Amkor Technology, Inc. (NASDAQ:AMKR) Announces Dividend Increase – $0.08 Per Share

Amkor Technology, Inc. (NASDAQ:AMKR) declared a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Shareholders of record on Wednesday, December 4th will be given a dividend of 0.0827 per share by the semiconductor company on Monday, December 23rd. This represents a $0.33 annualized dividend and a yield of 1.31%. The ex-dividend date is Wednesday, December 4th. This is a positive change from Amkor Technology’s previous quarterly dividend of $0.08.

Amkor Technology has increased its dividend payment by an average of 96.6% annually over the last three years. Amkor Technology has a payout ratio of 16.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Amkor Technology to earn $1.85 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 17.3%.

Amkor Technology Stock Performance

Shares of Amkor Technology stock traded down $0.83 during trading on Friday, reaching $25.19. The company’s stock had a trading volume of 1,033,580 shares, compared to its average volume of 1,330,952. The company has a 50-day moving average price of $29.30 and a two-hundred day moving average price of $32.94. Amkor Technology has a fifty-two week low of $24.10 and a fifty-two week high of $44.86. The firm has a market cap of $6.21 billion, a PE ratio of 17.38 and a beta of 1.85. The company has a current ratio of 2.06, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.01). Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the firm earned $0.54 EPS. The business’s revenue was up 2.2% on a year-over-year basis. On average, analysts forecast that Amkor Technology will post 1.42 EPS for the current year.

Insider Activity

In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total value of $315,100.00. Following the transaction, the chief executive officer now directly owns 204,971 shares in the company, valued at $6,458,636.21. This trade represents a 4.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Winston J. Churchill sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total value of $659,400.00. Following the sale, the director now owns 19,871 shares of the company’s stock, valued at $655,146.87. The trade was a 50.16 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company’s stock.

Analyst Ratings Changes

AMKR has been the subject of a number of recent analyst reports. Needham & Company LLC reduced their target price on Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. The Goldman Sachs Group reduced their price objective on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. Morgan Stanley lowered their target price on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. KeyCorp reduced their price target on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Finally, DA Davidson decreased their price target on Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.63.

Amkor Technology Company Profile

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.