Amkor Technology (NASDAQ:AMKR) Shares Gap Up – What’s Next?

Amkor Technology, Inc. (NASDAQ:AMKR)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $86.55, but opened at $91.00. Amkor Technology shares last traded at $90.7220, with a volume of 1,410,829 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AMKR shares. UBS Group restated a “neutral” rating and issued a $80.00 price objective on shares of Amkor Technology in a research report on Tuesday, May 26th. The Goldman Sachs Group lifted their target price on shares of Amkor Technology from $43.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Needham & Company LLC lifted their target price on shares of Amkor Technology from $65.00 to $90.00 and gave the stock a “buy” rating in a research note 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 objective on the stock in a research report on Monday, April 6th. Finally, Zacks Research cut shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Amkor Technology presently has a consensus rating of “Hold” and an average price target of $67.38.

Amkor Technology Trading Up 4.7%

The company has a current ratio of 2.01, a quick ratio of 1.74 and a debt-to-equity ratio of 0.28. The company has a market cap of $22.45 billion, a P/E ratio of 51.73 and a beta of 2.25. The stock’s 50 day moving average is $69.54 and its 200-day moving average is $54.28.

Amkor Technology (NASDAQ:AMKR) last posted its earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share (EPS) 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 analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 EPS. Research analysts anticipate that Amkor Technology, Inc. will post 2.08 earnings per share for the current fiscal year.

Amkor Technology Announces Dividend

The firm also recently disclosed 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. This represents a $0.33 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, June 3rd. Amkor Technology’s dividend payout ratio is 18.86%.

Insider Transactions at Amkor Technology

In related news, Director Gil C. Tily sold 15,000 shares of the 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 completion of the sale, the director directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Guillaume Marie Jean Rutten sold 50,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $74.28, for a total transaction of $3,714,000.00. Following the completion of the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 114,000 shares of company stock worth $8,497,550. 26.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Amkor Technology

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bessemer Group Inc. lifted its position in shares of Amkor Technology by 12.5% during the first quarter. Bessemer Group Inc. now owns 1,216 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 135 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Amkor Technology by 2.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,799 shares of the semiconductor company’s stock worth $387,000 after purchasing an additional 202 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Amkor Technology by 0.6% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 36,221 shares of the semiconductor company’s stock valued at $1,430,000 after acquiring an additional 218 shares during the period. Evolve Private Wealth LLC raised its stake in shares of Amkor Technology by 3.0% during the 1st quarter. Evolve Private Wealth LLC now owns 7,615 shares of the semiconductor company’s stock worth $343,000 after buying an additional 222 shares during the period. Finally, Strs Ohio raised its stake in shares of Amkor Technology by 8.6% during the 1st quarter. Strs Ohio now owns 2,971 shares of the semiconductor company’s stock worth $134,000 after buying an additional 235 shares during the period. 42.76% of the stock is currently owned by institutional investors.

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.