Amkor Technology (NASDAQ:AMKR) Updates Q4 2024 Earnings Guidance

by · The Markets Daily

Amkor Technology (NASDAQ:AMKR – Get Free Report) updated its fourth quarter 2024 earnings guidance on Monday. The company provided earnings per share guidance of 0.280-0.440 for the period, compared to the consensus earnings per share estimate of 0.550. The company issued revenue guidance of $1.6 billion-$1.7 billion, compared to the consensus revenue estimate of $1.8 billion. Amkor Technology also updated its Q4 guidance to $0.28-$0.44 EPS.

Amkor Technology Stock Down 4.3 %

NASDAQ:AMKR traded down $1.15 on Thursday, hitting $25.58. 1,274,243 shares of the company’s stock were exchanged, compared to its average volume of 1,331,027. The firm has a 50-day moving average price of $30.49 and a 200-day moving average price of $33.22. 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. The company has a market cap of $6.30 billion, a P/E ratio of 17.26 and a beta of 1.84.

Amkor Technology (NASDAQ:AMKR – Get Free Report) last released its earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.01). The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion. Amkor Technology had a return on equity of 9.41% and a net margin of 5.87%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 EPS. As a group, analysts expect that Amkor Technology will post 1.55 EPS for the current fiscal year.

Amkor Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Tuesday, September 3rd were issued a dividend of $0.079 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 1.24%. Amkor Technology’s payout ratio is 20.95%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. StockNews.com downgraded Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. cut their price target on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a report on Tuesday. DA Davidson decreased their price objective on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday. KeyCorp cut their target price on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Needham & Company LLC decreased their price target on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.63.

View Our Latest Analysis on Amkor Technology

Insider Buying and Selling

In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total transaction of $315,100.00. Following the completion of the sale, the chief executive officer now directly owns 204,971 shares in the company, valued at approximately $6,458,636.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Winston J. Churchill sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the completion of the transaction, the director now owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. This trade 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 accessible through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 10,000 shares of Amkor Technology stock in a transaction dated 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 directly owns 204,971 shares in the company, valued at $6,458,636.21. The trade was 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.

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 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.

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