Amkor Technology (NASDAQ:AMKR) Issues Q2 2024 Earnings Guidance

Amkor Technology (NASDAQ:AMKR) updated its second quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 0.140-0.300 for the period, compared to the consensus EPS estimate of 0.160. The company issued revenue guidance of $1.4 billion-$1.5 billion, compared to the consensus revenue estimate of $1.4 billion. Amkor Technology also updated its Q2 guidance to $0.14-0.30 EPS.

Amkor Technology Trading Up 2.8 %

NASDAQ:AMKR traded up $0.85 during trading hours on Monday, reaching $31.47. The company’s stock had a trading volume of 1,446,498 shares, compared to its average volume of 924,251. The firm has a market capitalization of $7.74 billion, a price-to-earnings ratio of 20.97 and a beta of 1.96. The firm has a 50-day simple moving average of $31.57 and a 200-day simple moving average of $29.68. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $37.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.02 and a current ratio of 2.31.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, February 12th. The semiconductor company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. Amkor Technology had a net margin of 5.53% and a return on equity of 9.37%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the company earned $0.67 EPS. The firm’s revenue was down 8.1% compared to the same quarter last year. Research analysts expect that Amkor Technology will post 1.63 EPS 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 paid a dividend of $0.079 per share. This represents a $0.32 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Monday, March 11th. Amkor Technology’s payout ratio is currently 21.23%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMKR. The Goldman Sachs Group began coverage on shares of Amkor Technology in a research note on Thursday, February 29th. They set a neutral rating and a $32.00 price objective on the stock. Needham & Company LLC started coverage on shares of Amkor Technology in a report on Tuesday, April 9th. They set a buy rating and a $40.00 price objective for the company. Finally, Fox Advisors started coverage on shares of Amkor Technology in a report on Thursday, March 14th. They set an equal weight rating for the company. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Amkor Technology currently has a consensus rating of Moderate Buy and a consensus target price of $34.33.

Insider Buying and Selling at Amkor Technology

In other news, CFO Megan Faust sold 2,700 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $30.34, for a total value of $81,918.00. Following the sale, the chief financial officer now owns 38,811 shares of the company’s stock, valued at $1,177,525.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Megan Faust sold 2,700 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $30.34, for a total value of $81,918.00. Following the sale, the chief financial officer now owns 38,811 shares of the company’s stock, valued at $1,177,525.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $30.63, for a total transaction of $765,750.00. Following the completion of the transaction, the chief executive officer now directly owns 123,728 shares in the company, valued at approximately $3,789,788.64. The disclosure for this sale can be found here. Insiders sold 80,500 shares of company stock worth $2,494,720 over the last 90 days. 31.40% of the stock is owned by insiders.

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.