Amkor Technology (NASDAQ:AMKR) Releases Earnings Results, Beats Estimates By $0.13 EPS

Amkor Technology (NASDAQ:AMKR) announced its quarterly earnings results on Monday. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.13, Briefing.com reports. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Amkor Technology had a return on equity of 9.63% and a net margin of 5.84%. The company’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 earnings per share. 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 Performance

NASDAQ:AMKR opened at $32.35 on Wednesday. The company has a current ratio of 2.31, a quick ratio of 2.02 and a debt-to-equity ratio of 0.27. Amkor Technology has a 12-month low of $17.58 and a 12-month high of $37.00. The stock has a 50-day moving average price of $31.60 and a 200 day moving average price of $29.73. The stock has a market capitalization of $7.95 billion, a P/E ratio of 21.28 and a beta of 1.96.

Amkor Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Tuesday, March 12th were given a dividend of $0.079 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Monday, March 11th. Amkor Technology’s dividend payout ratio is currently 20.39%.

Analyst Ratings Changes

A number of research firms have weighed in on AMKR. The Goldman Sachs Group began coverage on Amkor Technology in a report on Thursday, February 29th. They issued a “neutral” rating and a $32.00 target price on the stock. B. Riley reissued a “buy” rating and issued a $45.00 target price (up previously from $43.00) on shares of Amkor Technology in a report on Tuesday. Fox Advisors began coverage on Amkor Technology in a report on Thursday, March 14th. They issued an “equal weight” rating on the stock. DA Davidson increased their target price on Amkor Technology from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of Amkor Technology in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Amkor Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Insider Buying and Selling

In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $31.17, for a total transaction of $779,250.00. Following the completion of the sale, the chief executive officer now 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 the SEC website. In related 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 completion of the transaction, the chief executive officer now directly owns 114,476 shares of the company’s stock, valued at $3,568,216.92. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Megan Faust sold 2,800 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $31.09, for a total value of $87,052.00. Following the transaction, the chief financial officer now directly owns 53,023 shares of the company’s stock, valued at $1,648,485.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,500 shares of company stock worth $2,494,720. 31.40% of the stock is owned by corporate insiders.

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.