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

Amkor Technology, Inc. (NASDAQ:AMKR) 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.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in 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. B. Riley Financial increased their price objective on shares of Amkor Technology from $70.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. The Goldman Sachs Group lifted their target price on shares of Amkor Technology from $43.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Morgan Stanley upped their price target on Amkor Technology from $45.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Finally, Needham & Company LLC raised their price target on Amkor Technology from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Amkor Technology has a consensus rating of “Hold” and an average target price of $69.88.

Amkor Technology Price Performance

The company’s 50-day simple moving average is $75.02 and its 200 day simple moving average is $58.61. The company has a market cap of $17.97 billion, a PE ratio of 40.86 and a beta of 2.20. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.74 and a current ratio of 2.01.

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

Amkor Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd were given a dividend of $0.0835 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.5%. Amkor Technology’s payout ratio is currently 18.86%.

Insider Transactions at Amkor Technology

In other news, Director Gil C. Tily sold 15,000 shares of the firm’s stock in a transaction 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 directly owned 108,806 shares in the company, valued at approximately $8,410,703.80. This trade represents a 12.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Megan Faust sold 1,000 shares of Amkor Technology stock in a transaction 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 sale, the chief financial officer directly owned 132,138 shares of the company’s stock, valued at approximately $9,289,301.40. This trade represents a 0.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 119,000 shares of company stock valued at $8,928,600 over the last quarter. Insiders own 26.40% of the company’s stock.

Institutional Trading of Amkor Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of AMKR. Fisher Asset Management LLC boosted its holdings in Amkor Technology by 204.5% in the fourth 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 in the last quarter. UBS Group AG raised its holdings in Amkor Technology by 205.5% during the fourth quarter. UBS Group AG now owns 1,254,658 shares of the semiconductor company’s stock worth $49,534,000 after purchasing an additional 843,983 shares in the last quarter. Black Swift Group LLC purchased a new stake in shares of Amkor Technology during the 4th quarter worth approximately $797,000. GF Fund Management CO. LTD. acquired a new position in shares of Amkor Technology in the 4th quarter valued at $4,868,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Amkor Technology in the 4th quarter valued at $841,000. 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.