Amkor Technology (NASDAQ:AMKR) Releases Q2 2024 Earnings Guidance

Amkor Technology (NASDAQ:AMKR) updated its second quarter 2024 earnings guidance on Monday. 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 Performance

Amkor Technology stock traded down $2.02 on Wednesday, hitting $30.33. The company’s stock had a trading volume of 414,553 shares, compared to its average volume of 941,625. The company has a fifty day moving average price of $31.65 and a 200-day moving average price of $29.80. The firm has a market cap of $7.46 billion, a P/E ratio of 19.93 and a beta of 1.96. Amkor Technology has a one year low of $17.58 and a one year high of $37.00. 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 (NASDAQ:AMKR) last released its earnings results on Monday, April 29th. The semiconductor company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.11 by $0.13. Amkor Technology had a return on equity of 9.63% and a net margin of 5.84%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the firm earned $0.18 EPS. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, equities analysts anticipate that Amkor Technology will post 1.63 earnings per share for the current year.

Amkor Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders 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 yield of 1.04%. The ex-dividend date of this dividend was Monday, March 11th. Amkor Technology’s dividend payout ratio (DPR) is presently 20.39%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. DA Davidson boosted their price target on Amkor Technology from $35.00 to $40.00 and gave the company a buy rating in a research note on Tuesday. Morgan Stanley raised their target price on shares of Amkor Technology from $32.00 to $34.00 and gave the company an equal weight rating in a report on Tuesday. The Goldman Sachs Group began coverage on Amkor Technology in a research note on Thursday, February 29th. They set a neutral rating and a $32.00 target price for the company. Needham & Company LLC reissued a buy rating and issued a $40.00 price objective on shares of Amkor Technology in a research note on Tuesday. Finally, Fox Advisors assumed coverage on shares of Amkor Technology in a research note on Thursday, March 14th. They issued an equal weight rating on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $37.00.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the 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 transaction, the chief executive officer now owns 123,728 shares in the company, valued at $3,789,788.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Megan Faust sold 2,800 shares of Amkor Technology stock in a transaction on Friday, March 15th. The shares were sold at an average price of $31.09, for a total transaction of $87,052.00. Following the transaction, the chief financial officer now owns 53,023 shares in the company, valued at approximately $1,648,485.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction dated 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 approximately $3,789,788.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,500 shares of company stock valued at $2,494,720. 31.40% of the stock is currently owned by company insiders.

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.