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

Amkor Technology (NASDAQ:AMKR) released its earnings results on Monday. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.13, Briefing.com reports. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Amkor Technology had a return on equity of 9.53% and a net margin of 5.84%. Amkor Technology’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 EPS. 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 Trading Up 2.2 %

AMKR traded up $0.67 during midday trading on Thursday, reaching $31.00. 156,693 shares of the company’s stock traded hands, compared to its average volume of 952,549. The firm has a fifty day moving average of $31.66 and a two-hundred day moving average of $29.80. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 19.95 and a beta of 1.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.34 and a quick ratio of 2.02. Amkor Technology has a 52 week low of $17.58 and a 52 week high of $37.00.

Amkor Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were given a dividend of $0.079 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Monday, March 11th. Amkor Technology’s payout ratio is 20.39%.

Insider Transactions at Amkor Technology

In related news, CFO Megan Faust sold 2,700 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 38,811 shares in the company, valued at approximately $1,177,525.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction on Friday, March 15th. The stock was sold at an average price of $31.23, for a total transaction of $780,750.00. Following the transaction, the chief executive officer now directly owns 124,476 shares in the company, valued at $3,887,385.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction on Friday, February 16th. The shares were 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 disclosure for this sale can be found here. In the last quarter, insiders sold 80,500 shares of company stock valued at $2,494,720. Corporate insiders own 31.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMKR. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Amkor Technology in a research note on Tuesday. DA Davidson lifted their target price on Amkor Technology from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday. B. Riley reiterated a “buy” rating and issued a $45.00 target price (up from $43.00) on shares of Amkor Technology in a report on Tuesday. Fox Advisors started coverage on Amkor Technology in a research note on Thursday, March 14th. They issued an “equal weight” rating for the company. Finally, The Goldman Sachs Group lifted their target price on Amkor Technology from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Amkor Technology presently has an average rating of “Moderate Buy” and a consensus price target of $37.67.

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.