Amkor Technology, Inc. (NASDAQ:AMKR) Increases Dividend to $0.08 Per Share

Amkor Technology, Inc. (NASDAQ:AMKR) declared a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Stockholders of record on Wednesday, December 4th will be given a dividend of 0.0827 per share by the semiconductor company on Monday, December 23rd. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Wednesday, December 4th. This is a positive change from Amkor Technology’s previous quarterly dividend of $0.08.

Amkor Technology has increased its dividend by an average of 96.6% annually over the last three years. Amkor Technology has a dividend payout ratio of 16.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Amkor Technology to earn $1.85 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 17.3%.

Amkor Technology Trading Down 3.2 %

Shares of AMKR traded down $0.83 during trading hours on Friday, hitting $25.19. 1,033,581 shares of the stock were exchanged, compared to its average volume of 1,330,952. The firm has a market capitalization of $6.21 billion, a P/E ratio of 17.38 and a beta of 1.85. Amkor Technology has a fifty-two week low of $24.10 and a fifty-two week high of $44.86. The business has a 50-day moving average of $29.30 and a 200-day moving average of $32.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84.

Amkor Technology (NASDAQ:AMKR) last posted its earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.01). The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.54 EPS. On average, research analysts expect that Amkor Technology will post 1.42 EPS for the current year.

Insider Activity

In related news, Director Winston J. Churchill sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 19,871 shares of the company’s stock, valued at $655,146.87. This represents a 50.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 10,000 shares of Amkor Technology 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 transaction, the chief executive officer now owns 204,971 shares in the company, valued at $6,458,636.21. This trade represents a 4.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 31.40% of the company’s stock.

Analyst Ratings Changes

AMKR has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their target price on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. StockNews.com lowered shares of Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Needham & Company LLC cut their target price on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. The Goldman Sachs Group cut their price objective on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. Finally, KeyCorp lowered their price objective on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $35.63.

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.