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

Amkor Technology, Inc. (NASDAQ:AMKR) announced 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 1.25%. The ex-dividend date is Wednesday, December 4th. This is a positive change from Amkor Technology’s previous quarterly dividend of $0.08.

Amkor Technology has raised its dividend by an average of 96.6% per year over the last three years. Amkor Technology has a payout ratio of 17.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Amkor Technology to earn $1.85 per share next year, which means the company should continue to be able to cover its $0.33 annual dividend with an expected future payout ratio of 17.8%.

Amkor Technology Price Performance

Shares of NASDAQ AMKR opened at $26.44 on Monday. The stock’s 50-day moving average is $28.41 and its two-hundred day moving average is $32.46. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84. The company has a market cap of $6.52 billion, a price-to-earnings ratio of 17.86 and a beta of 1.85. 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 results on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.01). Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the firm earned $0.54 EPS. The company’s revenue was up 2.2% on a year-over-year basis. Analysts forecast that Amkor Technology will post 1.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Morgan Stanley reduced their price target on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. DA Davidson reduced their target price on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. JPMorgan Chase & Co. dropped their price target on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Needham & Company LLC lowered their price objective on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Finally, StockNews.com cut shares of Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $36.29.

Insider Activity at Amkor Technology

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total transaction of $315,100.00. Following the completion of the transaction, the chief executive officer now directly owns 204,971 shares in the company, valued at approximately $6,458,636.21. This trade represents a 4.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 31.40% of the stock is currently owned by company insiders.

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.