Amkor Technology (NASDAQ:AMKR) Releases Q2 Earnings Guidance

Amkor Technology (NASDAQ:AMKR) issued an update on its second quarter earnings guidance on Monday morning. The company provided EPS guidance of $0.14-0.30 for the period, compared to the consensus EPS estimate of $0.16. The company issued revenue guidance of $1.40-1.50 billion, compared to the consensus revenue estimate of $1.39 billion. Amkor Technology also updated its Q2 2024 guidance to 0.140-0.300 EPS.

Amkor Technology Stock Up 2.8 %

NASDAQ AMKR traded up $0.85 on Monday, hitting $31.47. 1,454,826 shares of the stock traded hands, compared to its average volume of 924,331. The stock has a 50-day moving average of $31.60 and a 200 day moving average of $29.73. Amkor Technology has a twelve month low of $17.58 and a twelve month high of $37.00. The company has a market capitalization of $7.74 billion, a P/E ratio of 21.55 and a beta of 1.96. The company has a current ratio of 2.31, a quick ratio of 2.02 and a debt-to-equity ratio of 0.27.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data on Monday, February 12th. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.07. Amkor Technology had a return on equity of 9.37% and a net margin of 5.53%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Amkor Technology’s revenue for the quarter was down 8.1% compared to the same quarter last year. As a group, analysts expect that Amkor Technology will post 1.63 earnings per share for the current fiscal year.

Amkor Technology Announces Dividend

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

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CFO Megan Faust sold 2,700 shares of the 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 owns 38,811 shares in the company, valued at approximately $1,177,525.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Megan Faust sold 2,700 shares of the 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 owns 38,811 shares in the company, valued at approximately $1,177,525.74. The sale 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 stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $31.17, for a total value of $779,250.00. Following the completion of the sale, the chief executive officer now owns 114,476 shares of the company’s stock, valued at approximately $3,568,216.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,500 shares of company stock worth $2,494,720. Insiders own 31.40% of the company’s stock.

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.