Shares of Amkor Technology, Inc. (NASDAQ:AMKR – Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $70.47, but opened at $67.34. Amkor Technology shares last traded at $67.1620, with a volume of 356,981 shares trading hands.
Analyst Upgrades and Downgrades
A number of brokerages have commented on AMKR. 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. Morgan Stanley increased their price target on shares of Amkor Technology from $45.00 to $69.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. UBS Group reiterated a “neutral” rating and issued a $80.00 price target on shares of Amkor Technology in a research report on Tuesday, May 26th. Melius Research raised Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Monday, April 6th. Finally, The Goldman Sachs Group upped their price objective on Amkor Technology from $43.00 to $65.00 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, the stock has an average rating of “Hold” and an average target price of $69.88.
Get Our Latest Stock Analysis on Amkor Technology
Amkor Technology Price Performance
Amkor Technology (NASDAQ:AMKR – Get Free Report) last announced its earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.10. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.63 billion. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. The business’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. Equities research analysts forecast that Amkor Technology, Inc. will post 2.08 earnings per share for the current fiscal year.
Amkor Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd were paid a $0.0835 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.33 annualized dividend and a yield of 0.5%. Amkor Technology’s dividend payout ratio (DPR) is presently 18.86%.
Insider Activity
In other news, Director Winston J. Churchill sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $76.45, for a total transaction of $535,150.00. Following the transaction, the director owned 18,888 shares of the company’s stock, valued at approximately $1,443,987.60. This represents a 27.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gil C. Tily sold 15,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $77.30, for a total value of $1,159,500.00. Following the completion of the sale, the director owned 108,806 shares in the company, valued at approximately $8,410,703.80. The trade was a 12.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 119,000 shares of company stock valued at $8,928,600. 26.40% of the stock is currently owned by corporate insiders.
Institutional Trading of Amkor Technology
A number of large investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its holdings 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 worth $349,000 after purchasing an additional 3,454,012 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Amkor Technology by 204.5% during 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 buying an additional 1,407,109 shares in the last quarter. Norges Bank bought a new stake in Amkor Technology during the 4th quarter valued at about $53,702,000. Arrowstreet Capital Limited Partnership boosted its position in Amkor Technology by 305.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,574,607 shares of the semiconductor company’s stock valued at $44,719,000 after buying an additional 1,186,313 shares during the period. Finally, AQR Capital Management LLC boosted its position in Amkor Technology by 38.3% in the 2nd quarter. AQR Capital Management LLC now owns 3,558,040 shares of the semiconductor company’s stock valued at $74,541,000 after buying an additional 985,727 shares during the period. 42.76% of the stock is owned by hedge funds and other institutional investors.
Amkor Technology Company Profile
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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