Amkor Technology (NASDAQ:AMKR) Issues Q2 2024 Earnings Guidance

Amkor Technology (NASDAQ:AMKR) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.140-0.300 for the period, compared to the consensus estimate of 0.160. The company issued revenue guidance of $1.4 billion-$1.5 billion, compared to the consensus revenue estimate of $1.4 billion. Amkor Technology also updated its Q2 guidance to $0.14-0.30 EPS.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AMKR. Fox Advisors initiated coverage on Amkor Technology in a research report on Thursday, March 14th. They issued an equal weight rating for the company. Needham & Company LLC started coverage on Amkor Technology in a report on Tuesday, April 9th. They set a buy rating and a $40.00 price objective for the company. Finally, The Goldman Sachs Group began coverage on Amkor Technology in a report on Thursday, February 29th. They issued a neutral rating and a $32.00 target price on the stock. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $34.33.

Amkor Technology Stock Up 2.8 %

Amkor Technology stock traded up $0.85 during trading on Monday, hitting $31.47. 1,454,826 shares of the company were exchanged, compared to its average volume of 924,331. The company has a current ratio of 2.31, a quick ratio of 2.02 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $31.60 and its 200 day moving average is $29.73. Amkor Technology has a 52 week low of $17.58 and a 52 week high of $37.00. The company has a market capitalization of $7.74 billion, a P/E ratio of 21.55 and a beta of 1.96.

Amkor Technology (NASDAQ:AMKR) last announced its earnings results on Monday, February 12th. The semiconductor company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.41 by $0.07. Amkor Technology had a net margin of 5.53% and a return on equity of 9.37%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company posted $0.67 earnings per share. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. Analysts predict that Amkor Technology will post 1.63 earnings per share for the current year.

Amkor Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were given a dividend of $0.079 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.32 annualized dividend and a dividend yield of 1.00%. Amkor Technology’s dividend payout ratio is currently 21.23%.

Insider Transactions at Amkor Technology

In related news, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction on Friday, February 16th. The stock was 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 $1,177,525.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $30.34, for a total transaction of $81,918.00. Following the completion of the sale, the chief financial officer now directly owns 38,811 shares of the company’s stock, valued at approximately $1,177,525.74. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction on Friday, March 15th. The stock was sold at an average price of $31.23, for a total value 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. Insiders have sold 80,500 shares of company stock worth $2,494,720 in the last 90 days. Insiders own 31.40% of the company’s stock.

About Amkor Technology

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.