DA Davidson Comments on Amkor Technology, Inc.’s FY2024 Earnings (NASDAQ:AMKR)

Amkor Technology, Inc. (NASDAQ:AMKR) – Investment analysts at DA Davidson upped their FY2024 earnings estimates for Amkor Technology in a report released on Tuesday, April 30th. DA Davidson analyst T. Diffely now forecasts that the semiconductor company will post earnings of $1.65 per share for the year, up from their prior forecast of $1.45. DA Davidson currently has a “Buy” rating and a $40.00 target price on the stock. The consensus estimate for Amkor Technology’s current full-year earnings is $1.78 per share.

A number of other research firms have also recently commented on AMKR. Morgan Stanley boosted their target price on shares of Amkor Technology from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of Amkor Technology in a research report on Tuesday. The Goldman Sachs Group lifted their price target on shares of Amkor Technology from $32.00 to $36.00 and gave the stock a “neutral” rating in a research note on Wednesday. B. Riley restated a “buy” rating and issued a $45.00 price target (up previously from $43.00) on shares of Amkor Technology in a research note on Tuesday. Finally, Fox Advisors started coverage on shares of Amkor Technology in a research note on Thursday, March 14th. They issued an “equal weight” rating for the company. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Amkor Technology has a consensus rating of “Moderate Buy” and an average target price of $37.67.

Amkor Technology Price Performance

Amkor Technology stock opened at $32.34 on Thursday. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $37.00. The firm has a 50 day moving average price of $31.67 and a 200 day moving average price of $29.82. The company has a market cap of $7.95 billion, a price-to-earnings ratio of 21.28 and a beta of 1.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.02 and a current ratio of 2.34.

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

Amkor Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were paid a dividend of $0.079 per share. The ex-dividend date was Monday, March 11th. This represents a $0.32 annualized dividend and a yield of 0.98%. Amkor Technology’s payout ratio is 20.39%.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology 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 transaction of $156,500.00. Following the completion of the sale, the executive vice president now owns 25,280 shares in the company, valued at $791,264. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Amkor Technology 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 transaction of $156,500.00. Following the completion of the sale, the executive vice president now owns 25,280 shares in the company, valued at $791,264. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $30.63, for a total transaction of $765,750.00. Following the sale, the chief executive officer now owns 123,728 shares of the company’s stock, valued at approximately $3,789,788.64. The disclosure for this sale can be found here. Insiders sold a total of 85,500 shares of company stock worth $2,651,220 over the last 90 days. Insiders own 31.40% of the company’s stock.

Institutional Trading of Amkor Technology

Institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP grew its position in shares of Amkor Technology by 1,324.6% during the fourth quarter. Allworth Financial LP now owns 812 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 755 shares during the last quarter. Pineridge Advisors LLC bought a new position in shares of Amkor Technology during the fourth quarter worth about $28,000. Fifth Third Bancorp grew its position in shares of Amkor Technology by 65.8% during the fourth quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 347 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of Amkor Technology by 1,414.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 863 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 806 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of Amkor Technology by 57.0% during the fourth quarter. Blue Trust Inc. now owns 1,487 shares of the semiconductor company’s stock worth $49,000 after acquiring an additional 540 shares during the last quarter. Institutional investors own 42.76% of the company’s stock.

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.