Amkor Technology (NASDAQ:AMKR) Updates Q4 Earnings Guidance

Amkor Technology (NASDAQ:AMKR) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.28-$0.44 for the period, compared to the consensus earnings per share estimate of $0.55. The company issued revenue guidance of $1.6-$1.7 billion, compared to the consensus revenue estimate of $1.84 billion.

Amkor Technology Stock Down 1.2 %

Amkor Technology stock traded down $0.35 during mid-day trading on Monday, reaching $29.53. The stock had a trading volume of 2,378,108 shares, compared to its average volume of 1,303,235. The company has a market capitalization of $7.26 billion, a price-to-earnings ratio of 19.43 and a beta of 1.84. The company has a 50-day moving average price of $30.78 and a two-hundred day moving average price of $33.32. Amkor Technology has a one year low of $17.58 and a one year high of $44.86. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.08 and a quick ratio of 1.83.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. Amkor Technology’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 EPS. On average, analysts expect that Amkor Technology will post 1.55 EPS for the current fiscal year.

Amkor Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.079 per share. This represents a $0.32 annualized dividend and a yield of 1.07%. The ex-dividend date was Tuesday, September 3rd. Amkor Technology’s dividend payout ratio is currently 20.39%.

Analysts Set New Price Targets

Several equities analysts have issued reports on AMKR shares. Needham & Company LLC upped their target price on shares of Amkor Technology from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. StockNews.com upgraded shares of Amkor Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. KeyCorp began coverage on shares of Amkor Technology in a research note on Friday, September 20th. They set an “overweight” rating and a $38.00 target price on the stock. JPMorgan Chase & Co. began coverage on shares of Amkor Technology in a research report on Monday, July 1st. They set an “overweight” rating and a $48.00 price target for the company. Finally, Morgan Stanley upped their price target 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 research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.75.

Insider Buying and Selling

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

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.