FY2024 EPS Estimates for Amkor Technology Cut by DA Davidson

Amkor Technology, Inc. (NASDAQ:AMKR) – Analysts at DA Davidson decreased their FY2024 EPS estimates for Amkor Technology in a research note issued on Tuesday, October 29th. DA Davidson analyst T. Diffely now anticipates that the semiconductor company will post earnings per share of $1.38 for the year, down from their prior forecast of $1.55. DA Davidson has a “Buy” rating and a $36.00 price objective on the stock. The consensus estimate for Amkor Technology’s current full-year earnings is $1.55 per share. DA Davidson also issued estimates for Amkor Technology’s Q4 2024 earnings at $0.38 EPS and FY2025 earnings at $2.00 EPS.

A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday. The Goldman Sachs Group reduced their price objective on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday. KeyCorp lowered their target price on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday. Morgan Stanley reduced their price target on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Needham & Company LLC lowered their price target on Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Amkor Technology currently has an average rating of “Moderate Buy” and a consensus price target of $35.63.

Amkor Technology Stock Performance

AMKR stock opened at $25.45 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.83 and a current ratio of 2.08. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $44.86. The stock’s fifty day moving average is $30.49 and its two-hundred day moving average is $33.22. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 17.20 and a beta of 1.84.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly 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 during 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 company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the business posted $0.54 EPS.

Hedge Funds Weigh In On Amkor Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. M&G Plc acquired a new position in shares of Amkor Technology in the first quarter worth about $11,435,000. Duality Advisers LP purchased a new position in Amkor Technology during the 1st quarter worth approximately $849,000. Capital World Investors acquired a new stake in Amkor Technology during the 1st quarter valued at $9,288,000. Vanguard Group Inc. lifted its holdings in shares of Amkor Technology by 1.5% in the first quarter. Vanguard Group Inc. now owns 14,976,630 shares of the semiconductor company’s stock valued at $482,847,000 after purchasing an additional 219,638 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Amkor Technology in the first quarter worth $1,257,000. Institutional investors and hedge funds own 42.76% of the company’s stock.

Insider Activity at Amkor Technology

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of Amkor Technology stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total value of $315,100.00. Following the transaction, the chief executive officer now owns 204,971 shares in the company, valued at approximately $6,458,636.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Winston J. Churchill sold 20,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total value of $659,400.00. Following the sale, the director now owns 19,871 shares of the company’s stock, valued at $655,146.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 31.40% of the company’s stock.

Amkor Technology Announces Dividend

The company also recently disclosed 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 1.24%. Amkor Technology’s dividend payout ratio (DPR) is 20.95%.

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.