Amkor Technology (NASDAQ:AMKR) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Key Points

• Amkor reported quarterly adjusted EPS of $0.33, beating the consensus of $0.23 by $0.10, and revenue of $1.68 billion versus estimates of $1.63 billion.
• Despite the beat, shares fell about 3.2% to $75.62; the stock trades at a PE of 50.08 and well above the average analyst price target of $51.13 while the consensus rating remains "Hold."
• Amkor paid a quarterly dividend of $0.0835 (annualized $0.33, yield 0.4%), and insiders have sold a total of 42,500 shares in the past 90 days (insiders own 26.4% of shares).

Amkor Technology (NASDAQ:AMKR - Get Free Report) posted its earnings results on Monday. The semiconductor company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.23 by $0.10, FiscalAI reports. Amkor Technology had a return on equity of 8.66% and a net margin of 5.57%.The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.63 billion.

Amkor Technology Trading Down 3.2%

Shares of AMKR stock traded down $2.48 on Monday, reaching $75.62. 6,151,978 shares of the stock were exchanged, compared to its average volume of 4,331,169. The stock has a market cap of $18.74 billion, a PE ratio of 50.08 and a beta of 1.94. Amkor Technology has a one year low of $16.54 and a one year high of $79.23. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.27 and a quick ratio of 2.01. The stock has a 50 day moving average price of $50.97 and a 200 day moving average price of $44.41.

Amkor Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 12th were given a dividend of $0.0835 per share. The ex-dividend date was Thursday, March 12th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.4%. Amkor Technology's payout ratio is presently 21.85%.

Wall Street Analyst Weigh In

AMKR has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price target on Amkor Technology from $38.00 to $43.00 and gave the company a "neutral" rating in a report on Tuesday, February 10th. B. Riley Financial reaffirmed a "neutral" rating on shares of Amkor Technology in a report on Monday, April 20th. William Blair raised Amkor Technology to a "neutral" rating in a report on Monday, January 12th. Wall Street Zen cut Amkor Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 21st. Finally, JPMorgan Chase & Co. raised their price target on Amkor Technology from $32.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, February 10th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $51.13.

Insider Transactions at Amkor Technology

In other news, EVP Mark N. Rogers sold 5,000 shares of the business's stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $59.43, for a total transaction of $297,150.00. Following the completion of the sale, the executive vice president owned 38,904 shares in the company, valued at $2,312,064.72. The trade was a 11.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Guillaume Marie Jean Rutten sold 20,000 shares of the business's stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $48.80, for a total value of $976,000.00. Following the sale, the director owned 543,866 shares of the company's stock, valued at approximately $26,540,660.80. The trade was a 3.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 42,500 shares of company stock worth $2,105,225 over the last 90 days. 26.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Amkor Technology

Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada grew its stake in shares of Amkor Technology by 100.6% during the first quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company's stock worth $349,000 after purchasing an additional 3,454,012 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Amkor Technology by 305.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,574,607 shares of the semiconductor company's stock worth $44,719,000 after purchasing an additional 1,186,313 shares during the period. AQR Capital Management LLC grew its stake in shares of Amkor Technology by 38.3% during the second quarter. AQR Capital Management LLC now owns 3,558,040 shares of the semiconductor company's stock worth $74,541,000 after purchasing an additional 985,727 shares during the period. First Trust Advisors LP grew its stake in shares of Amkor Technology by 37.4% during the fourth quarter. First Trust Advisors LP now owns 2,722,310 shares of the semiconductor company's stock worth $107,477,000 after purchasing an additional 740,701 shares during the period. Finally, Invesco Ltd. grew its stake in Amkor Technology by 133.7% in the third quarter. Invesco Ltd. now owns 1,229,931 shares of the semiconductor company's stock valued at $34,930,000 after acquiring an additional 703,617 shares during the period. Institutional investors own 42.76% of the company's stock.

Amkor Technology Company Profile

Amkor Technology, Inc NASDAQ: AMKR is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.

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