Amkor Technology (NASDAQ:AMKR) Releases Q3 2024 Earnings Guidance

Amkor Technology (NASDAQ:AMKR) updated its third quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 0.420-0.560 for the period, compared to the consensus EPS estimate of 0.670. The company issued revenue guidance of $1.8 billion-$1.9 billion, compared to the consensus revenue estimate of $1.9 billion. Amkor Technology also updated its Q3 guidance to $0.42-0.56 EPS.

Amkor Technology Stock Performance

Shares of NASDAQ AMKR traded down $6.38 during midday trading on Tuesday, reaching $31.22. 2,111,253 shares of the company were exchanged, compared to its average volume of 1,196,457. The stock has a market cap of $7.67 billion, a P/E ratio of 22.23 and a beta of 1.86. The company has a current ratio of 2.34, a quick ratio of 2.08 and a debt-to-equity ratio of 0.26. The stock has a fifty day simple moving average of $37.57 and a 200 day simple moving average of $33.78. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, July 29th. The semiconductor company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. Amkor Technology had a net margin of 5.84% and a return on equity of 9.53%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the business earned $0.26 EPS. The business’s revenue was up .2% on a year-over-year basis. On average, research analysts forecast that Amkor Technology will post 1.76 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, June 24th. Shareholders of record on Tuesday, June 4th were given a $0.079 dividend. This represents a $0.32 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Tuesday, June 4th. Amkor Technology’s payout ratio is 20.39%.

Analyst Ratings Changes

AMKR has been the topic of a number of recent analyst reports. DA Davidson upped their price target on shares of Amkor Technology from $35.00 to $40.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. Morgan Stanley upped their target price on shares of Amkor Technology from $34.00 to $38.00 and gave the stock an equal weight rating in a research report on Tuesday, July 2nd. B. Riley lifted their price target on shares of Amkor Technology from $45.00 to $50.00 and gave the company a buy rating in a research report on Thursday, June 20th. JPMorgan Chase & Co. started coverage on Amkor Technology in a report on Monday, July 1st. They issued an overweight rating and a $48.00 price target on the stock. Finally, The Goldman Sachs Group lifted their price objective on Amkor Technology from $32.00 to $36.00 and gave the stock a neutral rating in a report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and six 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 target price of $41.14.

Insider Activity

In related news, EVP Mark N. Rogers sold 5,000 shares of Amkor Technology stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $31.30, for a total transaction of $156,500.00. Following the completion of the transaction, the executive vice president now directly owns 25,280 shares in the company, valued at approximately $791,264. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Amkor Technology news, EVP Mark N. Rogers sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $31.30, for a total transaction of $156,500.00. Following the completion of the transaction, the executive vice president now owns 25,280 shares of the company’s stock, valued at $791,264. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gil C. Tily sold 20,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $32.20, for a total value of $644,000.00. Following the completion of the sale, the director now owns 129,218 shares in the company, valued at $4,160,819.60. The disclosure for this sale can be found here. Insiders have sold 75,000 shares of company stock worth $2,708,250 over the last ninety days. 31.40% of the stock is currently owned by 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.