Amkor Technology (NASDAQ:AMKR) Shares Gap Up – Time to Buy?

Amkor Technology, Inc. (NASDAQ:AMKR)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $86.55, but opened at $91.00. Amkor Technology shares last traded at $90.7220, with a volume of 1,410,829 shares.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Morgan Stanley upped their target price on Amkor Technology from $45.00 to $69.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. UBS Group reaffirmed a “neutral” rating and set a $80.00 price target on shares of Amkor Technology in a research report on Tuesday, May 26th. Wall Street Zen cut shares of Amkor Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Amkor Technology in a research report on Monday, April 20th. Finally, The Goldman Sachs Group boosted their price objective on shares of Amkor Technology from $43.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $67.38.

Amkor Technology Price Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.74 and a current ratio of 2.01. The firm has a market capitalization of $22.42 billion, a price-to-earnings ratio of 51.69 and a beta of 2.25. The business has a fifty day moving average of $71.18 and a two-hundred day moving average of $55.02.

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

Amkor Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd will be issued a $0.0835 dividend. This represents a $0.33 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, June 3rd. Amkor Technology’s dividend payout ratio is currently 18.86%.

Insider Activity

In other news, CFO Megan Faust sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $70.30, for a total transaction of $70,300.00. Following the transaction, the chief financial officer owned 132,138 shares in the company, valued at approximately $9,289,301.40. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Guillaume Marie Jean Rutten sold 50,000 shares of Amkor Technology stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $74.28, for a total value of $3,714,000.00. Following the sale, the director directly owned 502,558 shares of the company’s stock, valued at approximately $37,330,008.24. The trade was a 9.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 119,000 shares of company stock valued at $8,928,600. Company insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its position in shares of Amkor Technology by 180.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 440 shares during the period. Root Financial Partners LLC increased its position in Amkor Technology by 38.8% during the fourth quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 262 shares during the period. IFP Advisors Inc raised its stake in Amkor Technology by 91.2% in the 3rd quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 447 shares in the last quarter. Hollencrest Capital Management acquired a new stake in Amkor Technology in the 1st quarter worth about $45,000. Finally, State of Wyoming acquired a new position in shares of Amkor Technology during the 4th quarter worth approximately $41,000. 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.