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 EPS guidance of 0.140-0.300 for the period, compared to the consensus EPS 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

Several equities research analysts have issued reports on AMKR shares. The Goldman Sachs Group lifted their target price on shares of Amkor Technology from $32.00 to $36.00 and gave the company a neutral rating in a research report on Wednesday. Needham & Company LLC reaffirmed a buy rating and set a $40.00 price objective on shares of Amkor Technology in a report on Tuesday. Morgan Stanley upped their target price on shares of Amkor Technology from $32.00 to $34.00 and gave the stock an equal weight rating in a research report on Tuesday. Fox Advisors began coverage on Amkor Technology in a research report on Thursday, March 14th. They set an equal weight rating on the stock. Finally, DA Davidson boosted their price target on shares of Amkor Technology from $35.00 to $40.00 and gave the stock a buy rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $37.67.

Amkor Technology Stock Performance

Shares of AMKR stock opened at $30.33 on Thursday. The company’s fifty day moving average price is $31.65 and its 200-day moving average price is $29.80. The stock has a market cap of $7.46 billion, a PE ratio of 19.95 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 12 month low of $17.58 and a 12 month high of $37.00.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data 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 net margin of 5.84% and a return on equity of 9.63%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the company earned $0.18 earnings per share. The business’s revenue was down 7.2% compared to the same quarter last year. On average, equities analysts expect that Amkor Technology will post 1.63 EPS for the current fiscal year.

Amkor Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were paid a dividend of $0.079 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Monday, March 11th. Amkor Technology’s payout ratio is 20.39%.

Insiders Place Their Bets

In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $31.17, for a total transaction of $779,250.00. Following the completion of the transaction, the chief executive officer now directly owns 114,476 shares in the company, valued at $3,568,216.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $31.17, for a total value of $779,250.00. Following the transaction, the chief executive officer now owns 114,476 shares in the company, valued at $3,568,216.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 of the company’s stock, valued at approximately $1,177,525.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,500 shares of company stock valued at $2,494,720. 31.40% of the stock is currently owned by corporate insiders.

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.