Amkor Technology, Inc. (NASDAQ:AMKR – Get Free Report) shares traded up 9.7% on Tuesday . The company traded as high as $75.79 and last traded at $74.9070. 745,466 shares were traded during trading, a decline of 84% from the average session volume of 4,598,904 shares. The stock had previously closed at $68.29.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the stock. B. Riley Financial boosted their target price on shares of Amkor Technology from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Weiss Ratings restated a “hold (c)” rating on shares of Amkor Technology in a research note on Monday, April 20th. UBS Group restated a “neutral” rating and issued a $80.00 target price on shares of Amkor Technology in a research note on Tuesday, May 26th. Needham & Company LLC boosted their target price on shares of Amkor Technology from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Zacks Research downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $67.38.
Read Our Latest Report on Amkor Technology
Amkor Technology Price Performance
Amkor Technology (NASDAQ:AMKR – Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.10. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.Amkor Technology’s revenue was up 27.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 EPS. Sell-side analysts expect that Amkor Technology, Inc. will post 2.08 EPS for the current fiscal year.
Amkor Technology Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd will be paid a $0.0835 dividend. The ex-dividend date of this dividend 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 18.86%.
Insider Buying and Selling
In other news, Director Douglas A. Alexander sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the completion of the sale, the director directly owned 29,109 shares of the company’s stock, valued at $2,229,167.22. This represents a 14.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark N. Rogers sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $71.63, for a total value of $358,150.00. Following the completion of the transaction, the executive vice president owned 38,904 shares of the company’s stock, valued at $2,786,693.52. This represents a 11.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 113,000 shares of company stock worth $8,258,950 over the last quarter. Insiders own 26.40% of the company’s stock.
Hedge Funds Weigh In On Amkor Technology
Institutional investors and hedge funds have recently modified their holdings of the business. Fisher Asset Management LLC grew its position in shares of Amkor Technology by 204.5% in the 4th quarter. Fisher Asset Management LLC now owns 2,095,027 shares of the semiconductor company’s stock valued at $82,712,000 after purchasing an additional 1,407,109 shares during the period. UBS Group AG grew its position in shares of Amkor Technology by 205.5% in the 4th quarter. UBS Group AG now owns 1,254,658 shares of the semiconductor company’s stock valued at $49,534,000 after purchasing an additional 843,983 shares during the period. Black Swift Group LLC acquired a new position in shares of Amkor Technology in the 4th quarter valued at approximately $797,000. GF Fund Management CO. LTD. acquired a new position in shares of Amkor Technology in the 4th quarter valued at approximately $4,868,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Amkor Technology in the 4th quarter valued at approximately $841,000. 42.76% of the stock is currently owned by institutional investors and hedge funds.
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.
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