guidance to 0.140-0.300 EPS.
Amkor Technology Stock Up 2.8 %
Shares of AMKR opened at $32.35 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.02 and a current ratio of 2.31. The company has a 50-day simple moving average of $31.60 and a 200-day simple moving average of $29.73. Amkor Technology has a 52 week low of $17.58 and a 52 week high of $37.00. The firm has a market capitalization of $7.95 billion, a P/E ratio of 22.16 and a beta of 1.96.
Amkor Technology Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were given a $0.079 dividend. The ex-dividend date was Monday, March 11th. This represents a $0.32 annualized dividend and a yield of 0.98%. Amkor Technology’s dividend payout ratio is 21.23%.
Insider Buying and Selling
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on AMKR. DA Davidson increased their price objective on Amkor Technology from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday. B. Riley reissued a “buy” rating and issued a $45.00 price target (up previously from $43.00) on shares of Amkor Technology in a research report on Tuesday. The Goldman Sachs Group assumed coverage on shares of Amkor Technology in a research note on Thursday, February 29th. They issued a “neutral” rating and a $32.00 price objective for the company. Fox Advisors initiated coverage on shares of Amkor Technology in a report on Thursday, March 14th. They issued an “equal weight” rating on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of Amkor Technology in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Amkor Technology presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.
Read Our Latest Stock Analysis on Amkor Technology
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.
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