Amkor Technology (NASDAQ:AMKR) Issues Q2 2024 Earnings Guidance

Amkor Technology (NASDAQ:AMKR - Get Free Report) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.140-0.300 for the period, compared to the consensus 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.

Amkor Technology Trading Up 2.8 %

Shares of NASDAQ:AMKR traded up $0.85 on Monday, hitting $31.47. 1,454,826 shares of the company's stock were exchanged, compared to its average volume of 924,331. The business's 50 day simple moving average is $31.60 and its two-hundred day simple moving average is $29.73. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.31 and a quick ratio of 2.02. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of 21.55 and a beta of 1.96. Amkor Technology has a 12 month low of $17.58 and a 12 month high of $37.00.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last announced its quarterly earnings data on Monday, February 12th. The semiconductor company reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.07. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.68 billion. Amkor Technology had a net margin of 5.53% and a return on equity of 9.37%. The firm's revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter last year, the business posted $0.67 EPS. Analysts anticipate that Amkor Technology will post 1.63 EPS for the current fiscal year.

Amkor Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Tuesday, March 12th were paid a $0.079 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.32 annualized dividend and a yield of 1.00%. Amkor Technology's dividend payout ratio (DPR) is currently 21.23%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AMKR shares. The Goldman Sachs Group started coverage on Amkor Technology in a research report on Thursday, February 29th. They set a neutral rating and a $32.00 target price for the company. Needham & Company LLC assumed coverage on Amkor Technology in a report on Tuesday, April 9th. They issued a buy rating and a $40.00 price objective for the company. Finally, Fox Advisors initiated coverage on shares of Amkor Technology in a report on Thursday, March 14th. They set an equal weight rating on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Amkor Technology presently has an average rating of Moderate Buy and a consensus price target of $34.33.

Insider Activity

In related news, CFO Megan Faust sold 2,700 shares of the company's stock in a transaction 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 approximately $1,177,525.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $30.34, for a total transaction of $81,918.00. Following the completion of the transaction, the chief financial officer now owns 38,811 shares in the company, valued at approximately $1,177,525.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $31.23, for a total transaction of $780,750.00. Following the completion of 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. In the last three months, insiders have sold 80,500 shares of company stock worth $2,494,720. 31.40% of the stock is currently owned by company insiders.

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.