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

Amkor Technology, Inc. (NASDAQ:AMKRGet Free Report) gapped up prior to trading 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.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMKR. UBS Group reiterated 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 boosted their target price on shares of Amkor Technology from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Melius Research raised shares of Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Monday, April 6th. The Goldman Sachs Group increased their price target on Amkor Technology from $43.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Finally, Morgan Stanley lifted their price objective on Amkor Technology from $45.00 to $69.00 and gave the stock an “equal weight” rating in a research report 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.88.

Get Our Latest Stock Report on AMKR

Amkor Technology Stock Up 6.0%

The company has a market cap of $16.43 billion, a price-to-earnings ratio of 37.98 and a beta of 2.20. The stock’s 50-day moving average is $73.89 and its 200-day moving average is $60.09. The company has a current ratio of 2.01, a quick ratio of 1.74 and a debt-to-equity ratio of 0.28.

Amkor Technology (NASDAQ:AMKRGet Free Report) last posted its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.33 EPS 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 business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the company posted $0.09 earnings per share. The business’s quarterly revenue was up 27.5% on a year-over-year basis. On average, analysts anticipate that Amkor Technology, Inc. will post 2.08 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd were given 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 payout ratio is presently 18.86%.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, Director Guillaume Marie Jean Rutten sold 50,000 shares of the firm’s 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 completion of the sale, the director owned 502,558 shares of the company’s stock, valued at approximately $37,330,008.24. This trade represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gil C. Tily sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $77.30, for a total value of $1,159,500.00. Following the sale, the director owned 108,806 shares of the company’s stock, valued at approximately $8,410,703.80. This represents a 12.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 114,000 shares of company stock worth $8,631,450 in the last quarter. Company insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

A number of large investors have recently modified their holdings of the company. Royal Bank of Canada raised its holdings in Amkor Technology by 100.6% during the first quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company’s stock worth $349,000 after buying an additional 3,454,012 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Amkor Technology by 61.8% during the first quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 854 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Amkor Technology by 913.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,509 shares of the semiconductor company’s stock valued at $136,000 after buying an additional 6,768 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Amkor Technology by 73.4% during the first quarter. Goldman Sachs Group Inc. now owns 524,713 shares of the semiconductor company’s stock worth $9,476,000 after acquiring an additional 222,107 shares in the last quarter. Finally, Caxton Associates LLP bought a new stake in shares of Amkor Technology during the first quarter worth about $271,000. 42.76% of the stock is currently owned by institutional investors.

Amkor Technology Company Profile

(Get Free Report)

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.

Further Reading

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