Amkor Technology, Inc. Expected to Post Q1 2024 Earnings of $0.08 Per Share (NASDAQ:AMKR)

Amkor Technology, Inc. (NASDAQ:AMKRFree Report) – Research analysts at DA Davidson issued their Q1 2024 earnings estimates for shares of Amkor Technology in a research report issued on Tuesday, February 6th. DA Davidson analyst T. Diffely anticipates that the semiconductor company will earn $0.08 per share for the quarter. The consensus estimate for Amkor Technology’s current full-year earnings is $1.94 per share. DA Davidson also issued estimates for Amkor Technology’s FY2025 earnings at $2.25 EPS.

Several other equities research analysts have also commented on the stock. Morgan Stanley started coverage on shares of Amkor Technology in a research report on Thursday, November 9th. They set an “equal weight” rating and a $27.00 price target for the company. UBS Group assumed coverage on shares of Amkor Technology in a report on Thursday, November 16th. They issued a “buy” rating and a $31.00 target price for the company. B. Riley increased their target price on shares of Amkor Technology from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, December 12th. Finally, StockNews.com raised shares of Amkor Technology from a “hold” rating to a “buy” rating in a report on Monday, December 4th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $33.50.

View Our Latest Research Report on Amkor Technology

Amkor Technology Price Performance

NASDAQ AMKR opened at $29.58 on Wednesday. Amkor Technology has a 52 week low of $17.58 and a 52 week high of $34.44. The firm has a market capitalization of $7.27 billion, a P/E ratio of 20.26 and a beta of 2.00. The company has a quick ratio of 1.65, a current ratio of 1.95 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $31.58 and a 200-day moving average price of $27.20.

Amkor Technology (NASDAQ:AMKRGet Free Report) last released its quarterly earnings results on Monday, February 5th. The semiconductor company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.41 by $0.07. Amkor Technology had a net margin of 5.53% and a return on equity of 9.50%. 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 firm earned $0.67 EPS. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. lifted its position in Amkor Technology by 1,757.9% in the second quarter. Alliancebernstein L.P. now owns 4,182,333 shares of the semiconductor company’s stock worth $124,424,000 after buying an additional 3,957,221 shares during the last quarter. First Trust Advisors LP lifted its position in Amkor Technology by 192.4% in the first quarter. First Trust Advisors LP now owns 2,129,215 shares of the semiconductor company’s stock worth $55,402,000 after buying an additional 1,401,109 shares during the last quarter. Vanguard Group Inc. lifted its position in Amkor Technology by 10.4% in the third quarter. Vanguard Group Inc. now owns 13,797,154 shares of the semiconductor company’s stock worth $311,816,000 after buying an additional 1,300,745 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Amkor Technology by 309.1% during the third quarter. Ameriprise Financial Inc. now owns 1,478,046 shares of the semiconductor company’s stock worth $33,404,000 after purchasing an additional 1,116,729 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Amkor Technology by 244.0% during the second quarter. Goldman Sachs Group Inc. now owns 1,312,502 shares of the semiconductor company’s stock worth $39,047,000 after purchasing an additional 930,992 shares during the last quarter. 38.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Amkor Technology news, CFO Megan Faust sold 2,700 shares of the stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $32.00, for a total transaction of $86,400.00. Following the completion of the sale, the chief financial officer now directly owns 35,394 shares of the company’s stock, valued at approximately $1,132,608. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Roger Anthony Carolin sold 20,000 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $28.31, for a total transaction of $566,200.00. Following the completion of the transaction, the director now directly owns 48,392 shares in the company, valued at approximately $1,369,977.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Megan Faust sold 2,700 shares of the stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $32.00, for a total value of $86,400.00. Following the transaction, the chief financial officer now owns 35,394 shares of the company’s stock, valued at $1,132,608. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,400 shares of company stock valued at $723,313. 53.30% of the stock is owned by corporate insiders.

Amkor Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 26th. Investors of record on Tuesday, December 5th were issued a $0.079 dividend. This represents a $0.32 annualized dividend and a yield of 1.07%. This is a positive change 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 is currently 21.23%.

About Amkor Technology

(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 and Estimates for Amkor Technology (NASDAQ:AMKR)

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