Amkor Technology, Inc. (NASDAQ:AMKR) Forecasted to Post Q2 2024 Earnings of $0.22 Per Share

Amkor Technology, Inc. (NASDAQ:AMKRFree Report) – Analysts at B. Riley boosted their Q2 2024 earnings per share (EPS) estimates for shares of Amkor Technology in a research report issued on Monday, April 29th. B. Riley analyst C. Ellis now forecasts that the semiconductor company will post earnings of $0.22 per share for the quarter, up from their previous estimate of $0.09. B. Riley has a “Buy” rating and a $45.00 price objective on the stock. The consensus estimate for Amkor Technology’s current full-year earnings is $1.63 per share. B. Riley also issued estimates for Amkor Technology’s Q3 2025 earnings at $0.97 EPS and FY2025 earnings at $2.56 EPS.

AMKR has been the subject of several other research reports. DA Davidson boosted their price objective on Amkor Technology from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday. Morgan Stanley boosted their price objective on Amkor Technology from $32.00 to $34.00 and gave the company an “equal weight” rating in a report on Tuesday. Fox Advisors assumed coverage on Amkor Technology in a report on Thursday, March 14th. They issued an “equal weight” rating for the company. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price objective on shares of Amkor Technology in a report on Tuesday. Finally, The Goldman Sachs Group boosted their price objective on Amkor Technology from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Amkor Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.67.

Check Out Our Latest Analysis on Amkor Technology

Amkor Technology Stock Performance

Shares of AMKR stock opened at $31.66 on Thursday. The stock has a market cap of $7.78 billion, a PE ratio of 19.95 and a beta of 1.94. The business has a 50-day simple moving average of $31.66 and a 200-day simple moving average of $29.80. The company has a quick ratio of 2.02, a current ratio of 2.34 and a debt-to-equity ratio of 0.26. Amkor Technology has a 52-week low of $17.58 and a 52-week high of $37.00.

Amkor Technology (NASDAQ:AMKRGet Free Report) last posted its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.13. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Amkor Technology had a return on equity of 9.53% and a net margin of 5.84%. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 EPS.

Hedge Funds Weigh In On Amkor Technology

Several hedge funds and other institutional investors have recently made changes to their positions in AMKR. CWM LLC lifted its position in shares of Amkor Technology by 81.1% in the third quarter. CWM LLC now owns 3,661 shares of the semiconductor company’s stock valued at $83,000 after acquiring an additional 1,640 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Amkor Technology in the third quarter valued at approximately $703,000. Exchange Traded Concepts LLC increased its holdings in shares of Amkor Technology by 77.8% in the third quarter. Exchange Traded Concepts LLC now owns 11,176 shares of the semiconductor company’s stock valued at $253,000 after purchasing an additional 4,891 shares during the last quarter. Foster & Motley Inc. increased its holdings in shares of Amkor Technology by 14.5% in the third quarter. Foster & Motley Inc. now owns 31,884 shares of the semiconductor company’s stock valued at $721,000 after purchasing an additional 4,034 shares during the last quarter. Finally, Bailard Inc. increased its holdings in shares of Amkor Technology by 20.0% in the third quarter. Bailard Inc. now owns 12,241 shares of the semiconductor company’s stock valued at $277,000 after purchasing an additional 2,041 shares during the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Insider Buying and Selling

In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $31.17, for a total value of $779,250.00. Following the completion of the transaction, the chief executive officer now owns 114,476 shares of the company’s stock, valued at approximately $3,568,216.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $31.17, for a total value of $779,250.00. Following the transaction, the chief executive officer now owns 114,476 shares in the company, valued at $3,568,216.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Megan Faust sold 2,800 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $31.09, for a total value of $87,052.00. Following the completion of the transaction, the chief financial officer now owns 53,023 shares in the company, valued at approximately $1,648,485.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,500 shares of company stock valued at $2,494,720. 31.40% of the stock is owned by company insiders.

Amkor Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Tuesday, March 12th were issued a $0.079 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.32 dividend on an annualized basis and a yield of 1.00%. Amkor Technology’s payout ratio is 20.39%.

About Amkor Technology

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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.

See Also

Earnings History and Estimates for Amkor Technology (NASDAQ:AMKR)

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