Amkor Technology (NASDAQ:AMKR) Issues Q3 Earnings Guidance

Amkor Technology (NASDAQ:AMKR) issued an update on its third quarter earnings guidance on Monday morning. The company provided EPS guidance of $0.42-0.56 for the period, compared to the consensus EPS 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 Stock Performance

AMKR stock traded down $0.55 during trading on Monday, reaching $37.60. 2,803,660 shares of the stock were exchanged, compared to its average volume of 1,189,715. Amkor Technology has a twelve month low of $17.58 and a twelve month high of $44.86. The company has a market capitalization of $9.24 billion, a P/E ratio of 25.10 and a beta of 1.86. The stock has a 50 day simple moving average of $37.48 and a 200-day simple moving average of $33.73. The company has a current ratio of 2.34, a quick ratio of 2.08 and a debt-to-equity ratio of 0.26.

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, topping analysts’ consensus estimates of $0.11 by $0.13. Amkor Technology had a return on equity of 9.53% and a net margin of 5.84%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the business earned $0.18 earnings per share. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amkor Technology will post 1.76 earnings per share for the current year.

Amkor Technology Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Needham & Company LLC reaffirmed a buy rating and set a $40.00 price objective on shares of Amkor Technology in a report on Tuesday, April 30th. Morgan Stanley lifted their price objective on Amkor Technology from $34.00 to $38.00 and gave the company an equal weight rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. assumed coverage on Amkor Technology in a report on Monday, July 1st. They issued an overweight rating and a $48.00 target price on the stock. DA Davidson boosted their target price on Amkor Technology from $35.00 to $40.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Finally, B. Riley boosted their target price on Amkor Technology from $45.00 to $50.00 and gave the stock a buy rating in a report on Thursday, June 20th. Three 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 presently has an average rating of Moderate Buy and an average target price of $40.43.

Insider Buying and Selling

In related news, EVP Mark N. Rogers sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $31.30, for a total value of $156,500.00. Following the completion of the transaction, the executive vice president now owns 25,280 shares in the company, valued at approximately $791,264. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $33.37, for a total transaction of $834,250.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark N. Rogers sold 5,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $31.30, for a total transaction of $156,500.00. Following the sale, the executive vice president now owns 25,280 shares of the company’s stock, valued at approximately $791,264. The disclosure for this sale can be found here. Insiders sold 75,000 shares of company stock worth $2,708,250 in the last quarter. 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.