Amkor Technology (NASDAQ:AMKR) Announces Earnings Results, Beats Estimates By $0.23 EPS

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

Amkor Technology Price Performance

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

Amkor Technology Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AMKR shares. Needham & Company LLC lifted their target price on shares of Amkor Technology from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. UBS Group raised shares of Amkor Technology from a “neutral” rating to a “buy” rating and increased their price target for the stock from $80.00 to $90.00 in a report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Amkor Technology in a research report on Friday, July 17th. B. Riley Financial lowered their price objective on Amkor Technology from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, July 22nd. Finally, Morgan Stanley boosted their target price on Amkor Technology from $45.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.25.

Insider Activity

In other Amkor Technology news, Director Guillaume Marie Jean Rutten sold 50,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $74.28, for a total transaction of $3,714,000.00. Following the transaction, the director directly owned 502,558 shares in the company, valued at approximately $37,330,008.24. This represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark N. Rogers sold 5,000 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $86.21, for a total transaction of $431,050.00. Following the completion of the transaction, the executive vice president directly owned 38,904 shares of the company’s stock, valued at approximately $3,353,913.84. This trade represents a 11.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 114,000 shares of company stock valued at $8,631,450 in the last quarter. Insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

Several hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. boosted its position in Amkor Technology by 10.1% during the fourth quarter. Pacer Advisors Inc. now owns 22,836 shares of the semiconductor company’s stock worth $902,000 after purchasing an additional 2,098 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of Amkor Technology by 303.2% in the fourth quarter. Corient Private Wealth LLC now owns 216,996 shares of the semiconductor company’s stock valued at $8,714,000 after buying an additional 163,177 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake 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 buying an additional 472 shares during the last quarter. Vident Advisory LLC raised its stake in shares of Amkor Technology by 2.9% during the 4th quarter. Vident Advisory LLC now owns 10,878 shares of the semiconductor company’s stock worth $429,000 after buying 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 4th quarter. State of Tennessee Department of Treasury now owns 51,501 shares of the semiconductor company’s stock worth $2,033,000 after buying an additional 8,407 shares in the last quarter. 42.76% of the stock is owned by hedge funds and other institutional investors.

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.