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

Amkor Technology (NASDAQ:AMKR) posted its quarterly earnings data on Monday. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.13, Briefing.com reports. The firm had revenue of $1.37 billion for 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%. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $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 Stock Performance

Shares of AMKR stock opened at $30.33 on Thursday. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 19.95 and a beta of 1.94. The stock has a 50 day simple moving average of $31.65 and a 200-day simple moving average of $29.80. Amkor Technology has a 12-month low of $17.58 and a 12-month high of $37.00. 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 Dividend Announcement

The firm also recently announced 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. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Monday, March 11th. Amkor Technology’s dividend payout ratio (DPR) is 20.39%.

Insider Transactions at Amkor Technology

In other news, CFO Megan Faust sold 2,700 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 38,811 shares of the company’s stock, valued at approximately $1,177,525.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the 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 sale, the chief executive officer now owns 124,476 shares in the company, valued at approximately $3,887,385.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Megan Faust sold 2,700 shares of the 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 sale, the chief financial officer now owns 38,811 shares in the company, valued at approximately $1,177,525.74. The disclosure for this sale can be found here. In the last three months, 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 Analyst Weigh In

Several equities research analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of Amkor Technology in a report on Tuesday. Fox Advisors began coverage on Amkor Technology in a report on Thursday, March 14th. They set an “equal weight” rating on the stock. B. Riley restated 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. DA Davidson upped their price target on Amkor Technology from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Morgan Stanley upped their price target on Amkor Technology from $32.00 to $34.00 and gave the stock an “equal weight” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently 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.