Amkor Technology (NASDAQ:AMKR) Issues Q3 Earnings Guidance

Amkor Technology (NASDAQ:AMKR) issued an update on its third quarter earnings guidance on Monday morning. The company provided EPS guidance of $0.42-0.56 for the period, compared to the consensus EPS estimate of $0.64. The company issued revenue guidance of $1.785-1.885 billion, compared to the consensus revenue estimate of $1.87 billion.

Amkor Technology Price Performance

NASDAQ:AMKR traded down $0.55 during mid-day trading on Monday, hitting $37.60. 2,803,660 shares of the stock traded hands, compared to its average volume of 1,189,715. The business’s 50-day moving average price is $37.48 and its 200 day moving average price is $33.73. The company has a market cap of $9.24 billion, a PE ratio of 25.10 and a beta of 1.86. Amkor Technology has a 12-month low of $17.58 and a 12-month high of $44.86. The company has a quick ratio of 2.08, a current ratio of 2.34 and a debt-to-equity ratio of 0.26.

Amkor Technology (NASDAQ:AMKR) last announced its earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.36 billion. During the same period in the previous year, the business posted $0.18 earnings per share. Amkor Technology’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, analysts expect that Amkor Technology will post 1.76 EPS for the current fiscal year.

Amkor Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Tuesday, June 4th were issued a $0.079 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.84%. Amkor Technology’s payout ratio is 20.39%.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMKR. DA Davidson upped their price target on shares of Amkor Technology from $35.00 to $40.00 and gave the company a buy rating in a report on Tuesday, April 30th. JPMorgan Chase & Co. began coverage on shares of Amkor Technology in a report on Monday, July 1st. They set an overweight rating and a $48.00 price target for the company. Needham & Company LLC reissued a buy rating and set a $40.00 price objective on shares of Amkor Technology in a research report on Tuesday, April 30th. The Goldman Sachs Group boosted their price objective on shares of Amkor Technology from $32.00 to $36.00 and gave the company a neutral rating in a research report on Wednesday, May 1st. Finally, Morgan Stanley boosted their price objective on shares of Amkor Technology from $34.00 to $38.00 and gave the company an equal weight rating in a research report on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $40.43.

Insider Buying and Selling

In other news, Director Gil C. Tily sold 20,000 shares of Amkor Technology stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $32.20, for a total transaction of $644,000.00. Following the completion of the sale, the director now directly owns 129,218 shares in the company, valued at $4,160,819.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Gil C. Tily sold 20,000 shares of Amkor Technology stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $32.20, for a total transaction of $644,000.00. Following the completion of the sale, the director now directly owns 129,218 shares in the company, valued at $4,160,819.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction on Monday, July 15th. The stock was sold at an average price of $42.94, for a total value of $1,073,500.00. Following the sale, the chief executive officer now owns 128,333 shares of the company’s stock, valued at $5,510,619.02. The disclosure for this sale can be found here. Insiders sold a total of 75,000 shares of company stock worth $2,708,250 over the last three months. 31.40% of the stock is owned by insiders.

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.