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

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 trading hands.

Analyst Ratings Changes

Several equities research analysts have recently commented on AMKR shares. Wall Street Zen cut Amkor Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 21st. 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 note on Monday, April 6th. UBS Group restated a “neutral” rating and set a $80.00 price objective on shares of Amkor Technology in a research report on Tuesday, May 26th. Needham & Company LLC lifted their target price on shares of Amkor Technology from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Finally, Morgan Stanley boosted their price target on shares of Amkor Technology from $45.00 to $69.00 and gave the stock an “equal weight” 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. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $67.38.

Amkor Technology Price Performance

The company has a quick ratio of 1.74, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The company has a market cap of $18.88 billion, a price-to-earnings ratio of 43.53 and a beta of 2.25. The company has a fifty day simple moving average of $63.12 and a two-hundred day simple moving average of $50.95.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.10. The firm 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 firm’s revenue was up 27.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 EPS. On average, equities research analysts anticipate 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 dividend of $0.0835 per share. 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 payout ratio is currently 18.86%.

Insider Activity

In other Amkor Technology news, Director Gil C. Tily sold 15,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $77.30, for a total transaction of $1,159,500.00. Following the sale, the director owned 108,806 shares in the company, valued at approximately $8,410,703.80. This represents a 12.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Guillaume Marie Jean Rutten sold 50,000 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $74.28, for a total value of $3,714,000.00. Following the completion of the transaction, the director directly owned 502,558 shares of the company’s stock, valued at approximately $37,330,008.24. This trade represents a 9.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 113,000 shares of company stock worth $8,258,950 in the last quarter. 26.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amkor Technology

Several hedge funds have recently modified their holdings of AMKR. Royal Bank of Canada grew its holdings in shares of Amkor Technology by 100.6% during the first quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company’s stock worth $349,000 after buying an additional 3,454,012 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Amkor Technology by 61.8% during the first quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 854 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Amkor Technology by 913.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,509 shares of the semiconductor company’s stock worth $136,000 after acquiring an additional 6,768 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Amkor Technology by 73.4% during the first quarter. Goldman Sachs Group Inc. now owns 524,713 shares of the semiconductor company’s stock worth $9,476,000 after acquiring an additional 222,107 shares during the last quarter. Finally, Caxton Associates LLP acquired a new position in Amkor Technology in the 1st quarter valued at $271,000. 42.76% of the stock is owned by institutional investors and hedge funds.

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.