Amkor Technology (NASDAQ:AMKR) Issues Earnings Results

Amkor Technology (NASDAQ:AMKR) released its quarterly earnings data 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 company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the firm earned $0.18 EPS. Amkor Technology’s revenue for the quarter 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 Price Performance

Shares of Amkor Technology stock opened at $31.47 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.31 and a quick ratio of 2.02. Amkor Technology has a one year low of $17.58 and a one year high of $37.00. The business’s 50 day simple moving average is $31.60 and its two-hundred day simple moving average is $29.73. The stock has a market capitalization of $7.74 billion, a P/E ratio of 21.55 and a beta of 1.96.

Amkor Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were paid a $0.079 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Monday, March 11th. Amkor Technology’s dividend payout ratio (DPR) is presently 21.23%.

Analyst Upgrades and Downgrades

AMKR has been the topic of a number of recent analyst reports. Fox Advisors started coverage on shares of Amkor Technology in a report on Thursday, March 14th. They issued an “equal weight” rating on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of Amkor Technology in a research note on Tuesday. Finally, The Goldman Sachs Group started coverage on shares of Amkor Technology in a research report on Thursday, February 29th. They set a “neutral” rating and a $32.00 price target for the company. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.33.

Insider Activity

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $30.63, for a total value of $765,750.00. Following the sale, the chief executive officer now owns 123,728 shares of the company’s stock, valued at approximately $3,789,788.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $30.63, for a total transaction of $765,750.00. Following the transaction, the chief executive officer now directly owns 123,728 shares of the company’s stock, valued at approximately $3,789,788.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Megan Faust sold 2,800 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was 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 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 valued at $2,494,720. 31.40% of the stock is currently owned by company insiders.

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.