Amkor Technology (NASDAQ:AMKR) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Amkor Technology (NASDAQ:AMKR) posted its quarterly earnings results on Monday. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01), Briefing.com reports. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion. Amkor Technology had a return on equity of 9.41% and a net margin of 5.87%. Amkor Technology’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. Amkor Technology updated its Q4 guidance to $0.28-$0.44 EPS and its Q4 2024 guidance to 0.280-0.440 EPS.

Amkor Technology Trading Down 4.5 %

Shares of Amkor Technology stock opened at $26.73 on Thursday. The company has a market capitalization of $6.57 billion, a price-to-earnings ratio of 17.59 and a beta of 1.84. The business has a fifty day simple moving average of $30.49 and a two-hundred day simple moving average of $33.22. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.08 and a quick ratio of 1.83. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $44.86.

Amkor Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Tuesday, September 3rd were paid a $0.079 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.32 annualized dividend and a dividend yield of 1.18%. Amkor Technology’s dividend payout ratio is presently 20.39%.

Insiders Place Their Bets

In other news, Director Winston J. Churchill sold 20,000 shares of Amkor Technology stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the transaction, the director now owns 19,871 shares in the company, valued at approximately $655,146.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company’s 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 transaction, the chief executive officer now owns 204,971 shares of the company’s stock, valued at $6,458,636.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the completion of the transaction, the director now owns 19,871 shares of the company’s stock, valued at $655,146.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AMKR shares. The Goldman Sachs Group cut their price target on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday. DA Davidson dropped their price target on Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday. StockNews.com downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday. KeyCorp decreased their price target on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Morgan Stanley decreased their target price on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Amkor Technology has a consensus rating of “Moderate Buy” and an average target price of $35.63.

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.