FY2024 EPS Estimate for Amkor Technology Lowered by Analyst

Amkor Technology, Inc. (NASDAQ:AMKR) – Research analysts at B. Riley cut their FY2024 EPS estimates for Amkor Technology in a research note issued on Monday, October 28th. B. Riley analyst C. Ellis now anticipates that the semiconductor company will post earnings of $1.40 per share for the year, down from their previous forecast of $1.50. The consensus estimate for Amkor Technology’s current full-year earnings is $1.55 per share. B. Riley also issued estimates for Amkor Technology’s Q4 2024 earnings at $0.36 EPS, Q1 2025 earnings at $0.26 EPS, Q2 2025 earnings at $0.28 EPS, Q1 2026 earnings at $0.43 EPS, Q2 2026 earnings at $0.46 EPS, Q3 2026 earnings at $0.72 EPS and FY2026 earnings at $2.25 EPS.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC dropped their price objective on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. dropped their price target on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday. KeyCorp cut their price objective on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday. Morgan Stanley lowered their target price on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, DA Davidson cut their price target on Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.63.

Amkor Technology Stock Down 5.2 %

AMKR stock opened at $27.98 on Wednesday. The firm has a 50-day moving average price of $30.62 and a 200-day moving average price of $33.26. Amkor Technology has a 12 month low of $17.58 and a 12 month high of $44.86. The company has a current ratio of 2.08, a quick ratio of 1.83 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $6.88 billion, a P/E ratio of 18.41 and a beta of 1.84.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.01). The business 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%. Amkor Technology’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 earnings per share.

Institutional Investors Weigh In On Amkor Technology

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Amkor Technology by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 14,976,630 shares of the semiconductor company’s stock worth $482,847,000 after acquiring an additional 219,638 shares during the period. Earnest Partners LLC grew its position in shares of Amkor Technology by 3.2% during the 2nd quarter. Earnest Partners LLC now owns 2,423,255 shares of the semiconductor company’s stock valued at $96,979,000 after purchasing an additional 75,364 shares in the last quarter. American Century Companies Inc. raised its position in shares of Amkor Technology by 54.4% in the second quarter. American Century Companies Inc. now owns 1,673,314 shares of the semiconductor company’s stock worth $66,966,000 after buying an additional 589,530 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in Amkor Technology during the second quarter valued at $58,379,000. Finally, Ceredex Value Advisors LLC purchased a new position in Amkor Technology during the third quarter worth about $42,610,000. 42.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the stock in a transaction that occurred 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 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 legal filing with the SEC, which can be accessed through this link. In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the business’s 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 sale, the chief executive officer now directly owns 204,971 shares in the company, valued at approximately $6,458,636.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Winston J. Churchill sold 20,000 shares of Amkor Technology stock in a transaction that occurred 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 $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 owned by insiders.

Amkor Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Tuesday, September 3rd were issued a $0.079 dividend. The ex-dividend date 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%.

About Amkor Technology

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.