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

Amkor Technology (NASDAQ:AMKR) announced its earnings results on Monday. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.13, Briefing.com reports. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Amkor Technology had a net margin of 5.53% and a return on equity of 9.37%. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter last year, the company posted $0.18 EPS. 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 Stock Up 2.8 %

Shares of NASDAQ AMKR opened at $31.47 on Tuesday. The firm has a market capitalization of $7.74 billion, a PE ratio of 21.55 and a beta of 1.96. The company has a current ratio of 2.31, a quick ratio of 2.02 and a debt-to-equity ratio of 0.27. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $37.00. The firm’s 50-day moving average is $31.60 and its 200-day moving average is $29.73.

Amkor Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were paid a $0.079 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Monday, March 11th. Amkor Technology’s dividend payout ratio (DPR) is presently 21.23%.

Insider Activity

In related news, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $30.34, for a total transaction of $81,918.00. Following the transaction, the chief financial officer now owns 38,811 shares of the company’s stock, valued at approximately $1,177,525.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Amkor Technology news, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $30.34, for a total transaction of $81,918.00. Following the sale, the chief financial officer now directly owns 38,811 shares in the company, valued at approximately $1,177,525.74. The sale was disclosed in a 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 that occurred on Friday, March 15th. The stock was sold at an average price of $31.23, for a total transaction of $780,750.00. Following the sale, the chief executive officer now owns 124,476 shares in the company, valued at $3,887,385.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,500 shares of company stock valued at $2,494,720. 31.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AMKR has been the topic of a number of research analyst reports. Fox Advisors initiated coverage on shares of Amkor Technology in a report on Thursday, March 14th. They set an “equal weight” rating on the stock. The Goldman Sachs Group initiated coverage on shares of Amkor Technology in a report on Thursday, February 29th. They set a “neutral” rating and a $32.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $40.00 price objective on shares of Amkor Technology in a report on Tuesday. Finally, B. Riley reissued a “buy” rating and set a $45.00 price objective (up previously from $43.00) on shares of Amkor Technology in a report on Tuesday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Amkor Technology has a consensus rating of “Moderate Buy” and an average price target of $35.17.

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.