Research Analysts Issue Forecasts for Amkor Technology, Inc.’s Q2 2024 Earnings (NASDAQ:AMKR)

Amkor Technology, Inc. (NASDAQ:AMKR) – B. Riley boosted their Q2 2024 earnings per share (EPS) estimates for Amkor Technology in a research report issued to clients and investors on Monday, April 29th. B. Riley analyst C. Ellis now expects that the semiconductor company will post earnings per share of $0.22 for the quarter, up from their previous forecast of $0.09. B. Riley has a “Buy” rating and a $45.00 price target on the stock. The consensus estimate for Amkor Technology’s current full-year earnings is $1.78 per share. B. Riley also issued estimates for Amkor Technology’s Q3 2025 earnings at $0.97 EPS and FY2025 earnings at $2.56 EPS.

A number of other brokerages also recently commented on AMKR. Fox Advisors assumed coverage on Amkor Technology in a research report on Thursday, March 14th. They set an “equal weight” rating on the stock. The Goldman Sachs Group lifted their price objective on Amkor Technology from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday. DA Davidson lifted their price objective on Amkor Technology from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of Amkor Technology in a research note on Tuesday. Finally, Morgan Stanley raised their target price on Amkor Technology from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.67.

Amkor Technology Stock Performance

NASDAQ AMKR opened at $32.34 on Thursday. The company has a market cap of $7.95 billion, a PE ratio of 21.28 and a beta of 1.94. The stock’s 50 day simple moving average is $31.67 and its 200-day simple moving average is $29.82. Amkor Technology has a 1-year low of $17.58 and a 1-year high of $37.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.34 and a quick ratio of 2.02.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.13. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share.

Hedge Funds Weigh In On Amkor Technology

A number of institutional investors have recently modified their holdings of the business. SummerHaven Investment Management LLC raised its holdings in shares of Amkor Technology by 1.4% in the fourth quarter. SummerHaven Investment Management LLC now owns 24,548 shares of the semiconductor company’s stock valued at $817,000 after buying an additional 327 shares during the last quarter. Retirement Systems of Alabama raised its stake in Amkor Technology by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 129,621 shares of the semiconductor company’s stock valued at $4,179,000 after acquiring an additional 344 shares during the last quarter. Fifth Third Bancorp lifted its position in Amkor Technology by 65.8% during the 4th quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 347 shares during the period. Arizona State Retirement System grew its stake in shares of Amkor Technology by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 31,473 shares of the semiconductor company’s stock valued at $711,000 after purchasing an additional 428 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Amkor Technology by 3.5% in the fourth quarter. Assetmark Inc. now owns 12,874 shares of the semiconductor company’s stock valued at $428,000 after purchasing an additional 438 shares during the period. 42.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Amkor Technology

In other news, EVP Mark N. Rogers sold 5,000 shares of the 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 transaction, the executive vice president now owns 25,280 shares in the company, valued at approximately $791,264. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Mark N. Rogers sold 5,000 shares of Amkor Technology stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $31.30, for a total transaction of $156,500.00. Following the sale, the executive vice president now directly owns 25,280 shares in the company, valued at approximately $791,264. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $31.17, for a total transaction of $779,250.00. Following the completion of the sale, the chief executive officer now directly owns 114,476 shares of the company’s stock, valued at $3,568,216.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,500 shares of company stock worth $2,651,220. Company insiders own 31.40% of the company’s stock.

Amkor Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Tuesday, March 12th were issued a $0.079 dividend. The ex-dividend date was Monday, March 11th. This represents a $0.32 dividend on an annualized basis and a yield of 0.98%. Amkor Technology’s dividend payout ratio (DPR) is presently 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.