Amkor Technology (NASDAQ:AMKR) Announces Earnings Results, Beats Expectations By $0.13 EPS

Amkor Technology (NASDAQ:AMKR - Get Free Report) issued its quarterly earnings data on Monday. The semiconductor company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.13, Briefing.com reports. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Amkor Technology had a net margin of 5.53% and a return on equity of 9.37%. The firm's quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the business posted $0.18 earnings per share. Amkor Technology updated its Q2 guidance to $0.14-0.30 EPS and its Q2 2024 guidance to 0.140-0.300 EPS.

Amkor Technology Price Performance

Shares of AMKR stock traded up $0.88 during trading hours on Tuesday, hitting $32.35. 2,912,143 shares of the company's stock were exchanged, compared to its average volume of 948,425. The company has a quick ratio of 2.02, a current ratio of 2.31 and a debt-to-equity ratio of 0.27. The firm has a market cap of $7.95 billion, a P/E ratio of 22.16 and a beta of 1.96. The firm has a 50 day moving average of $31.60 and a two-hundred day moving average of $29.73. Amkor Technology has a fifty-two week low of $17.58 and a fifty-two week high of $37.00.

Amkor Technology Announces Dividend

The firm 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 0.98%. The ex-dividend date of this dividend was Monday, March 11th. Amkor Technology's payout ratio is 21.23%.

Insider Transactions at Amkor Technology

In related news, CFO Megan Faust sold 2,700 shares of the business's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $30.34, for a total transaction of $81,918.00. Following the completion of the sale, the chief financial officer now directly owns 38,811 shares in the company, valued at $1,177,525.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Megan Faust sold 2,700 shares of the business's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $30.34, for a total transaction of $81,918.00. Following the completion of the sale, the chief financial officer now directly owns 38,811 shares in the company, valued at $1,177,525.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $31.23, for a total value of $780,750.00. Following the sale, the chief executive officer now owns 124,476 shares of the company's stock, valued at $3,887,385.48. The disclosure for this sale can be found here. Insiders sold a total of 80,500 shares of company stock valued at $2,494,720 in the last three months. 31.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on AMKR. The Goldman Sachs Group started coverage on shares of Amkor Technology in a research note on Thursday, February 29th. They issued a "neutral" rating and a $32.00 price objective on the stock. Morgan Stanley increased their target price on shares of Amkor Technology from $32.00 to $34.00 and gave the company an "equal weight" rating in a report on Tuesday. Fox Advisors assumed coverage on shares of Amkor Technology in a report on Thursday, March 14th. They issued an "equal weight" rating for the company. DA Davidson increased their price target on shares of Amkor Technology from $35.00 to $40.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, B. Riley restated a "buy" rating and issued a $45.00 price objective (up from $43.00) on shares of Amkor Technology in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

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.