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

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. UBS Group raised Amkor Technology from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $80.00 to $90.00 in a research report on Friday, July 24th. Weiss Ratings downgraded Amkor Technology from a “hold (c+)” rating to a “sell (d+)” rating in a report on Wednesday, October 28th. The Goldman Sachs Group set a $56.00 price target on Amkor Technology in a research report on Tuesday, October 27th. Morgan Stanley dropped their price target on Amkor Technology from $70.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 27th. Finally, B. Riley Financial cut their price objective on Amkor Technology from $41.00 to $38.00 and set a “neutral” rating on the stock in a report on Monday. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Amkor Technology currently has an average rating of “Hold” and an average target price of $62.12.

Amkor Technology Trading Down 2.6%

The company’s 50-day moving average is $45.63 and its 200 day moving average is $56.39. The company has a current ratio of 2.17, a quick ratio of 1.89 and a debt-to-equity ratio of 0.48. The firm has a market cap of $9.20 billion, a PE ratio of 14.97, a P/E/G ratio of 0.48 and a beta of 2.39.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data 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). Amkor Technology had a return on equity of 13.32% and a net margin of 8.30%. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. As a group, sell-side analysts predict that Amkor Technology, Inc. will post 2.50 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Mark Rogers sold 5,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $59.78, for a total value of $298,900.00. Following the completion of the sale, the executive vice president owned 38,904 shares of the company’s stock, valued at $2,325,681.12. This trade represents a 11.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas Alexander sold 5,000 shares of Amkor Technology stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $55.00, for a total value of $275,000.00. Following the transaction, the director owned 29,109 shares in the company, valued at $1,600,995. This represents a 14.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 14,000 shares of company stock worth $739,870. 26.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amkor Technology

Institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. increased its holdings in shares of Amkor Technology by 12.5% in the 1st quarter. Bessemer Group Inc. now owns 1,216 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 135 shares during the period. Arista Wealth Management LLC boosted its holdings in shares of Amkor Technology by 1.2% during the second quarter. Arista Wealth Management LLC now owns 13,642 shares of the semiconductor company’s stock worth $1,176,000 after purchasing an additional 157 shares during the period. CoreCap Advisors LLC boosted its holdings in shares of Amkor Technology by 56.4% during the second 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 period. Arizona State Retirement System boosted its holdings in shares of Amkor Technology by 0.7% during the second quarter. Arizona State Retirement System now owns 34,189 shares of the semiconductor company’s stock worth $2,948,000 after purchasing an additional 240 shares during the period. Finally, Wedbush Securities Inc. grew its position in Amkor Technology by 6.7% during the third quarter. Wedbush Securities Inc. now owns 4,395 shares of the semiconductor company’s stock valued at $230,000 after purchasing an additional 275 shares in the last quarter. 42.76% of the stock is currently owned by institutional investors and hedge funds.

About Amkor Technology

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.