Shares of Amkor Technology, Inc. (NASDAQ:AMKR – Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $66.91, but opened at $71.43. Amkor Technology shares last traded at $73.0740, with a volume of 788,570 shares changing hands.
Analysts Set New Price Targets
Several equities analysts have recently commented on the stock. Wall Street Zen cut shares of Amkor Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 21st. Morgan Stanley lifted their price objective on shares of Amkor Technology from $45.00 to $69.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Melius Research upgraded shares of Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Monday, April 6th. UBS Group restated a “neutral” rating and set a $80.00 target price on shares of Amkor Technology in a research note on Tuesday, May 26th. Finally, 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. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $69.88.
Read Our Latest Research Report on AMKR
Amkor Technology Trading Down 2.3%
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. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the company earned $0.09 EPS. Amkor Technology’s revenue was up 27.5% compared to the same quarter last year. As a group, analysts expect that Amkor Technology, Inc. will post 2.08 EPS for the current year.
Amkor Technology Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd were given a $0.0835 dividend. The ex-dividend date 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 currently 18.86%.
Insider Activity
In other news, Director Gil C. Tily sold 15,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $77.30, for a total transaction of $1,159,500.00. Following the sale, the director directly 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. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Guillaume Marie Jean Rutten sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $74.28, for a total value of $3,714,000.00. Following the completion of the transaction, the director directly owned 502,558 shares of the company’s stock, valued at $37,330,008.24. This represents a 9.05% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 119,000 shares of company stock valued at $8,928,600. 26.40% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Amkor Technology
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc lifted its holdings in shares of Amkor Technology by 91.2% during the third quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 447 shares during the period. Smartleaf Asset Management LLC increased its holdings in 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 purchasing an additional 440 shares during the period. Root Financial Partners LLC raised its position in Amkor Technology by 38.8% during the 4th quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 262 shares during the last quarter. CoreCap Advisors LLC raised its position in Amkor Technology by 56.4% during the 2nd quarter. CoreCap Advisors LLC now owns 438 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 158 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in Amkor Technology by 61.8% during the 1st quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company’s stock worth $40,000 after buying an additional 854 shares during the period. 42.76% of the stock is currently owned by institutional investors and hedge funds.
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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