Amkor Technology (NASDAQ:AMKR) Updates Q4 2022 Earnings Guidance

Amkor Technology (NASDAQ:AMKR – Get Rating) issued an update on its fourth quarter 2022 earnings guidance on Monday morning. The company provided earnings per share guidance of $0.60-$0.80 for the period, compared to the consensus earnings per share estimate of $0.88. The company issued revenue guidance of $1.80 billion-$1.90 billion, compared to the consensus revenue estimate of $1.87 billion.

Amkor Technology Stock Performance

NASDAQ AMKR opened at $21.06 on Monday. The stock has a market cap of $5.16 billion, a P/E ratio of 6.34 and a beta of 1.56. The company’s 50-day simple moving average is $18.73 and its 200 day simple moving average is $19.03. Amkor Technology has a twelve month low of $14.89 and a twelve month high of $26.64. The company has a quick ratio of 1.30, a current ratio of 1.79 and a debt-to-equity ratio of 0.28.

Amkor Technology (NASDAQ:AMKR – Get Rating) last posted its earnings results on Monday, October 31st. The semiconductor company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.31. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $1.93 billion. Amkor Technology had a net margin of 11.84% and a return on equity of 25.47%. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. As a group, research analysts forecast that Amkor Technology will post 3.14 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 26th. Investors of record on Tuesday, September 6th were paid a $0.05 dividend. The ex-dividend date was Friday, September 2nd. This represents a $0.20 dividend on an annualized basis and a yield of 0.95%. Amkor Technology’s payout ratio is currently 6.02%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AMKR shares. StockNews.com started coverage on shares of Amkor Technology in a research note on Wednesday, October 12th. They issued a buy rating on the stock. DA Davidson decreased their price objective on shares of Amkor Technology to $30.00 in a research note on Friday.

Insiders Place Their Bets

In other Amkor Technology news, CFO Megan Faust sold 6,000 shares of the company’s stock in a transaction dated Friday, October 21st. The shares were sold at an average price of $19.07, for a total transaction of $114,420.00. Following the sale, the chief financial officer now directly owns 8,512 shares of the company’s stock, valued at $162,323.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 56.50% of the company’s stock.

Institutional Trading of Amkor Technology

Hedge funds have recently modified their holdings of the stock. Baird Financial Group Inc. grew its stake in shares of Amkor Technology by 17.7% during the first quarter. Baird Financial Group Inc. now owns 23,132 shares of the semiconductor company’s stock valued at $503,000 after purchasing an additional 3,485 shares during the last quarter. Atria Wealth Solutions Inc. grew its stake in shares of Amkor Technology by 156.1% during the second quarter. Atria Wealth Solutions Inc. now owns 27,321 shares of the semiconductor company’s stock valued at $463,000 after purchasing an additional 16,651 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Amkor Technology by 7.1% during the first quarter. Hsbc Holdings PLC now owns 19,166 shares of the semiconductor company’s stock valued at $420,000 after purchasing an additional 1,271 shares during the last quarter. Private Advisor Group LLC bought a new stake in shares of Amkor Technology during the first quarter valued at approximately $330,000. Finally, Laurel Wealth Advisors Inc. bought a new stake in shares of Amkor Technology during the first quarter valued at approximately $299,000. 38.69% of the stock is owned by institutional investors.

About Amkor Technology

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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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