Analysts Issue Forecasts for Amkor Technology, Inc.’s FY2023 Earnings (NASDAQ:AMKR)

Amkor Technology, Inc. (NASDAQ:AMKR) – Stock analysts at B. Riley issued their FY2023 EPS estimates for shares of Amkor Technology in a research note issued on Wednesday, November 15th. B. Riley analyst C. Ellis expects that the semiconductor company will earn $1.39 per share for the year. B. Riley has a “Buy” rating and a $35.00 price target on the stock. The consensus estimate for Amkor Technology’s current full-year earnings is $1.39 per share. B. Riley also issued estimates for Amkor Technology’s Q4 2023 earnings at $0.40 EPS, Q1 2024 earnings at $0.18 EPS, Q2 2024 earnings at $0.18 EPS, Q3 2024 earnings at $0.56 EPS, Q4 2024 earnings at $0.67 EPS, FY2024 earnings at $1.59 EPS, Q1 2025 earnings at $0.45 EPS, Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.83 EPS and FY2025 earnings at $2.57 EPS.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results on Monday, October 30th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. Amkor Technology had a net margin of 6.11% and a return on equity of 10.79%. The firm’s quarterly revenue was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 EPS.

Other research analysts also recently issued reports about the stock. UBS Group started coverage on shares of Amkor Technology in a research report on Thursday. They set a “buy” rating and a $31.00 target price on the stock. StockNews.com downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. DA Davidson upped their target price on shares of Amkor Technology from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Finally, Morgan Stanley started coverage on shares of Amkor Technology in a research report on Thursday, November 9th. They set an “equal weight” rating and a $27.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Amkor Technology currently has an average rating of “Moderate Buy” and a consensus price target of $32.25.

Amkor Technology Stock Up 1.9 %

Shares of NASDAQ AMKR opened at $26.49 on Monday. The company has a quick ratio of 1.65, a current ratio of 1.95 and a debt-to-equity ratio of 0.24. Amkor Technology has a 12-month low of $17.58 and a 12-month high of $31.38. The company has a market cap of $6.51 billion, a price-to-earnings ratio of 16.05 and a beta of 1.85. The firm’s 50-day simple moving average is $22.79 and its 200 day simple moving average is $25.11.

Amkor Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 26th. Investors of record on Tuesday, December 5th will be given a $0.079 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.19%. This is an increase from Amkor Technology’s previous quarterly dividend of $0.08. The ex-dividend date is Monday, December 4th. Amkor Technology’s dividend payout ratio (DPR) is currently 18.18%.

Insider Activity at Amkor Technology

In related news, major shareholder James J. Kim sold 10,000,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $23.22, for a total transaction of $232,200,000.00. Following the completion of the sale, the insider now directly owns 39,594,980 shares of the company’s stock, valued at approximately $919,395,435.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder James J. Kim sold 10,000,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $23.22, for a total transaction of $232,200,000.00. Following the completion of the sale, the insider now directly owns 39,594,980 shares of the company’s stock, valued at approximately $919,395,435.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark N. Rogers sold 5,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $23.84, for a total value of $119,200.00. Following the sale, the executive vice president now directly owns 20,815 shares of the company’s stock, valued at $496,229.60. The disclosure for this sale can be found here. Insiders have sold 10,010,400 shares of company stock worth $232,441,240 in the last ninety days. Company insiders own 53.30% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its stake in shares of Amkor Technology by 6.3% during the 2nd quarter. BlackRock Inc. now owns 14,142,932 shares of the semiconductor company’s stock worth $420,752,000 after acquiring an additional 835,069 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Amkor Technology by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 12,002,251 shares of the semiconductor company’s stock worth $260,689,000 after acquiring an additional 132,938 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Amkor Technology by 1,757.9% during the 2nd quarter. Alliancebernstein L.P. now owns 4,182,333 shares of the semiconductor company’s stock worth $124,424,000 after acquiring an additional 3,957,221 shares in the last quarter. State Street Corp grew its stake in shares of Amkor Technology by 2.8% during the 1st quarter. State Street Corp now owns 3,515,892 shares of the semiconductor company’s stock worth $91,484,000 after acquiring an additional 95,883 shares in the last quarter. Finally, SW Investment Management LLC grew its stake in shares of Amkor Technology by 9.1% during the 1st quarter. SW Investment Management LLC now owns 3,000,000 shares of the semiconductor company’s stock worth $65,165,000 after acquiring an additional 250,000 shares in the last quarter. 38.69% 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 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.