Amkor Technology, Inc. (AMKR) to Issue Quarterly Dividend of $0.08 on June 24th

Amkor Technology, Inc. (NASDAQ:AMKR) declared a quarterly dividend on Tuesday, May 14th, Zacks reports. Stockholders of record on Tuesday, June 4th will be given a dividend of 0.079 per share by the semiconductor company on Monday, June 24th. This represents a $0.32 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Tuesday, June 4th.

Amkor Technology has increased its dividend payment by an average of 96.6% per year over the last three years and has increased its dividend every year for the last 3 years. Amkor Technology has a dividend payout ratio of 13.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Amkor Technology to earn $2.47 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 13.0%.

Amkor Technology Stock Performance

NASDAQ:AMKR traded down $0.38 during midday trading on Thursday, reaching $33.40. 121,908 shares of the company traded hands, compared to its average volume of 936,122. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of 22.22 and a beta of 1.94. The company has a fifty day moving average price of $31.82 and a 200 day moving average price of $30.54. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.34 and a quick ratio of 2.08. Amkor Technology has a twelve month low of $17.58 and a twelve month high of $37.00.

Amkor Technology (NASDAQ:AMKR) last announced 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 5.84% and a return on equity of 9.53%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, analysts expect that Amkor Technology will post 1.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $30.63, for a total value of $765,750.00. Following the completion of the transaction, the chief executive officer now directly owns 123,728 shares in the company, valued at $3,789,788.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 123,728 shares of the company’s stock, valued at $3,789,788.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Megan Faust sold 2,700 shares of the company’s stock in a transaction 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 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 quarter, insiders have sold 105,500 shares of company stock worth $3,295,220. Company insiders own 31.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their price target on Amkor Technology from $32.00 to $34.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. B. Riley reissued a “buy” rating and set a $45.00 price target (up from $43.00) on shares of Amkor Technology in a report on Tuesday, April 30th. The Goldman Sachs Group boosted their target price on Amkor Technology from $32.00 to $36.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. DA Davidson upped their price target on shares of Amkor Technology from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of Amkor Technology in a report on Tuesday, April 30th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Amkor Technology has an average rating of “Moderate Buy” and an average target price of $37.67.

Amkor Technology Company Profile

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.