Amkor Technology (NASDAQ:AMKR) Stock Jumps 10.8% – Should You Buy?

Amkor Technology, Inc. (NASDAQ:AMKR)’s share price was up 10.8% during mid-day trading on Wednesday. The stock traded as high as $37.63 and last traded at $38.2080. 1,323,030 shares were traded during trading, a decline of 73% from the average daily volume of 4,914,892 shares. The stock had previously closed at $34.47.

Analyst Ratings Changes

Several research firms have commented on AMKR. The Goldman Sachs Group set a $56.00 price target on shares of Amkor Technology in a report on Tuesday, October 27th. Morgan Stanley reduced their price objective on Amkor Technology from $70.00 to $63.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 27th. Zacks Research cut Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Wall Street Zen downgraded Amkor Technology from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Finally, Bank of America assumed coverage on Amkor Technology in a report on Thursday, August 27th. They set a “buy” rating and a $70.00 target price on the stock. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Amkor Technology presently has a consensus rating of “Hold” and an average price target of $62.12.

Amkor Technology Stock Performance

The firm’s 50 day moving average price is $45.98 and its 200-day moving average price is $56.52. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.89 and a current ratio of 2.17. The firm has a market capitalization of $9.68 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 0.44 and a beta of 2.39.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings results on Monday, October 26th. The semiconductor company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.02). The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Amkor Technology had a net margin of 8.30% and a return on equity of 13.32%. Amkor Technology’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. On average, research analysts expect that Amkor Technology, Inc. will post 2.50 EPS for the current year.

Insider Activity at Amkor Technology

In related news, EVP Mark N. Rogers sold 5,000 shares of Amkor Technology stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $59.78, for a total value of $298,900.00. Following the sale, the executive vice president directly owned 38,904 shares in the company, valued at approximately $2,325,681.12. The trade was a 11.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas A. Alexander sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the sale, the director owned 29,109 shares of the company’s stock, valued at approximately $1,600,995. This trade represents a 14.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 13,000 shares of company stock valued at $704,870. 26.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. CoreCap Advisors LLC boosted its stake 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. Clearstead Trust LLC purchased a new position in shares of Amkor Technology in the second quarter worth about $43,000. Ceredex Value Advisors LLC purchased a new position in shares of Amkor Technology in the second quarter worth about $47,000. Solstein Capital LLC purchased a new stake in Amkor Technology during the 2nd quarter valued at about $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Amkor Technology during the 2nd quarter valued at about $54,000. 42.76% of the stock is owned by institutional investors and hedge funds.

Amkor Technology Company Profile

Amkor Technology is a provider of outsourced semiconductor packaging and test services. It works with semiconductor companies to assemble and test integrated circuits before they are incorporated into electronic products. Its services include advanced packaging, wafer bumping, flip-chip packaging, wafer-level packaging, system-in-package solutions, and semiconductor testing. These technologies support applications in markets such as communications, automotive, computing, and consumer electronics.