Amkor Technology (NASDAQ:AMKR) Issues Q2 Earnings Guidance

Amkor Technology (NASDAQ:AMKR) issued an update on its second quarter earnings guidance on Monday morning. The company provided EPS guidance of $0.14-0.30 for the period, compared to the consensus EPS 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.

Amkor Technology Stock Performance

NASDAQ:AMKR traded up $1.70 during mid-day trading on Tuesday, reaching $33.17. 818,101 shares of the stock were exchanged, compared to its average volume of 921,944. The company has a quick ratio of 2.02, a current ratio of 2.31 and a debt-to-equity ratio of 0.27. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $37.00. The company has a 50 day simple moving average of $31.60 and a 200-day simple moving average of $29.73. The stock has a market capitalization of $8.16 billion, a P/E ratio of 23.69 and a beta of 1.96.

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

Amkor Technology Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Fox Advisors initiated coverage on Amkor Technology in a research report on Thursday, March 14th. They set an equal weight rating for the company. B. Riley reaffirmed a buy rating and issued a $45.00 target price (up previously from $43.00) on shares of Amkor Technology in a report on Tuesday. The Goldman Sachs Group began coverage on shares of Amkor Technology in a research report on Thursday, February 29th. They issued a neutral rating and a $32.00 price objective for the company. Finally, Needham & Company LLC restated a buy rating and issued a $40.00 price target on shares of Amkor Technology 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 company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $35.17.

Insider Activity at Amkor Technology

In other Amkor Technology news, CFO Megan Faust sold 2,700 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 38,811 shares of the company’s stock, valued at $1,177,525.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 124,476 shares of the company’s stock, valued at $3,887,385.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Megan Faust sold 2,700 shares of the 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 sale, 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. Insiders sold 80,500 shares of company stock valued at $2,494,720 in the last ninety days. Corporate insiders own 31.40% of the company’s stock.

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.