DA Davidson Research Analysts Raise Earnings Estimates for Amkor Technology, Inc. (NASDAQ:AMKR)

Amkor Technology, Inc. (NASDAQ:AMKR - Free Report) - DA Davidson boosted their FY2024 earnings per share (EPS) estimates for Amkor Technology in a research note issued on Tuesday, April 30th. DA Davidson analyst T. Diffely now anticipates that the semiconductor company will earn $1.65 per share for the year, up from their prior forecast of $1.45. DA Davidson has a "Buy" rating and a $40.00 price objective on the stock. The consensus estimate for Amkor Technology's current full-year earnings is $1.63 per share.

Several other equities analysts also recently issued reports on the company. The Goldman Sachs Group upped their target price on Amkor Technology from $32.00 to $36.00 and gave the company a "neutral" rating in a research report on Wednesday. Fox Advisors assumed coverage on Amkor Technology in a research report on Thursday, March 14th. They issued an "equal weight" rating on the stock. Morgan Stanley upped their target price on Amkor Technology from $32.00 to $34.00 and gave the company an "equal weight" rating in a research report on Tuesday. B. Riley reissued a "buy" rating and issued a $45.00 target price (up from $43.00) on shares of Amkor Technology in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $40.00 price target on shares of Amkor Technology in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Amkor Technology presently has a consensus rating of "Moderate Buy" and an average target price of $37.67.

Amkor Technology Stock Up 4.4 %

Shares of AMKR stock traded up $1.33 during trading hours on Thursday, reaching $31.66. 1,357,551 shares of the company's stock were exchanged, compared to its average volume of 967,472. The company has a current ratio of 2.34, a quick ratio of 2.02 and a debt-to-equity ratio of 0.26. The stock's 50 day moving average is $31.66 and its 200-day moving average is $29.80. Amkor Technology has a fifty-two week low of $17.58 and a fifty-two week high of $37.00. The company has a market cap of $7.78 billion, a price-to-earnings ratio of 19.95 and a beta of 1.94.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last issued its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.13. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Amkor Technology had a return on equity of 9.53% and a net margin of 5.84%. The business's quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 earnings per share.

Institutional Investors Weigh In On Amkor Technology

A number of institutional investors have recently modified their holdings of the business. Handelsbanken Fonder AB boosted its holdings in Amkor Technology by 9.2% in the 4th quarter. Handelsbanken Fonder AB now owns 18,976 shares of the semiconductor company's stock worth $631,000 after buying an additional 1,600 shares during the last quarter. Readystate Asset Management LP acquired a new stake in Amkor Technology in the 4th quarter worth about $4,694,000. Trexquant Investment LP acquired a new stake in Amkor Technology in the 3rd quarter worth about $1,142,000. Invesco Ltd. boosted its holdings in Amkor Technology by 12.3% in the 3rd quarter. Invesco Ltd. now owns 1,318,158 shares of the semiconductor company's stock worth $29,790,000 after buying an additional 144,280 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Amkor Technology in the 3rd quarter worth about $4,280,000. 42.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Amkor Technology

In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm's stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $31.17, for a total transaction of $779,250.00. Following the sale, the chief executive officer now directly owns 114,476 shares in the company, valued at approximately $3,568,216.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Megan Faust sold 2,800 shares of the firm's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $31.09, for a total transaction of $87,052.00. Following the sale, the chief financial officer now directly owns 53,023 shares in the company, valued at approximately $1,648,485.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm's stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $31.17, for a total value of $779,250.00. Following the sale, the chief executive officer now owns 114,476 shares in the company, valued at $3,568,216.92. The disclosure for this sale can be found here. Insiders have sold a total of 80,500 shares of company stock valued at $2,494,720 in the last ninety days. 31.40% of the stock is currently owned by corporate insiders.

Amkor Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were paid a dividend of $0.079 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Monday, March 11th. Amkor Technology's payout ratio is currently 20.39%.

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.