Amkor Technology (NASDAQ:AMKR) Updates Q2 2024 Earnings Guidance

Amkor Technology (NASDAQ:AMKR) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of 0.140-0.300 for the period, compared to the consensus EPS estimate of 0.160. The company issued revenue guidance of $1.4 billion-$1.5 billion, compared to the consensus revenue estimate of $1.4 billion. Amkor Technology also updated its Q2 guidance to $0.14-0.30 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AMKR shares. Fox Advisors initiated coverage on shares of Amkor Technology in a report on Thursday, March 14th. They issued an equal weight rating on the stock. Needham & Company LLC started coverage on Amkor Technology in a research note on Tuesday, April 9th. They issued a buy rating and a $40.00 price target on the stock. Finally, The Goldman Sachs Group started coverage on Amkor Technology in a research note on Thursday, February 29th. They set a neutral rating and a $32.00 price objective for the company. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Amkor Technology has an average rating of Moderate Buy and an average target price of $34.33.

Amkor Technology Stock Up 2.8 %

Shares of AMKR traded up $0.85 on Monday, hitting $31.47. 1,454,826 shares of the stock traded hands, compared to its average volume of 924,331. The company has a market capitalization of $7.74 billion, a PE ratio of 21.55 and a beta of 1.96. Amkor Technology has a one year low of $17.58 and a one year high of $37.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.02 and a current ratio of 2.31. The business has a 50 day simple moving average of $31.60 and a 200 day simple moving average of $29.73.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings results on Monday, February 12th. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. Amkor Technology had a return on equity of 9.37% and a net margin of 5.53%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the company posted $0.67 earnings per share. The company’s quarterly revenue was down 8.1% on a year-over-year basis. As a group, equities analysts forecast that Amkor Technology will post 1.63 earnings per share for the current fiscal year.

Amkor Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were paid a $0.079 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.00%. Amkor Technology’s dividend payout ratio is presently 21.23%.

Insider Activity at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $30.63, for a total value of $765,750.00. Following the sale, the chief executive officer now owns 123,728 shares in the company, valued at $3,789,788.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $30.63, for a total transaction of $765,750.00. Following the completion of the sale, the chief executive officer now directly owns 123,728 shares in the company, valued at approximately $3,789,788.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Megan Faust sold 2,800 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $31.09, for a total transaction of $87,052.00. Following the completion of the transaction, the chief financial officer now owns 53,023 shares in the company, valued at approximately $1,648,485.07. The disclosure for this sale can be found here. Insiders have sold a total of 80,500 shares of company stock worth $2,494,720 over the last quarter. Company insiders own 31.40% of the company’s stock.

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.