Amkor Technology (NASDAQ:AMKR) Updates Q2 Earnings Guidance

Amkor Technology (NASDAQ:AMKR) issued an update on its second quarter earnings guidance on Monday morning. The company provided EPS guidance of $0.14-0.30 for the period, compared to the consensus EPS estimate of $0.16. The company issued revenue guidance of $1.40-1.50 billion, compared to the consensus revenue estimate of $1.39 billion.

Amkor Technology Stock Performance

AMKR traded up $0.85 during trading on Monday, hitting $31.47. The stock had a trading volume of 1,415,287 shares, compared to its average volume of 923,871. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 20.97 and a beta of 1.96. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.31 and a quick ratio of 2.02. The company has a 50 day moving average price of $31.57 and a 200-day moving average price of $29.68. Amkor Technology has a one year low of $17.58 and a one year high of $37.00.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, February 12th. The semiconductor company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. Amkor Technology had a return on equity of 9.37% and a net margin of 5.53%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the previous year, the firm earned $0.67 EPS. Amkor Technology’s revenue was down 8.1% on a year-over-year basis. As a group, research analysts predict that Amkor Technology will post 1.63 EPS for the current year.

Amkor Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Tuesday, March 12th were given a dividend of $0.079 per share. The ex-dividend date was Monday, March 11th. This represents a $0.32 dividend on an annualized basis and a yield of 1.00%. Amkor Technology’s dividend payout ratio is currently 21.23%.

Wall Street Analyst Weigh In

A number of research firms have commented on AMKR. Needham & Company LLC assumed coverage on Amkor Technology in a research report on Tuesday, April 9th. They issued a buy rating and a $40.00 price target on the stock. Fox Advisors assumed coverage on Amkor Technology in a research report on Thursday, March 14th. They set an equal weight rating on the stock. Finally, The Goldman Sachs Group assumed coverage on Amkor Technology in a research report on Thursday, February 29th. They set a neutral rating and a $32.00 target price on the stock. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $34.33.

Insider Transactions at Amkor Technology

In other news, CFO Megan Faust sold 2,700 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $30.34, for a total value of $81,918.00. Following the completion of the sale, the chief financial officer now directly owns 38,811 shares of the company’s stock, valued at $1,177,525.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $30.63, for a total transaction of $765,750.00. Following the completion of the transaction, the chief executive officer now directly owns 123,728 shares of the company’s stock, valued at $3,789,788.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $81,918.00. Following the completion of the transaction, the chief financial officer now directly owns 38,811 shares of the company’s stock, valued at $1,177,525.74. The disclosure for this sale can be found here. Insiders sold a total of 80,500 shares of company stock valued at $2,494,720 over the last ninety days. 31.40% of the stock is currently owned by insiders.

About Amkor Technology

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.