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

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

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

Amkor Technology Price Performance

NASDAQ:AMKR opened at $32.34 on Thursday. The stock has a market cap of $7.95 billion, a PE ratio of 21.28 and a beta of 1.94. The business’s 50-day simple moving average is $31.67 and its two-hundred day simple moving average is $29.82. The company has a quick ratio of 2.02, a current ratio of 2.34 and a debt-to-equity ratio of 0.26. Amkor Technology has a 52 week low of $17.58 and a 52 week high of $37.00.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Allworth Financial LP raised its stake 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 valued at $27,000 after acquiring an additional 755 shares in the last quarter. Pineridge Advisors LLC bought a new stake in shares of Amkor Technology during the fourth quarter valued at approximately $28,000. Parkside Financial Bank & Trust raised its stake 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 valued at $29,000 after acquiring an additional 806 shares in the last quarter. Fifth Third Bancorp raised its stake 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 valued at $29,000 after acquiring an additional 347 shares in the last quarter. Finally, Blue Trust Inc. raised its stake 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 valued at $49,000 after acquiring an additional 540 shares in the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Insider Buying and Selling

In related news, EVP Mark N. Rogers sold 5,000 shares of Amkor Technology stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $31.30, for a total value of $156,500.00. Following the completion of the transaction, the executive vice president now owns 25,280 shares in the company, valued at $791,264. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Amkor Technology news, CFO Megan Faust sold 2,700 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $30.34, for a total transaction of $81,918.00. Following the completion of the transaction, the chief financial officer now owns 38,811 shares in the company, valued at $1,177,525.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark N. Rogers sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $31.30, for a total value of $156,500.00. Following the transaction, the executive vice president now owns 25,280 shares of the company’s stock, valued at approximately $791,264. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,500 shares of company stock worth $2,651,220. Corporate insiders own 31.40% of the company’s stock.

Amkor Technology Dividend Announcement

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

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.