Amkor Technology (NASDAQ:AMKR) Issues Earnings Results, Beats Estimates By $0.06 EPS

Key Points

• Amkor Technology reported earnings of $0.22 per share, surpassing analyst expectations by $0.06.
• The company declared a quarterly dividend of $0.0827 per share, which indicates an annualized yield of 1.56%.
• Analysts have a consensus rating of "Hold" on AMKR shares, with an average price target of $26.50.

Amkor Technology (NASDAQ:AMKR - Get Free Report) issued its quarterly earnings data on Monday. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.06, Zacks reports. Amkor Technology had a net margin of 5.04% and a return on equity of 7.60%.

Amkor Technology Stock Performance

Shares of NASDAQ:AMKR traded up $0.07 during midday trading on Monday, reaching $21.23. The company had a trading volume of 4,018,159 shares, compared to its average volume of 2,078,215. The company's 50 day moving average price is $20.41 and its 200 day moving average price is $20.38. The company has a current ratio of 2.06, a quick ratio of 1.83 and a debt-to-equity ratio of 0.22. The stock has a market cap of $5.25 billion, a P/E ratio of 16.59 and a beta of 1.85. Amkor Technology has a 52-week low of $14.03 and a 52-week high of $39.48.

Amkor Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Thursday, June 5th were issued a $0.0827 dividend. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Thursday, June 5th. Amkor Technology's dividend payout ratio (DPR) is currently 25.78%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AMKR shares. Morgan Stanley lowered their price target on shares of Amkor Technology from $24.00 to $19.00 and set an "equal weight" rating for the company in a report on Tuesday, April 29th. Needham & Company LLC lowered their price target on shares of Amkor Technology from $34.00 to $22.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. The Goldman Sachs Group started coverage on shares of Amkor Technology in a research note on Thursday, July 10th. They issued a "neutral" rating and a $20.00 price objective for the company. DA Davidson lowered their price objective on shares of Amkor Technology from $36.00 to $30.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Finally, B. Riley downgraded shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 21st. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $26.50.

Institutional Investors Weigh In On Amkor Technology

Several institutional investors have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Amkor Technology by 9.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 334,547 shares of the semiconductor company's stock valued at $6,042,000 after purchasing an additional 27,511 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Amkor Technology during the first quarter valued at about $271,000. Goldman Sachs Group Inc. increased its position in shares of Amkor Technology by 73.4% during the first quarter. Goldman Sachs Group Inc. now owns 524,713 shares of the semiconductor company's stock valued at $9,476,000 after buying an additional 222,107 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Amkor Technology by 913.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,509 shares of the semiconductor company's stock valued at $136,000 after buying an additional 6,768 shares during the period. Finally, Advisors Asset Management Inc. increased its position in shares of Amkor Technology by 61.8% during the first quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company's stock valued at $40,000 after buying an additional 854 shares during the period. 42.76% of the stock is owned by hedge funds and other institutional investors.

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.

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