FY2024 EPS Estimates for Amkor Technology Cut by B. Riley

Amkor Technology, Inc. (NASDAQ:AMKR) – Equities researchers at B. Riley dropped their FY2024 earnings estimates for Amkor Technology in a research note issued on Monday, October 28th. B. Riley analyst C. Ellis now expects that the semiconductor company will post earnings per share of $1.40 for the year, down from their prior forecast of $1.50. The consensus estimate for Amkor Technology’s current full-year earnings is $1.55 per share. B. Riley also issued estimates for Amkor Technology’s Q4 2024 earnings at $0.36 EPS, Q1 2025 earnings at $0.26 EPS, Q2 2025 earnings at $0.28 EPS, Q1 2026 earnings at $0.43 EPS, Q2 2026 earnings at $0.46 EPS, Q3 2026 earnings at $0.72 EPS and FY2026 earnings at $2.25 EPS.

Amkor Technology (NASDAQ:AMKR) last released 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). The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 EPS.

Several other equities analysts have also recently weighed in on AMKR. The Goldman Sachs Group decreased their price target 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. StockNews.com downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley cut their price target 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. Needham & Company LLC decreased their price objective on Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday. Finally, KeyCorp dropped their target price on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.63.

Amkor Technology Stock Down 5.2 %

Shares of Amkor Technology stock opened at $27.98 on Wednesday. The firm has a market cap of $6.88 billion, a PE ratio of 18.41 and a beta of 1.84. The business’s 50 day simple moving average is $30.62 and its 200 day simple moving average is $33.26. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.83 and a current ratio of 2.08. Amkor Technology has a 52-week low of $17.58 and a 52-week high of $44.86.

Institutional Investors Weigh In On Amkor Technology

A number of hedge funds and other institutional investors have recently modified their holdings of AMKR. 1620 Investment Advisors Inc. bought a new position in Amkor Technology during the second quarter worth about $31,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Amkor Technology in the second quarter valued at approximately $40,000. Headlands Technologies LLC acquired a new stake in Amkor Technology during the first quarter worth approximately $43,000. Larson Financial Group LLC increased its stake in Amkor Technology by 911.3% during the 2nd quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 1,130 shares during the period. Finally, Rothschild Investment LLC bought a new position in Amkor Technology during the 2nd quarter worth $52,000. Institutional investors and hedge funds own 42.76% of the company’s stock.

Insider Activity

In other Amkor Technology news, Director Winston J. Churchill sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total transaction of $659,400.00. Following the completion of the sale, the director now owns 19,871 shares of the company’s stock, valued at $655,146.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total transaction of $315,100.00. Following the transaction, the chief executive officer now owns 204,971 shares in the company, valued at approximately $6,458,636.21. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Winston J. Churchill sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total value of $659,400.00. Following the completion of the sale, the director now owns 19,871 shares of the company’s stock, valued at $655,146.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 31.40% of the company’s stock.

Amkor Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Tuesday, September 3rd were paid a $0.079 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.32 annualized dividend and a yield of 1.13%. Amkor Technology’s dividend payout ratio is 20.39%.

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.