Amkor Technology (NASDAQ:AMKR) Releases Q3 Earnings Guidance

Amkor Technology (NASDAQ:AMKR) issued an update on its third quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.42-0.56 for the period, compared to the consensus estimate of $0.64. The company issued revenue guidance of $1.785-1.885 billion, compared to the consensus revenue estimate of $1.87 billion. Amkor Technology also updated its Q3 2024 guidance to 0.420-0.560 EPS.

Amkor Technology Stock Down 1.4 %

NASDAQ:AMKR traded down $0.55 on Monday, hitting $37.60. The stock had a trading volume of 2,854,842 shares, compared to its average volume of 1,189,950. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.08 and a current ratio of 2.34. The stock has a market cap of $9.24 billion, a P/E ratio of 24.74 and a beta of 1.86. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $44.86. The firm’s fifty day simple moving average is $37.48 and its two-hundred day simple moving average is $33.73.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.13. Amkor Technology had a net margin of 5.84% and a return on equity of 9.53%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the firm earned $0.18 EPS. The company’s revenue was down 7.2% compared to the same quarter last year. Analysts predict that Amkor Technology will post 1.76 earnings per share for the current year.

Amkor Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.079 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Tuesday, June 4th. Amkor Technology’s dividend payout ratio is currently 20.39%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. DA Davidson increased their target price on shares of Amkor Technology from $35.00 to $40.00 and gave the company a buy rating in a research report on Tuesday, April 30th. Morgan Stanley increased their target price on shares of Amkor Technology from $34.00 to $38.00 and gave the company an equal weight rating in a research report on Tuesday, July 2nd. The Goldman Sachs Group increased their target price on shares of Amkor Technology from $32.00 to $36.00 and gave the company a neutral rating in a research report on Wednesday, May 1st. Needham & Company LLC reaffirmed a buy rating and issued a $40.00 price objective on shares of Amkor Technology in a report on Tuesday, April 30th. Finally, B. Riley raised their price objective on shares of Amkor Technology from $45.00 to $50.00 and gave the stock a buy rating in a report on Thursday, June 20th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Amkor Technology currently has an average rating of Moderate Buy and a consensus price target of $40.43.

Insider Activity

In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $33.37, for a total value of $834,250.00. Following the transaction, the chief executive officer now owns 104,476 shares in the company, valued at approximately $3,486,364.12. The sale was disclosed in a filing with the SEC, which is available 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 Wednesday, May 15th. The shares were sold at an average price of $33.37, for a total value of $834,250.00. Following the sale, the chief executive officer now owns 104,476 shares of the company’s stock, valued at approximately $3,486,364.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark N. Rogers sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $31.30, for a total transaction of $156,500.00. Following the completion of the sale, the executive vice president now directly owns 25,280 shares in the company, valued at approximately $791,264. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,000 shares of company stock worth $2,708,250. 31.40% of the stock is currently owned by corporate 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.