Q3 2024 Earnings Forecast for Amkor Technology, Inc. Issued By B. Riley (NASDAQ:AMKR)

Amkor Technology, Inc. (NASDAQ:AMKR) – Equities research analysts at B. Riley dropped their Q3 2024 earnings estimates for Amkor Technology in a research report issued on Monday, April 29th. B. Riley analyst C. Ellis now anticipates that the semiconductor company will post earnings per share of $0.62 for the quarter, down from their previous estimate of $0.72. 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 $1.63 per share. B. Riley also issued estimates for Amkor Technology’s Q4 2024 earnings at $0.68 EPS, FY2024 earnings at $1.75 EPS, Q1 2025 earnings at $0.31 EPS, Q2 2025 earnings at $0.41 EPS and Q4 2025 earnings at $0.87 EPS.

AMKR has been the topic of a number of other reports. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of Amkor Technology in a research report on Tuesday. DA Davidson boosted their target price on shares of Amkor Technology from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday. Fox Advisors started coverage on shares of Amkor Technology in a research note on Thursday, March 14th. They set an “equal weight” rating for the company. Morgan Stanley raised their price target on shares of Amkor Technology from $32.00 to $34.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, The Goldman Sachs Group increased 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. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.67.

Amkor Technology Stock Down 6.2 %

AMKR stock opened at $30.33 on Wednesday. The company has a current ratio of 2.31, a quick ratio of 2.02 and a debt-to-equity ratio of 0.27. Amkor Technology has a twelve month low of $17.58 and a twelve month high of $37.00. The company’s 50 day moving average is $31.65 and its two-hundred day moving average is $29.80. The stock has a market cap of $7.46 billion, a P/E ratio of 19.89 and a beta of 1.96.

Amkor Technology (NASDAQ:AMKR) last announced its earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.13. Amkor Technology had a net margin of 5.84% and a return on equity of 9.63%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the firm posted $0.18 earnings per share. Amkor Technology’s revenue was down 7.2% compared to the same quarter last year.

Amkor Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were given a dividend of $0.079 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Monday, March 11th. Amkor Technology’s payout ratio is currently 20.39%.

Insider Transactions at Amkor Technology

In related news, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly 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 is accessible through the SEC website. In related news, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $30.34, for a total transaction of $81,918.00. Following the transaction, the chief financial officer now directly owns 38,811 shares of the company’s stock, valued at $1,177,525.74. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $31.23, for a total value of $780,750.00. Following the completion of the transaction, the chief executive officer now directly owns 124,476 shares in the company, valued at approximately $3,887,385.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,500 shares of company stock valued at $2,494,720. 31.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AMKR. Allworth Financial LP grew its position in Amkor Technology by 1,324.6% in 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 during the period. Pineridge Advisors LLC bought a new position in shares of Amkor Technology during the fourth quarter worth about $28,000. Fifth Third Bancorp boosted its position in 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 purchasing an additional 347 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in 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 purchasing an additional 806 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Amkor Technology by 57.0% in the fourth quarter. Blue Trust Inc. now owns 1,487 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 540 shares during the last quarter. 42.76% of the stock is owned by institutional investors.

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.