Amkor Technology (NASDAQ:AMKR) Posts Earnings Results, Misses Estimates By $0.02 EPS

Amkor Technology (NASDAQ:AMKR) announced its quarterly earnings results on Monday. The semiconductor company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.02), FiscalAI reports. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Amkor Technology had a return on equity of 12.27% and a net margin of 7.45%.

Amkor Technology Stock Down 6.3%

AMKR stock traded down $2.49 during trading on Monday, hitting $36.81. 20,292,956 shares of the stock traded hands, compared to its average volume of 4,850,888. The stock has a market cap of $9.15 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 0.48 and a beta of 2.21. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.17 and a quick ratio of 1.91. Amkor Technology has a 1 year low of $29.50 and a 1 year high of $96.68. The firm’s 50 day moving average is $49.29 and its two-hundred day moving average is $61.79.

Amkor Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Wednesday, September 2nd were given a dividend of $0.0835 per share. This represents a $0.33 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, September 2nd. Amkor Technology’s dividend payout ratio is 14.80%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AMKR. B. Riley Financial cut their target price on shares of Amkor Technology from $65.00 to $46.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 20th. Bank of America assumed coverage on shares of Amkor Technology in a research note on Thursday, August 27th. They issued a “buy” rating and a $70.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of Amkor Technology in a report on Tuesday, July 28th. Morgan Stanley raised their price objective on shares of Amkor Technology from $69.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings raised Amkor Technology from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.22.

Insiders Place Their Bets

In related news, CFO Megan Faust sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $46.92, for a total transaction of $46,920.00. Following the completion of the sale, the chief financial officer owned 133,105 shares of the company’s stock, valued at $6,245,286.60. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas A. Alexander sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the transaction, the director owned 29,109 shares of the company’s stock, valued at approximately $1,600,995. The trade was a 14.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 46,221 shares of company stock valued at $2,538,507. 26.40% of the stock is owned by company insiders.

About Amkor Technology

Amkor Technology, Inc is a provider of outsourced semiconductor packaging and test services. The company helps semiconductor manufacturers and electronics companies assemble, package and test integrated circuits before they are incorporated into finished electronic products.

Amkor’s services include wafer bumping, wafer-level packaging, flip-chip packaging, system-in-package solutions, fan-out packaging, leadframe and laminate-based packaging, and semiconductor testing. Its products and services support applications including mobile and consumer electronics, communications, automotive, computing, industrial equipment, and memory devices.

Founded in 1968, Amkor has grown into a global semiconductor supply-chain partner with manufacturing and testing operations across regions including Asia, Europe and the United States.