Amkor Technology (NASDAQ:AMKR) Releases Earnings Results, Beats Estimates By $0.07 EPS

Amkor Technology (NASDAQ:AMKRGet Free Report) announced its earnings results on Monday. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.07, MarketWatch Earnings reports. Amkor Technology had a return on equity of 10.79% and a net margin of 6.11%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the company earned $0.67 EPS. The business’s revenue was down 8.1% compared to the same quarter last year. Amkor Technology updated its Q1 guidance to $0.03-0.19 EPS and its Q1 2024 guidance to 0.030-0.190 EPS.

Amkor Technology Stock Up 1.1 %

AMKR traded up $0.35 during trading on Monday, hitting $32.31. 1,475,974 shares of the company’s stock traded hands, compared to its average volume of 843,180. The company’s 50 day simple moving average is $31.50 and its two-hundred day simple moving average is $27.17. The company has a current ratio of 1.95, a quick ratio of 1.65 and a debt-to-equity ratio of 0.24. Amkor Technology has a 12-month low of $17.58 and a 12-month high of $34.44. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of 19.58 and a beta of 2.00.

Amkor Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 26th. Shareholders of record on Tuesday, December 5th were paid a dividend of $0.079 per share. This represents a $0.32 annualized dividend and a yield of 0.98%. This is an increase from Amkor Technology’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Monday, December 4th. Amkor Technology’s dividend payout ratio (DPR) is currently 18.79%.

Analyst Ratings Changes

A number of research analysts recently weighed in on AMKR shares. UBS Group started coverage on Amkor Technology in a research report on Thursday, November 16th. They set a “buy” rating and a $31.00 price objective for the company. Morgan Stanley started coverage on Amkor Technology in a research report on Thursday, November 9th. They set an “equal weight” rating and a $27.00 price objective for the company. StockNews.com raised Amkor Technology from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. Finally, B. Riley increased their target price on Amkor Technology from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Amkor Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.50.

Read Our Latest Stock Report on Amkor Technology

Insider Transactions at Amkor Technology

In other news, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $32.00, for a total value of $86,400.00. Following the transaction, the chief financial officer now directly owns 35,394 shares in the company, valued at approximately $1,132,608. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $32.00, for a total value of $86,400.00. Following the transaction, the chief financial officer now directly owns 35,394 shares in the company, valued at approximately $1,132,608. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Roger Anthony Carolin sold 20,000 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $28.31, for a total value of $566,200.00. Following the completion of the transaction, the director now owns 48,392 shares in the company, valued at $1,369,977.52. The disclosure for this sale can be found here. Insiders have sold a total of 25,400 shares of company stock worth $723,313 in the last ninety days. Insiders own 53.30% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV increased its holdings in shares of Amkor Technology by 3.2% in the third quarter. Mercer Global Advisors Inc. ADV now owns 15,359 shares of the semiconductor company’s stock worth $347,000 after purchasing an additional 475 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Amkor Technology by 11.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,808 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 506 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Amkor Technology by 1.7% in the first quarter. LPL Financial LLC now owns 33,399 shares of the semiconductor company’s stock worth $869,000 after purchasing an additional 544 shares during the last quarter. United Capital Financial Advisers LLC increased its holdings in shares of Amkor Technology by 2.9% in the second quarter. United Capital Financial Advisers LLC now owns 20,683 shares of the semiconductor company’s stock worth $615,000 after purchasing an additional 592 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Amkor Technology by 0.3% in the fourth quarter. Alliancebernstein L.P. now owns 242,632 shares of the semiconductor company’s stock worth $5,818,000 after purchasing an additional 633 shares during the last quarter. 38.69% of the stock is currently owned by hedge funds and other institutional investors.

Amkor Technology Company Profile

(Get Free Report)

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and 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.

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Earnings History for Amkor Technology (NASDAQ:AMKR)

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