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

Amkor Technology (NASDAQ:AMKR) issued an update on its third quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.420-0.560 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AMKR shares. B. Riley raised their target price on shares of Amkor Technology from $45.00 to $50.00 and gave the stock a buy rating in a report on Thursday, June 20th. JPMorgan Chase & Co. initiated coverage on Amkor Technology in a research note on Monday, July 1st. They set an overweight rating and a $48.00 price target for the company. DA Davidson increased their price objective 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. The Goldman Sachs Group boosted their target price on shares of Amkor Technology from $32.00 to $36.00 and gave the company a neutral rating in a research report on Wednesday, May 1st. Finally, Needham & Company LLC lifted their price target on shares of Amkor Technology from $40.00 to $45.00 and gave the stock a buy rating in a research note on Tuesday. Three equities 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.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $41.14.

Amkor Technology Price Performance

AMKR stock traded down $6.38 during midday trading on Tuesday, hitting $31.22. The company’s stock had a trading volume of 2,111,253 shares, compared to its average volume of 1,196,457. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 22.23 and a beta of 1.86. The company has a quick ratio of 2.08, a current ratio of 2.34 and a debt-to-equity ratio of 0.26. Amkor Technology has a 12 month low of $17.58 and a 12 month high of $44.86. The company has a 50 day moving average of $37.57 and a two-hundred day moving average of $33.78.

Amkor Technology (NASDAQ:AMKR) last posted its earnings results on Monday, July 29th. The semiconductor company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.04. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Amkor Technology had a net margin of 5.84% and a return on equity of 9.53%. Amkor Technology’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the company posted $0.26 earnings per share. On average, analysts expect that Amkor Technology will post 1.76 EPS for the current year.

Amkor Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Tuesday, June 4th were paid a dividend of $0.079 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Tuesday, June 4th. Amkor Technology’s payout ratio is presently 20.39%.

Insider Transactions at Amkor Technology

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