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 earnings per share (EPS) guidance of $0.14-0.30 for the period, compared to the consensus 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 Up 2.8 %

Amkor Technology stock traded up $0.85 during trading hours on Monday, hitting $31.47. The company had a trading volume of 1,454,826 shares, compared to its average volume of 924,331. The firm’s fifty day moving average is $31.60 and its 200-day moving average is $29.73. Amkor Technology has a fifty-two week low of $17.58 and a fifty-two week high of $37.00. The firm has a market capitalization of $7.74 billion, a P/E ratio of 21.55 and a beta of 1.96. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.31 and a quick ratio of 2.02.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data on Monday, February 12th. The semiconductor company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.41 by $0.07. Amkor Technology had a net margin of 5.53% and a return on equity of 9.37%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the firm posted $0.67 EPS. The company’s quarterly revenue was down 8.1% on a year-over-year basis. On average, research analysts forecast that Amkor Technology will post 1.63 earnings per share for the current year.

Amkor Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were given a $0.079 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.32 annualized dividend and a yield of 1.00%. Amkor Technology’s payout ratio is 21.23%.

Analysts Set New Price Targets

Several brokerages have issued reports on AMKR. Fox Advisors began coverage on Amkor Technology in a research report on Thursday, March 14th. They issued an equal weight rating on the stock. Needham & Company LLC initiated coverage on Amkor Technology in a research note on Tuesday, April 9th. They issued a buy rating and a $40.00 price objective on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of Amkor Technology in a report on Thursday, February 29th. They set a neutral rating and a $32.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $34.33.

Insider Activity at Amkor Technology

In other Amkor Technology news, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction on Friday, February 16th. The stock was sold at an average price of $30.34, for a total transaction of $81,918.00. Following the completion of the sale, the chief financial officer now directly owns 38,811 shares of the company’s stock, valued at approximately $1,177,525.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Megan Faust sold 2,700 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $30.34, for a total transaction of $81,918.00. Following the transaction, the chief financial officer now directly owns 38,811 shares of the company’s stock, valued at approximately $1,177,525.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $31.17, for a total value of $779,250.00. Following the transaction, the chief executive officer now directly owns 114,476 shares in the company, valued at $3,568,216.92. The disclosure for this sale can be found here. Insiders sold a total of 80,500 shares of company stock worth $2,494,720 in the last quarter. 31.40% of the stock is 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.