Amkor Technology (NASDAQ:AMKR) Issues Quarterly Earnings Results

Amkor Technology (NASDAQ:AMKR) released its quarterly earnings results on Monday. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04, Briefing.com reports. Amkor Technology had a net margin of 5.87% and a return on equity of 9.48%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the firm earned $0.26 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. Amkor Technology updated its Q3 guidance to $0.42-0.56 EPS and its Q3 2024 guidance to 0.420-0.560 EPS.

Amkor Technology Stock Up 7.0 %

Shares of AMKR traded up $2.15 during mid-day trading on Wednesday, hitting $32.66. The company’s stock had a trading volume of 2,800,804 shares, compared to its average volume of 1,237,104. The company has a current ratio of 2.34, a quick ratio of 2.08 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average is $37.52 and its 200-day moving average is $33.78. Amkor Technology has a 52-week low of $17.58 and a 52-week high of $44.86. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of 21.49 and a beta of 1.86.

Amkor Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Tuesday, June 4th were issued a dividend of $0.079 per share. This represents a $0.32 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Tuesday, June 4th. Amkor Technology’s payout ratio is 20.39%.

Analysts Set New Price Targets

A number of equities analysts recently commented on AMKR shares. Needham & Company LLC lifted their price objective on Amkor Technology from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. assumed coverage on shares of Amkor Technology in a research note on Monday, July 1st. They issued an “overweight” rating and a $48.00 target price for the company. Morgan Stanley lifted their target price on shares of Amkor Technology from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 2nd. DA Davidson lifted their target price on Amkor Technology from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Finally, The Goldman Sachs Group upped their price target on Amkor Technology from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.14.

Insiders Place Their Bets

In other Amkor Technology news, EVP Mark N. Rogers sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $31.30, for a total transaction of $156,500.00. Following the sale, the executive vice president now owns 25,280 shares of the company’s stock, valued at approximately $791,264. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Mark N. Rogers sold 5,000 shares of Amkor Technology stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $31.30, for a total transaction of $156,500.00. Following the completion of the sale, the executive vice president now owns 25,280 shares of the company’s stock, valued at $791,264. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $42.94, for a total transaction of $1,073,500.00. Following the completion of the sale, the chief executive officer now directly owns 128,333 shares in the company, valued at $5,510,619.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,000 shares of company stock worth $2,708,250. 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.