Amkor Technology (NASDAQ:AMKR) Shares Gap Up to $31.34

Amkor Technology, Inc. (NASDAQ:AMKR) gapped up before the market opened on Tuesday . The stock had previously closed at $31.34, but opened at $32.30. Amkor Technology shares last traded at $32.59, with a volume of 59,619 shares traded.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AMKR shares. Fox Advisors began coverage on Amkor Technology in a research note on Thursday, March 14th. They set an “equal weight” rating for the company. Needham & Company LLC assumed coverage on Amkor Technology in a research note on Tuesday. They set a “buy” rating and a $40.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of Amkor Technology in a research report on Thursday, February 29th. They issued a “neutral” rating and a $32.00 price target on the stock. Finally, B. Riley lifted their price target on shares of Amkor Technology from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, December 12th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.33.

Amkor Technology Trading Up 4.1 %

The company has a quick ratio of 2.02, a current ratio of 2.31 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $8.02 billion, a price-to-earnings ratio of 22.76 and a beta of 1.96. The firm’s 50 day moving average is $31.65 and its 200 day moving average is $28.87.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, February 12th. The semiconductor company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.68 billion. Amkor Technology had a return on equity of 9.37% and a net margin of 5.53%. Amkor Technology’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter last year, the company posted $0.67 EPS. Equities analysts forecast that Amkor Technology, Inc. will post 1.63 earnings per share for the current year.

Amkor Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were issued a dividend of $0.079 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.97%. Amkor Technology’s dividend payout ratio is 21.23%.

Insider Activity at Amkor Technology

In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $30.63, for a total transaction of $765,750.00. Following the transaction, the chief executive officer now directly owns 123,728 shares in the company, valued at approximately $3,789,788.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $30.63, for a total transaction of $765,750.00. Following the completion of the sale, the chief executive officer now directly owns 123,728 shares in the company, valued at approximately $3,789,788.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Megan Faust sold 2,700 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $32.00, for a total value of $86,400.00. Following the completion of the sale, the chief financial officer now directly owns 35,394 shares of the company’s stock, valued at approximately $1,132,608. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,200 shares of company stock valued at $1,801,870. Corporate insiders own 53.30% of the company’s stock.

Institutional Trading of Amkor Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James & Associates boosted its holdings in Amkor Technology by 4.0% during the first quarter. Raymond James & Associates now owns 79,509 shares of the semiconductor company’s stock valued at $1,727,000 after acquiring an additional 3,030 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Amkor Technology during the 1st quarter worth about $868,000. Bank of New York Mellon Corp boosted its stake in Amkor Technology by 0.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,334,042 shares of the semiconductor company’s stock valued at $28,975,000 after purchasing an additional 10,751 shares during the period. Private Advisor Group LLC acquired a new stake in Amkor Technology in the 1st quarter valued at approximately $330,000. Finally, MetLife Investment Management LLC increased its position in Amkor Technology by 40.3% in the 1st quarter. MetLife Investment Management LLC now owns 117,317 shares of the semiconductor company’s stock worth $2,548,000 after buying an additional 33,685 shares during the period. Institutional investors and hedge funds own 42.76% of the company’s stock.

Amkor Technology Company Profile

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and the Asia Pacific. It offers turnkey packaging and test services, including semiconductor wafer bump, wafer probe, wafer back-grind, package design, packaging, system-level and final test, and drop shipment services; flip chip scale package products for smartphones, tablets, and other mobile consumer electronic devices; flip chip stacked chip scale packages that are used to stack memory digital baseband, and as applications processors in mobile devices; flip-chip ball grid array packages for various networking, storage, computing, automotive, and consumer applications; and memory products for system memory or platform data storage.