Amkor Technology (NASDAQ:AMKR – Get Rating) issued an update on its third quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.82-$1.02 for the period, compared to the consensus earnings per share estimate of $0.80. The company issued revenue guidance of $1.88 billion-$1.98 billion, compared to the consensus revenue estimate of $1.79 billion.
Amkor Technology Trading Down 7.2 %
Shares of Amkor Technology stock traded down $1.61 during trading hours on Tuesday, reaching $20.75. The stock had a trading volume of 19,253 shares, compared to its average volume of 798,724. The firm has a 50 day simple moving average of $18.44 and a two-hundred day simple moving average of $20.06. The firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of 7.93 and a beta of 1.55. The company has a current ratio of 1.66, a quick ratio of 1.30 and a debt-to-equity ratio of 0.30. Amkor Technology has a 1 year low of $14.89 and a 1 year high of $29.50.
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Amkor Technology (NASDAQ:AMKR – Get Rating) last released its quarterly earnings data on Monday, August 1st. The semiconductor company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.52 billion. Amkor Technology had a return on equity of 22.93% and a net margin of 10.65%. The company's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $0.51 EPS. As a group, equities research analysts anticipate that Amkor Technology will post 2.92 earnings per share for the current year.
Amkor Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 27th. Stockholders of record on Tuesday, June 7th were issued a $0.05 dividend. The ex-dividend date was Monday, June 6th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.96%. Amkor Technology's dividend payout ratio (DPR) is 7.09%.
Analysts Set New Price Targets
Separately, DA Davidson started coverage on Amkor Technology in a research note on Wednesday, June 29th. They issued a buy rating and a $30.00 target price for the company.
Insider Activity
In other news, CEO Guillaume Marie Jean Rutten sold 60,000 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $22.01, for a total value of $1,320,600.00. Following the completion of the sale, the chief executive officer now owns 245,000 shares in the company, valued at $5,392,450. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Amkor Technology news, CFO Megan Faust sold 12,000 shares of the firm's stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $19.07, for a total transaction of $228,840.00. Following the completion of the sale, the chief financial officer now owns 8,512 shares in the company, valued at approximately $162,323.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 60,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $22.01, for a total value of $1,320,600.00. Following the sale, the chief executive officer now owns 245,000 shares of the company's stock, valued at approximately $5,392,450. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,000 shares of company stock worth $1,668,840. 56.50% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Amkor Technology
Hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC acquired a new stake in Amkor Technology during the 1st quarter valued at approximately $38,000. Advisors Asset Management Inc. grew its stake in Amkor Technology by 57.3% during the 1st quarter. Advisors Asset Management Inc. now owns 2,936 shares of the semiconductor company's stock valued at $64,000 after purchasing an additional 1,069 shares in the last quarter. Covestor Ltd grew its stake in Amkor Technology by 169.2% during the 1st quarter. Covestor Ltd now owns 5,133 shares of the semiconductor company's stock valued at $112,000 after purchasing an additional 3,226 shares in the last quarter. Captrust Financial Advisors grew its stake in Amkor Technology by 23.2% during the 1st quarter. Captrust Financial Advisors now owns 6,162 shares of the semiconductor company's stock valued at $134,000 after purchasing an additional 1,161 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Amkor Technology in the 1st quarter worth approximately $230,000. Institutional investors and hedge funds own 59.68% of the company's stock.
Amkor Technology Company Profile
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Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and the rest of the Asia Pacific. It offers turnkey packaging and test services, including semiconductor wafer bump, wafer probe, wafer back-grind, package design, packaging, and test and drop shipment services.
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