Amkor Technology (NASDAQ:AMKR) Shares Gap Up – Here’s What Happened

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) gapped up prior to trading on Tuesday . The stock had previously closed at $65.75, but opened at $72.00. Amkor Technology shares last traded at $73.06, with a volume of 1,155,505 shares.

Analysts Set New Price Targets

Several brokerages have recently commented on AMKR. Zacks Research downgraded Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. The Goldman Sachs Group lifted their target price on Amkor Technology from $43.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. UBS Group reissued a “neutral” rating and issued a $80.00 price target on shares of Amkor Technology in a report on Tuesday. Wall Street Zen lowered shares of Amkor Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 21st. Finally, B. Riley Financial lifted their price objective on shares of Amkor Technology from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $67.38.

Amkor Technology Trading Up 11.6%

The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.74. The stock’s 50-day moving average is $60.53 and its two-hundred day moving average is $49.66. The stock has a market cap of $18.19 billion, a P/E ratio of 41.94 and a beta of 2.29.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.10. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the business earned $0.09 earnings per share. Amkor Technology’s revenue for the quarter was up 27.5% on a year-over-year basis. Equities research analysts anticipate that Amkor Technology, Inc. will post 2.08 EPS for the current year.

Amkor Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd will be given a dividend of $0.0835 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.5%. Amkor Technology’s dividend payout ratio is currently 18.86%.

Insider Activity

In related news, Director Roger Anthony Carolin sold 20,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $76.24, for a total transaction of $1,524,800.00. Following the completion of the transaction, the director owned 94,409 shares in the company, valued at approximately $7,197,742.16. This represents a 17.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Winston J. Churchill sold 7,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $76.45, for a total transaction of $535,150.00. Following the sale, the director directly owned 18,888 shares in the company, valued at approximately $1,443,987.60. The trade was a 27.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 113,000 shares of company stock valued at $8,258,950 in the last quarter. Company insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Amkor Technology by 4.6% during the third quarter. Vanguard Group Inc. now owns 15,779,847 shares of the semiconductor company’s stock valued at $448,148,000 after purchasing an additional 687,900 shares in the last quarter. AQR Capital Management LLC raised its stake in Amkor Technology by 18.4% during the third quarter. AQR Capital Management LLC now owns 4,211,529 shares of the semiconductor company’s stock valued at $119,607,000 after purchasing an additional 653,489 shares in the last quarter. American Century Companies Inc. raised its stake in Amkor Technology by 0.5% during the third quarter. American Century Companies Inc. now owns 3,835,987 shares of the semiconductor company’s stock valued at $108,942,000 after purchasing an additional 17,656 shares in the last quarter. State Street Corp raised its stake in Amkor Technology by 1.4% during the fourth quarter. State Street Corp now owns 3,473,925 shares of the semiconductor company’s stock valued at $137,151,000 after purchasing an additional 47,514 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Amkor Technology by 37.4% during the fourth quarter. First Trust Advisors LP now owns 2,722,310 shares of the semiconductor company’s stock valued at $107,477,000 after purchasing an additional 740,701 shares in the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

About Amkor Technology

Amkor Technology, Inc (NASDAQ:AMKR) is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.