Amkor Technology (NASDAQ:AMKR) Shares Up 10.7% – Should You Buy?

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) shot up 10.7% during trading on Tuesday . The stock traded as high as $93.28 and last traded at $94.5790. 2,216,062 shares traded hands during trading, a decline of 53% from the average session volume of 4,683,960 shares. The stock had previously closed at $85.44.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AMKR. Morgan Stanley increased their target price on Amkor Technology from $45.00 to $69.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. The Goldman Sachs Group increased their target price on Amkor Technology from $43.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Wall Street Zen cut Amkor Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 21st. UBS Group reaffirmed a “neutral” rating and set a $80.00 price target on shares of Amkor Technology in a research note on Tuesday, May 26th. Finally, B. Riley Financial upped their price target on Amkor Technology from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Amkor Technology currently has an average rating of “Hold” and an average price target of $67.38.

Amkor Technology Stock Up 7.4%

The business’s fifty day simple moving average is $68.74 and its 200 day simple moving average is $53.92. 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 stock has a market cap of $22.75 billion, a price-to-earnings ratio of 52.26 and a beta of 2.25.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.10. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The company’s quarterly revenue was up 27.5% on a year-over-year basis. Equities analysts forecast 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 will be paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd will be given a $0.0835 dividend. This represents a $0.33 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, June 3rd. Amkor Technology’s payout ratio is currently 18.86%.

Insiders Place Their Bets

In related news, Director Douglas A. Alexander sold 5,000 shares of Amkor Technology stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the sale, the director owned 29,109 shares of the company’s stock, valued at approximately $2,229,167.22. This trade represents a 14.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Megan Faust sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $70.30, for a total value of $70,300.00. Following the transaction, the chief financial officer directly owned 132,138 shares in the company, valued at $9,289,301.40. This trade represents a 0.75% decrease in their position. 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 sold a total of 109,000 shares of company stock worth $8,106,550 in the last ninety days. 26.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC raised its holdings in shares of Amkor Technology by 23.7% in the 1st quarter. Parallel Advisors LLC now owns 7,348 shares of the semiconductor company’s stock valued at $331,000 after purchasing an additional 1,410 shares during the period. Wellington Grp LLC bought a new stake in shares of Amkor Technology in the 1st quarter valued at about $1,824,000. Bull Harbor Capital LLC bought a new stake in shares of Amkor Technology in the 1st quarter valued at about $603,000. Amundi raised its holdings in shares of Amkor Technology by 3,546.6% in the 1st quarter. Amundi now owns 263,868 shares of the semiconductor company’s stock valued at $11,882,000 after purchasing an additional 256,632 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Amkor Technology by 28.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,311 shares of the semiconductor company’s stock valued at $194,000 after purchasing an additional 943 shares during the period. Institutional investors and hedge funds 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.