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

Amkor Technology (NASDAQ:AMKR - Get Free Report) issued its earnings results on Monday. The semiconductor company reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.01), Briefing.com reports. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the firm earned $0.54 earnings per share. The business's quarterly revenue was up 2.2% on a year-over-year basis. 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 Stock Performance

Shares of NASDAQ:AMKR traded down $1.55 during trading on Tuesday, hitting $27.98. 5,919,123 shares of the company were exchanged, compared to its average volume of 1,325,689. The company has a market cap of $6.88 billion, a PE ratio of 18.41 and a beta of 1.84. The stock has a 50 day moving average of $30.62 and a 200 day moving average of $33.26. Amkor Technology has a 52-week low of $17.58 and a 52-week high of $44.86. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.079 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.32 annualized dividend and a dividend yield of 1.13%. Amkor Technology's dividend payout ratio is currently 20.39%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. KeyCorp decreased their price objective on Amkor Technology from $38.00 to $34.00 and set an "overweight" rating for the company in a report on Tuesday. Needham & Company LLC decreased their price objective on Amkor Technology from $45.00 to $34.00 and set a "buy" rating for the company in a report on Tuesday. The Goldman Sachs Group decreased 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. StockNews.com raised Amkor Technology from a "hold" rating to a "buy" rating in a report on Tuesday, October 15th. Finally, DA Davidson reduced their target price on Amkor Technology from $40.00 to $36.00 and set a "buy" rating for the company in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Amkor Technology currently has an average rating of "Moderate Buy" and a consensus price target of $35.63.

Insider Buying and Selling

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 value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm's stock in a transaction dated 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 directly owns 204,971 shares of the company's stock, valued at approximately $6,458,636.21. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Winston J. Churchill sold 20,000 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $655,146.87. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 31.40% of the stock is currently owned by company insiders.

Amkor Technology Company Profile

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.