Amkor Technology (NASDAQ:AMKR) Updates Q2 Earnings Guidance

Amkor Technology (NASDAQ:AMKR) updated its second quarter earnings guidance on Monday. 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 Ratings Changes

A number of analysts have recently weighed in on the company. B. Riley reiterated a buy rating and set a $45.00 target price (up from $43.00) on shares of Amkor Technology in a research report on Tuesday. DA Davidson upped their target price on Amkor Technology from $35.00 to $40.00 and gave the company a buy rating in a research report on Tuesday. Fox Advisors assumed coverage on Amkor Technology in a research report on Thursday, March 14th. They set an equal weight rating for the company. Needham & Company LLC reiterated a buy rating and set a $40.00 target price on shares of Amkor Technology in a research report on Tuesday. Finally, The Goldman Sachs Group assumed coverage on Amkor Technology in a report on Thursday, February 29th. They set a neutral rating and a $32.00 price target for the company. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $37.00.

Amkor Technology Price Performance

AMKR traded down $1.61 on Wednesday, reaching $30.74. The stock had a trading volume of 214,891 shares, compared to its average volume of 938,770. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 21.28 and a beta of 1.96. The firm has a 50-day moving average of $31.60 and a 200-day moving average of $29.73. The company has a current ratio of 2.31, a quick ratio of 2.02 and a debt-to-equity ratio of 0.27. Amkor Technology has a fifty-two week low of $17.58 and a fifty-two week high of $37.00.

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

Amkor Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Tuesday, March 12th were given a dividend of $0.079 per share. The ex-dividend date was Monday, March 11th. This represents a $0.32 annualized dividend and a dividend yield of 1.03%. Amkor Technology’s payout ratio is 20.39%.

Insider Activity at Amkor Technology

In related 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 transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $30.63, for a total value of $765,750.00. Following the transaction, 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 SEC, which can be accessed through this hyperlink. Also, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, 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. Insiders have sold a total of 80,500 shares of company stock worth $2,494,720 in the last 90 days. Corporate 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.