Amkor Technology (NASDAQ:AMKR) Announces Earnings Results, Beats Expectations By $0.13 EPS

Amkor Technology (NASDAQ:AMKR) released its quarterly earnings data on Monday. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.13, Briefing.com reports. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Amkor Technology had a net margin of 5.53% and a return on equity of 9.37%. Amkor Technology’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share. Amkor Technology updated its Q2 guidance to $0.14-0.30 EPS and its Q2 2024 guidance to 0.140-0.300 EPS.

Amkor Technology Trading Up 9.9 %

NASDAQ:AMKR opened at $34.58 on Tuesday. Amkor Technology has a 12-month low of $17.58 and a 12-month high of $37.00. The firm has a market capitalization of $8.50 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. The business has a 50 day simple moving average of $31.60 and a 200 day simple moving average of $29.73.

Amkor Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were issued a dividend of $0.079 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Monday, March 11th. Amkor Technology’s dividend payout ratio (DPR) is presently 21.23%.

Wall Street Analyst Weigh In

AMKR has been the subject of a number of analyst reports. The Goldman Sachs Group assumed coverage on shares of Amkor Technology in a research report on Thursday, February 29th. They set a “neutral” rating and a $32.00 price objective for the company. B. Riley reaffirmed a “buy” rating and issued a $45.00 target price (up from $43.00) on shares of Amkor Technology in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of Amkor Technology in a report on Tuesday. Finally, Fox Advisors began coverage on shares of Amkor Technology in a research note on Thursday, March 14th. They issued an “equal weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.17.

Insider Transactions at Amkor Technology

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

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.