Amkor Technology (NASDAQ:AMKR) Updates Q4 Earnings Guidance

Amkor Technology (NASDAQ:AMKR) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.28-$0.44 for the period, compared to the consensus earnings per share estimate of $0.55. The company issued revenue guidance of $1.6-$1.7 billion, compared to the consensus revenue estimate of $1.84 billion. Amkor Technology also updated its Q4 2024 guidance to 0.280-0.440 EPS.

Amkor Technology Stock Performance

Amkor Technology stock traded down $0.35 during mid-day trading on Wednesday, reaching $27.63. 710,502 shares of the company were exchanged, compared to its average volume of 1,322,767. The firm’s 50-day simple moving average is $30.62 and its two-hundred day simple moving average is $33.26. Amkor Technology has a twelve month low of $17.58 and a twelve month high of $44.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.83 and a current ratio of 2.08. The firm has a market cap of $6.79 billion, a PE ratio of 18.41 and a beta of 1.84.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.01). The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. Amkor Technology had a return on equity of 9.41% and a net margin of 5.87%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 EPS. Equities analysts predict that Amkor Technology will post 1.55 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Tuesday, September 3rd were issued a $0.079 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Tuesday, September 3rd. Amkor Technology’s dividend payout ratio (DPR) is currently 20.39%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Needham & Company LLC reduced their price objective on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday. StockNews.com downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday. KeyCorp lowered their price target on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday. The Goldman Sachs Group reduced their price objective on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, JPMorgan Chase & Co. dropped their price target on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.63.

Insider Transactions at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total transaction of $315,100.00. Following the sale, the chief executive officer now owns 204,971 shares of the company’s stock, valued at $6,458,636.21. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total value of $315,100.00. Following the completion of the transaction, the chief executive officer now owns 204,971 shares of the company’s stock, valued at $6,458,636.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Winston J. Churchill sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total transaction of $659,400.00. Following the sale, the director now owns 19,871 shares in the company, valued at approximately $655,146.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.