Amkor Technology, Inc. (NASDAQ:AMKR) to Issue $0.08 Quarterly Dividend

Amkor Technology, Inc. (NASDAQ:AMKR) announced a quarterly dividend on Tuesday, August 13th, Zacks reports. Shareholders of record on Tuesday, September 3rd will be given a dividend of 0.079 per share by the semiconductor company on Monday, September 23rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Tuesday, September 3rd.

Amkor Technology has raised its dividend payment by an average of 96.6% annually over the last three years. Amkor Technology has a payout ratio of 13.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Amkor Technology to earn $2.29 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 14.0%.

Amkor Technology Stock Performance

NASDAQ:AMKR opened at $32.90 on Monday. 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 fifty-two week low of $17.58 and a fifty-two week high of $44.86. The company has a 50 day simple moving average of $36.19 and a two-hundred day simple moving average of $33.77. The company has a market capitalization of $8.09 billion, a PE ratio of 21.64 and a beta of 1.86.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, July 29th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the business earned $0.26 earnings per share. Amkor Technology’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts anticipate that Amkor Technology will post 1.53 earnings per share for the current year.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $42.94, for a total value of $1,073,500.00. Following the completion of the sale, the chief executive officer now owns 128,333 shares in the company, valued at approximately $5,510,619.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Winston J. Churchill sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the completion of the transaction, the director now directly owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $42.94, for a total transaction of $1,073,500.00. Following the sale, the chief executive officer now owns 128,333 shares of the company’s stock, valued at approximately $5,510,619.02. The disclosure for this sale can be found here. Company insiders own 31.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AMKR shares. Needham & Company LLC increased their price target on Amkor Technology from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Morgan Stanley boosted their target price on Amkor Technology from $34.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. started 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. Finally, B. Riley upped their price objective on shares of Amkor Technology from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Amkor Technology presently has a consensus rating of “Moderate Buy” and an average price target of $41.14.

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.