Amkor Technology (NASDAQ:AMKR) Announces Earnings Results, Beats Expectations By $0.13 EPS

Amkor Technology (NASDAQ:AMKR) issued its quarterly earnings results on Monday. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.13, Briefing.com reports. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Amkor Technology had a return on equity of 9.53% and a net margin of 5.84%. Amkor Technology’s revenue was down 7.2% on a year-over-year basis. During the same period last year, the company earned $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

Shares of Amkor Technology stock opened at $30.33 on Thursday. The firm has a market cap of $7.46 billion, a P/E ratio of 19.95 and a beta of 1.94. The company has a current ratio of 2.34, a quick ratio of 2.02 and a debt-to-equity ratio of 0.26. Amkor Technology has a 12 month low of $17.58 and a 12 month high of $37.00. The stock’s fifty day moving average price is $31.66 and its 200-day moving average price is $29.80.

Amkor Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were paid a dividend of $0.079 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.32 annualized dividend and a dividend yield of 1.04%. Amkor Technology’s dividend payout ratio is currently 20.39%.

Insider Activity

In other 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 transaction 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 legal filing with the SEC, which is accessible through this link. In other Amkor Technology news, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $30.63, for a total value of $765,750.00. Following the completion of the sale, the chief executive officer now directly owns 123,728 shares of the company’s stock, valued at approximately $3,789,788.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 80,500 shares of company stock worth $2,494,720. Company insiders own 31.40% of the company’s stock.

Analyst Upgrades and Downgrades

AMKR has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of Amkor Technology in a research report on Tuesday. B. Riley restated a “buy” rating and issued a $45.00 price target (up from $43.00) on shares of Amkor Technology in a research report on Tuesday. The Goldman Sachs Group increased their target price on Amkor Technology from $32.00 to $36.00 and gave the stock a “neutral” rating in a research note on Wednesday. DA Davidson increased 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. Finally, Morgan Stanley increased their target price on Amkor Technology from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.67.

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.