Amkor Technology (NASDAQ:AMKR) Issues Quarterly Earnings Results

Amkor Technology (NASDAQ:AMKR) released its quarterly earnings data on Monday. The semiconductor company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01), Briefing.com reports. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 EPS. Amkor Technology updated its Q4 guidance to $0.28-$0.44 EPS and its Q4 2024 guidance to 0.280-0.440 EPS.

Amkor Technology Price Performance

Shares of NASDAQ AMKR traded down $1.25 during midday trading on Wednesday, hitting $26.73. The stock had a trading volume of 2,501,806 shares, compared to its average volume of 1,331,294. The company has a quick ratio of 1.83, a current ratio of 2.08 and a debt-to-equity ratio of 0.23. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $44.86. The company has a market capitalization of $6.57 billion, a PE ratio of 17.59 and a beta of 1.84. The stock has a 50 day simple moving average of $30.49 and a 200-day simple moving average of $33.22.

Amkor Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.079 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.18%. Amkor Technology’s payout ratio is currently 20.39%.

Insider Activity at Amkor Technology

In other news, Director Winston J. Churchill sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total value of $659,400.00. Following the transaction, the director now directly owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total value of $315,100.00. Following the completion of the sale, the chief executive officer now directly owns 204,971 shares of the company’s stock, valued at $6,458,636.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Winston J. Churchill sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 19,871 shares of the company’s stock, valued at $655,146.87. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 31.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AMKR shares. DA Davidson lowered their price objective on Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday. Morgan Stanley dropped their price target on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Tuesday. KeyCorp decreased their price objective on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. dropped their target price on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, The Goldman Sachs Group reduced their price target on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Amkor Technology currently has an average rating of “Moderate Buy” and a consensus price target of $35.63.

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.