Amkor Technology (NASDAQ:AMKR) Hits New 52-Week High at $31.36

Amkor Technology, Inc. (NASDAQ:AMKR – Get Rating)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $31.36 and last traded at $31.33, with a volume of 412871 shares. The stock had previously closed at $29.61.

Wall Street Analysts Forecast Growth

AMKR has been the topic of a number of recent research reports. StockNews.com initiated coverage on Amkor Technology in a research note on Wednesday, October 12th. They set a “buy” rating on the stock. DA Davidson lowered their price objective on Amkor Technology to $30.00 in a research note on Friday, November 4th.

Amkor Technology Stock Performance

The stock has a fifty day simple moving average of $27.29 and a two-hundred day simple moving average of $22.83. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 8.92 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.42 and a current ratio of 1.79.

Amkor Technology (NASDAQ:AMKR – Get Rating) last issued its earnings results on Monday, October 31st. The semiconductor company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.32. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $1.93 billion. Amkor Technology had a return on equity of 25.47% and a net margin of 11.84%. The company’s revenue was up 24.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. Analysts expect that Amkor Technology, Inc. will post 3.14 EPS for the current fiscal year.

Amkor Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 27th. Investors of record on Tuesday, December 6th were issued a dividend of $0.075 per share. This is an increase from Amkor Technology’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, December 5th. This represents a $0.30 annualized dividend and a dividend yield of 0.98%. Amkor Technology’s dividend payout ratio (DPR) is 9.04%.

Insider Activity at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 60,000 shares of the firm’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $22.00, for a total transaction of $1,320,000.00. Following the completion of the transaction, the chief executive officer now directly owns 200,000 shares of the company’s stock, valued at approximately $4,400,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Megan Faust sold 6,000 shares of the firm’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $25.77, for a total transaction of $154,620.00. Following the completion of the transaction, the chief financial officer now directly owns 8,512 shares of the company’s stock, valued at approximately $219,354.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 60,000 shares of Amkor Technology stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $22.00, for a total value of $1,320,000.00. Following the completion of the transaction, the chief executive officer now directly owns 200,000 shares of the company’s stock, valued at $4,400,000. The disclosure for this sale can be found here. Insiders have sold a total of 253,076 shares of company stock valued at $6,616,042 in the last 90 days. 56.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC increased its position in Amkor Technology by 28.6% in the 2nd quarter. AQR Capital Management LLC now owns 2,954,554 shares of the semiconductor company’s stock valued at $49,312,000 after buying an additional 656,355 shares in the last quarter. SW Investment Management LLC increased its position in Amkor Technology by 13.5% in the 2nd quarter. SW Investment Management LLC now owns 3,405,561 shares of the semiconductor company’s stock valued at $57,724,000 after buying an additional 405,561 shares in the last quarter. JPMorgan Chase & Co. increased its position in Amkor Technology by 73.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 934,799 shares of the semiconductor company’s stock valued at $15,844,000 after buying an additional 395,819 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Amkor Technology by 63.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 898,438 shares of the semiconductor company’s stock valued at $19,514,000 after buying an additional 348,491 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Amkor Technology by 109.3% in the 1st quarter. Renaissance Technologies LLC now owns 446,400 shares of the semiconductor company’s stock valued at $9,696,000 after buying an additional 233,100 shares in the last quarter. 38.07% 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. Its services include design, package characterization, test and wafer bumping services. The firm’s operations include production facilities, product development centers, and sales and support offices. The company was founded in 1986 and is headquartered in Tempe, AZ.