Amkor Technology, Inc. (NASDAQ:AMKR) Announces Quarterly Dividend of $0.08

Amkor Technology, Inc. (NASDAQ:AMKR) declared a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Investors of record on Wednesday, December 4th will be paid 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 is Wednesday, December 4th. This is an increase from Amkor Technology’s previous quarterly dividend of $0.08.

Amkor Technology has raised its dividend by an average of 96.6% annually over the last three years. Amkor Technology has a 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 Stock Performance

Shares of Amkor Technology stock traded down $0.80 during midday trading on Friday, hitting $25.22. The company had a trading volume of 798,690 shares, compared to its average volume of 1,329,894. The business’s 50 day simple moving average is $29.30 and its two-hundred day simple moving average is $32.94. The stock has a market cap of $6.22 billion, a PE ratio of 17.38 and a beta of 1.85. 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 has a 1-year low of $24.10 and a 1-year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.01). The company 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 for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 EPS. As a group, equities analysts predict that Amkor Technology will post 1.42 EPS for the current fiscal year.

Insider Activity

In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total value of $315,100.00. Following the transaction, the chief executive officer now directly owns 204,971 shares in the company, valued at $6,458,636.21. This trade represents a 4.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Winston J. Churchill sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the sale, the director now owns 19,871 shares of the company’s stock, valued at $655,146.87. This trade represents a 50.16 % 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 Upgrades and Downgrades

A number of research firms have recently commented on AMKR. DA Davidson reduced their price objective on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company 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 note on Tuesday, October 29th. The Goldman Sachs Group dropped their target price on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. KeyCorp lowered their target price on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Finally, StockNews.com lowered Amkor Technology from a “buy” rating to a “hold” rating in a 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, Amkor Technology presently has a consensus rating of “Moderate Buy” and an average price target of $35.63.

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 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.