Amkor Technology, Inc. Announces Quarterly Dividend of $0.08 (NASDAQ:AMKR)

Amkor Technology, Inc. (NASDAQ:AMKR) announced a quarterly dividend on Tuesday, August 13th, Zacks reports. Shareholders of record on Tuesday, September 3rd will be given a dividend of 0.079 per share by the semiconductor company on Monday, September 23rd. This represents a $0.32 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Tuesday, September 3rd.

Amkor Technology has raised its dividend by an average of 96.6% per year over the last three years. Amkor Technology has a payout ratio of 13.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Amkor Technology to earn $2.29 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 14.0%.

Amkor Technology Stock Performance

AMKR stock opened at $32.51 on Thursday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.23. The business’s fifty day simple moving average is $36.99 and its two-hundred day simple moving average is $33.63. Amkor Technology has a twelve month low of $17.58 and a twelve month high of $44.86. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 20.94 and a beta of 1.86.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, July 29th. The semiconductor company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Amkor Technology had a return on equity of 9.41% and a net margin of 5.87%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the firm posted $0.26 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. Analysts predict that Amkor Technology will post 1.53 earnings per share for the current year.

Insider Transactions at Amkor Technology

In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $42.94, for a total value of $1,073,500.00. Following the completion of the transaction, the chief executive officer now directly owns 128,333 shares in the company, valued at $5,510,619.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 31.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. B. Riley increased their price target on Amkor Technology from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. JPMorgan Chase & Co. began coverage on Amkor Technology in a research report on Monday, July 1st. They set an “overweight” rating and a $48.00 price objective on the stock. The Goldman Sachs Group raised their price objective on Amkor Technology from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Needham & Company LLC raised their price objective on Amkor Technology from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, DA Davidson raised their price objective on Amkor Technology from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Amkor Technology has a consensus rating of “Moderate Buy” and a consensus price target of $41.14.

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.