Amkor Technology (NASDAQ:AMKR) Releases Quarterly Earnings Results

Amkor Technology (NASDAQ:AMKR) released its quarterly earnings results on Monday. The semiconductor company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.47 by $0.23, FiscalAI reports. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.81 billion.

Amkor Technology Trading Down 6.5%

AMKR stock traded down $4.25 during midday trading on Monday, hitting $60.71. The stock had a trading volume of 10,599,539 shares, compared to its average volume of 4,890,967. The firm has a market cap of $15.05 billion, a PE ratio of 34.69 and a beta of 2.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.74. Amkor Technology has a 12-month low of $20.86 and a 12-month high of $96.68. The company’s 50-day moving average price is $73.36 and its 200 day moving average price is $60.75.

Amkor Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd were given a dividend of $0.0835 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $0.33 dividend on an annualized basis and a yield of 0.6%. Amkor Technology’s dividend payout ratio (DPR) is 18.86%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMKR. UBS Group raised Amkor Technology from a “neutral” rating to a “buy” rating and upped their target price for the company from $80.00 to $90.00 in a research note on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Amkor Technology in a research report on Friday, July 17th. Melius Research raised Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Monday, April 6th. Needham & Company LLC upped their price objective on Amkor Technology from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Zacks Research raised Amkor Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.25.

Insider Buying and Selling

In other Amkor Technology news, Director Gil C. Tily sold 15,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $77.30, for a total transaction of $1,159,500.00. Following the transaction, the director owned 108,806 shares of the company’s stock, valued at $8,410,703.80. This represents a 12.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Roger Anthony Carolin sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $76.24, for a total value of $1,524,800.00. Following the sale, the director owned 94,409 shares in the company, valued at $7,197,742.16. This trade represents a 17.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 114,000 shares of company stock worth $8,631,450 in the last three months. 26.40% of the stock is currently owned by insiders.

Institutional Trading of Amkor Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMKR. Pacer Advisors Inc. grew its holdings in Amkor Technology by 10.1% in the 4th quarter. Pacer Advisors Inc. now owns 22,836 shares of the semiconductor company’s stock valued at $902,000 after buying an additional 2,098 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of Amkor Technology by 303.2% during the 4th quarter. Corient Private Wealth LLC now owns 216,996 shares of the semiconductor company’s stock worth $8,714,000 after acquiring an additional 163,177 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Amkor Technology by 1.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 35,463 shares of the semiconductor company’s stock worth $1,400,000 after acquiring an additional 472 shares during the period. Vident Advisory LLC boosted its position in shares of Amkor Technology by 2.9% in the fourth quarter. Vident Advisory LLC now owns 10,878 shares of the semiconductor company’s stock worth $429,000 after acquiring an additional 307 shares during the last quarter. Finally, State of Tennessee Department of Treasury boosted its position in shares of Amkor Technology by 19.5% in the fourth quarter. State of Tennessee Department of Treasury now owns 51,501 shares of the semiconductor company’s stock worth $2,033,000 after acquiring an additional 8,407 shares during the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Amkor Technology Company Profile

Amkor Technology, Inc (NASDAQ:AMKR) is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.