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 earnings per share guidance of 0.140-0.300 for the period, compared to the consensus earnings per share 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.

Amkor Technology Stock Up 5.2 %

Shares of AMKR stock traded up $1.63 on Tuesday, hitting $33.10. The stock had a trading volume of 1,105,997 shares, compared to its average volume of 926,298. The firm has a market capitalization of $8.14 billion, a price-to-earnings ratio of 23.69 and a beta of 1.96. The stock’s 50 day moving average is $31.60 and its 200-day moving average is $29.73. 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 has a 52-week low of $17.58 and a 52-week high of $37.00.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.13. Amkor Technology had a net margin of 5.53% and a return on equity of 9.37%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the company posted $0.18 earnings per share. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. As a group, research analysts expect that Amkor Technology will post 1.63 earnings per share for the current year.

Amkor Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were paid a dividend of $0.079 per share. The ex-dividend date was Monday, March 11th. This represents a $0.32 dividend on an annualized basis and a yield of 0.95%. Amkor Technology’s dividend payout ratio (DPR) is 21.23%.

Wall Street Analyst Weigh In

AMKR has been the topic of a number of research analyst reports. B. Riley reiterated a buy rating and set a $45.00 price objective (up from $43.00) on shares of Amkor Technology in a research note on Tuesday. Needham & Company LLC restated a buy rating and issued a $40.00 price target on shares of Amkor Technology in a research report on Tuesday. The Goldman Sachs Group started coverage on shares of Amkor Technology in a research report on Thursday, February 29th. They issued a neutral rating and a $32.00 price target on the stock. Finally, Fox Advisors started coverage on shares of Amkor Technology in a research report on Thursday, March 14th. They issued an equal weight rating on the stock. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $35.17.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $31.23, for a total transaction of $780,750.00. Following the transaction, the chief executive officer now owns 124,476 shares of the company’s stock, valued at approximately $3,887,385.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $31.23, for a total transaction of $780,750.00. Following the transaction, the chief executive officer now owns 124,476 shares of the company’s stock, valued at approximately $3,887,385.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Megan Faust sold 2,700 shares of Amkor Technology 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 in the company, valued at approximately $1,177,525.74. The disclosure for this sale can be found here. In the last 90 days, insiders have 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.