Amkor Technology (NASDAQ:AMKR) Updates Q2 Earnings Guidance

Amkor Technology (NASDAQ:AMKR) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.14-0.30 for the period, compared to the consensus earnings per share estimate of $0.16. The company issued revenue guidance of $1.40-1.50 billion, compared to the consensus revenue estimate of $1.39 billion. Amkor Technology also updated its Q2 2024 guidance to 0.140-0.300 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AMKR shares. B. Riley reiterated a buy rating and set a $45.00 price target (up previously from $43.00) on shares of Amkor Technology in a research report on Tuesday. DA Davidson boosted their target price on shares of Amkor Technology from $35.00 to $40.00 and gave the company a buy rating in a report on Tuesday. The Goldman Sachs Group boosted their price objective on shares of Amkor Technology from $32.00 to $36.00 and gave the stock a neutral rating in a research note on Wednesday. Fox Advisors started coverage on shares of Amkor Technology in a report on Thursday, March 14th. They issued an equal weight rating on the stock. 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 research note on Tuesday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Amkor Technology presently has a consensus rating of Moderate Buy and an average target price of $37.67.

Amkor Technology Price Performance

Shares of NASDAQ:AMKR opened at $30.33 on Thursday. The business has a 50-day simple moving average of $31.65 and a two-hundred day simple moving average of $29.80. Amkor Technology has a fifty-two week low of $17.58 and a fifty-two week high of $37.00. The firm has a market cap of $7.46 billion, a price-to-earnings ratio of 19.95 and a beta of 1.96. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.02 and a current ratio of 2.31.

Amkor Technology (NASDAQ:AMKR) last posted its earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.13. Amkor Technology had a return on equity of 9.63% and a net margin of 5.84%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the company earned $0.18 earnings per share. Amkor Technology’s revenue was down 7.2% on a year-over-year basis. On average, analysts expect that Amkor Technology will post 1.63 earnings per share for the current year.

Amkor Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders 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 dividend yield of 1.04%. The ex-dividend date was Monday, March 11th. Amkor Technology’s payout ratio is 20.39%.

Insider Buying and Selling

In other Amkor Technology news, CFO Megan Faust sold 2,700 shares of the company’s 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 completion of the sale, the chief financial officer now owns 38,811 shares in the company, valued at $1,177,525.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $31.23, for a total transaction of $780,750.00. Following the completion of the sale, the chief executive officer now 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 accessible through the SEC website. Also, CFO Megan Faust sold 2,700 shares of the business’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 completion of the transaction, the chief financial officer now directly 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 three months, insiders have sold 80,500 shares of company stock valued at $2,494,720. 31.40% of the stock is owned by company insiders.

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.