Amkor Technology (NASDAQ:AMKR) Shares Gap Up – Still a Buy?

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) gapped up prior to trading on Wednesday . The stock had previously closed at $74.74, but opened at $78.33. Amkor Technology shares last traded at $75.23, with a volume of 1,358,934 shares.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Zacks Research cut shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. UBS Group reissued a “neutral” rating and issued a $80.00 price target on shares of Amkor Technology in a research note on Tuesday, May 26th. Melius Research raised shares of Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Monday, April 6th. 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. Finally, B. Riley Financial boosted their price target on shares of Amkor Technology from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Amkor Technology has a consensus rating of “Hold” and a consensus target price of $67.38.

Amkor Technology Trading Down 1.8%

The firm has a market cap of $18.30 billion, a PE ratio of 42.18 and a beta of 2.25. The stock’s 50 day simple moving average is $64.76 and its 200 day simple moving average is $51.83. 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 announced its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the company earned $0.09 EPS. The firm’s revenue was up 27.5% on a year-over-year basis. On average, sell-side analysts forecast that Amkor Technology, Inc. will post 2.08 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

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. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.5%. Amkor Technology’s dividend payout ratio is 18.86%.

Insider Buying and Selling

In other news, CFO Megan Faust sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $64.60, for a total value of $64,600.00. Following the completion of the sale, the chief financial officer owned 133,138 shares of the company’s stock, valued at approximately $8,600,714.80. This represents a 0.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gil C. Tily sold 15,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $77.30, for a total transaction 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 $8,410,703.80. This trade represents a 12.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 113,000 shares of company stock worth $8,258,950 in the last ninety days. 26.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amkor Technology

Institutional investors have recently made changes to their positions in the business. Fisher Asset Management LLC raised 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 during the last quarter. Allianz Asset Management GmbH raised its holdings in Amkor Technology by 47.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 519,461 shares of the semiconductor company’s stock valued at $14,753,000 after buying an additional 166,091 shares during the last quarter. UBS Group AG raised its holdings in Amkor Technology by 205.5% during the 4th quarter. UBS Group AG now owns 1,254,658 shares of the semiconductor company’s stock valued at $49,534,000 after buying an additional 843,983 shares during the last quarter. Black Swift Group LLC bought a new stake in Amkor Technology during the 4th quarter valued at $797,000. Finally, GF Fund Management CO. LTD. bought a new stake in Amkor Technology during the 4th quarter valued at $4,868,000. Hedge funds and other institutional investors own 42.76% of the company’s stock.

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.