Amkor Technology (NASDAQ:AMKR) Updates Q2 2024 Earnings Guidance

Amkor Technology (NASDAQ:AMKR) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.140-0.300 for the period, compared to the consensus estimate of 0.160. The company issued revenue guidance of $1.4 billion-$1.5 billion, compared to the consensus revenue estimate of $1.4 billion. Amkor Technology also updated its Q2 guidance to $0.14-0.30 EPS.

Amkor Technology Stock Up 5.2 %

NASDAQ:AMKR traded up $1.63 during trading hours on Tuesday, reaching $33.10. 1,105,997 shares of the stock were exchanged, compared to its average volume of 926,298. Amkor Technology has a twelve month low of $17.58 and a twelve month high of $37.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.31 and a quick ratio of 2.02. The firm has a 50 day moving average of $31.60 and a 200 day moving average of $29.73. The stock has a market cap of $8.14 billion, a PE ratio of 23.69 and a beta of 1.96.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.13. Amkor Technology had a return on equity of 9.37% and a net margin of 5.53%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the firm posted $0.18 EPS. The business’s revenue was down 7.2% on a year-over-year basis. On average, equities analysts expect 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 $0.079 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Monday, March 11th. Amkor Technology’s payout ratio is presently 21.23%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $30.34, for a total value of $81,918.00. Following the transaction, the chief financial officer now owns 38,811 shares in the company, valued at $1,177,525.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $30.34, for a total value of $81,918.00. Following the transaction, the chief financial officer now owns 38,811 shares in the company, valued at $1,177,525.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $31.17, for a total value of $779,250.00. Following the completion of the transaction, the chief executive officer now owns 114,476 shares in the company, valued at approximately $3,568,216.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,500 shares of company stock worth $2,494,720. Company insiders own 31.40% of the company’s stock.

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.