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

Amkor Technology, Inc. (NASDAQ:AMKR) declared a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Investors 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 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Wednesday, December 4th. This is a boost from Amkor Technology’s previous quarterly dividend of $0.08.

Amkor Technology has increased its dividend by an average of 96.6% per year over the last three years. Amkor Technology has a payout ratio of 16.8% indicating that its dividend is sufficiently covered by earnings. Research 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 Down 3.2 %

NASDAQ AMKR traded down $0.83 during mid-day trading on Friday, reaching $25.19. 1,033,580 shares of the company’s stock traded hands, compared to its average volume of 1,330,952. The company has a current ratio of 2.06, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21. Amkor Technology has a 1-year low of $24.10 and a 1-year high of $44.86. The company has a fifty day simple moving average of $29.30 and a 200-day simple moving average of $32.94. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 17.38 and a beta of 1.85.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly 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 company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 earnings per share. As a group, equities research analysts expect that Amkor Technology will post 1.42 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. decreased their price target on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Needham & Company LLC lowered their price target on Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Morgan Stanley reduced their price objective on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. StockNews.com downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, KeyCorp reduced their price target on shares of 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 investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Amkor Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.63.

Insider Buying and Selling

In other Amkor Technology news, Director Winston J. Churchill sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total transaction of $659,400.00. Following the completion of the transaction, the director now owns 19,871 shares in the company, valued at approximately $655,146.87. The trade was a 50.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 204,971 shares of the company’s stock, valued at approximately $6,458,636.21. The trade was a 4.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company’s stock.

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.