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

Amkor Technology (NASDAQ:AMKR) issued 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. Amkor Technology had a net margin of 5.84% and a return on equity of 9.63%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the company posted $0.18 earnings per share. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. 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 Price Performance

Shares of NASDAQ:AMKR traded down $2.10 on Wednesday, reaching $30.25. The company’s stock had a trading volume of 728,113 shares, compared to its average volume of 945,246. Amkor Technology has a 52-week low of $17.58 and a 52-week 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 company has a 50-day simple moving average of $31.65 and a 200 day simple moving average of $29.80. The company has a market cap of $7.44 billion, a P/E ratio of 19.89 and a beta of 1.96.

Amkor Technology Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMKR. Morgan Stanley raised their price objective on shares of Amkor Technology from $32.00 to $34.00 and gave the company an “equal weight” rating in a research report on Tuesday. DA Davidson raised their price objective on shares of Amkor Technology from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday. The Goldman Sachs Group raised their price objective on shares of Amkor Technology from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday. Needham & Company LLC restated a “buy” rating and set a $40.00 price objective on shares of Amkor Technology in a research report on Tuesday. Finally, Fox Advisors began coverage on shares of Amkor Technology in a research report on Thursday, March 14th. They set an “equal weight” rating on the stock. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.67.

Insider Buying and Selling

In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $31.17, for a total transaction of $779,250.00. Following the completion of the transaction, the chief executive officer now directly owns 114,476 shares of the company’s stock, valued at approximately $3,568,216.92. The transaction was disclosed in a filing with the SEC, which is available through 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 Tuesday, April 16th. The shares were sold at an average price of $31.17, for a total value of $779,250.00. Following the completion of the sale, the chief executive officer now directly owns 114,476 shares of the company’s stock, valued at approximately $3,568,216.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Megan Faust sold 2,800 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $31.09, for a total transaction of $87,052.00. Following the completion of the sale, the chief financial officer now directly owns 53,023 shares of the company’s stock, valued at $1,648,485.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,500 shares of company stock valued at $2,494,720. 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.