Amkor Technology (NASDAQ:AMKR) Shares Gap Up – Should You Buy?

Amkor Technology, Inc. (NASDAQ:AMKR) gapped up before the market opened on Tuesday . The stock had previously closed at $62.56, but opened at $67.06. Amkor Technology shares last traded at $65.2640, with a volume of 299,117 shares traded.

Analysts Set New Price Targets

AMKR has been the subject of several research analyst reports. UBS Group restated a “neutral” rating and set a $80.00 price objective on shares of Amkor Technology in a research report on Tuesday, May 26th. Needham & Company LLC raised their target price on Amkor Technology from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Amkor Technology in a research note on Friday. Morgan Stanley boosted their price target on Amkor Technology from $45.00 to $69.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Finally, B. Riley Financial upped their price objective on Amkor Technology from $70.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $69.88.

Amkor Technology Price Performance

The business’s 50-day simple moving average is $73.89 and its two-hundred day simple moving average is $60.09. The stock has a market cap of $16.43 billion, a price-to-earnings ratio of 37.98 and a beta of 2.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.74.

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

Amkor Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd were issued a $0.0835 dividend. This represents a $0.33 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. Amkor Technology’s dividend payout ratio is presently 18.86%.

Insider Transactions at Amkor Technology

In other news, Director Guillaume Marie Jean Rutten sold 50,000 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $74.28, for a total transaction of $3,714,000.00. Following the sale, the director directly owned 502,558 shares in the company, valued at approximately $37,330,008.24. The trade was a 9.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Roger Anthony Carolin sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $76.24, for a total value of $1,524,800.00. Following the completion of the transaction, the director directly owned 94,409 shares of the company’s stock, valued at $7,197,742.16. This represents a 17.48% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 114,000 shares of company stock valued at $8,631,450. 26.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amkor Technology

A number of institutional investors have recently added to or reduced their stakes in AMKR. Royal Bank of Canada increased its stake in shares of Amkor Technology by 100.6% in the first quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company’s stock valued at $349,000 after buying an additional 3,454,012 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Amkor Technology by 204.5% in the fourth quarter. Fisher Asset Management LLC now owns 2,095,027 shares of the semiconductor company’s stock worth $82,712,000 after acquiring an additional 1,407,109 shares during the period. Norges Bank acquired a new position in shares of Amkor Technology in the fourth quarter worth approximately $53,702,000. Arrowstreet Capital Limited Partnership boosted its holdings in Amkor Technology by 305.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,574,607 shares of the semiconductor company’s stock valued at $44,719,000 after acquiring an additional 1,186,313 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Amkor Technology by 38.3% in the second quarter. AQR Capital Management LLC now owns 3,558,040 shares of the semiconductor company’s stock valued at $74,541,000 after acquiring an additional 985,727 shares during the last quarter. 42.76% of the stock is owned by institutional investors.

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.