Amkor Technology (NASDAQ:AMKR) Shares Gap Up Following Analyst Upgrade

Amkor Technology, Inc. (NASDAQ:AMKR) shares gapped up before the market opened on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock had previously closed at $62.56, but opened at $67.06. Amkor Technology shares last traded at $65.2640, with a volume of 299,117 shares traded.

Several other equities research analysts also recently commented on the company. Melius Research upgraded Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Monday, April 6th. Morgan Stanley upped their price target on Amkor Technology from $45.00 to $69.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. B. Riley Financial increased their price objective on shares of Amkor Technology from $70.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, June 25th. The Goldman Sachs Group lifted their price objective on shares of Amkor Technology from $43.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Finally, UBS Group reissued a “neutral” rating and set a $80.00 target price on shares of Amkor Technology in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Amkor Technology presently has an average rating of “Moderate Buy” and a consensus target price of $68.00.

Insiders Place Their Bets

In related news, Director Winston J. Churchill sold 7,000 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $76.45, for a total value of $535,150.00. Following the completion of the transaction, the director owned 18,888 shares of the company’s stock, valued at approximately $1,443,987.60. This represents a 27.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Roger Anthony Carolin sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $76.24, for a total value of $1,524,800.00. Following the sale, the director owned 94,409 shares of the company’s stock, valued at approximately $7,197,742.16. This trade represents a 17.48% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 114,000 shares of company stock valued at $8,631,450. Insiders own 26.40% of the company’s stock.

Institutional Trading of Amkor Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc boosted its stake in Amkor Technology by 91.2% during the 3rd quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 447 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Amkor Technology by 180.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 440 shares during the last quarter. Root Financial Partners LLC raised its stake in shares of Amkor Technology by 38.8% in the 4th quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 262 shares in the last quarter. CoreCap Advisors LLC raised its stake in shares of Amkor Technology by 56.4% in the 2nd quarter. CoreCap Advisors LLC now owns 438 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 158 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position 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 worth $40,000 after purchasing an additional 854 shares during the last quarter. Institutional investors own 42.76% of the company’s stock.

Amkor Technology Stock Up 0.4%

The firm has a market cap of $16.60 billion, a P/E ratio of 38.27 and a beta of 2.20. The firm’s 50-day moving average price is $73.60 and its 200 day moving average price is $60.48. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.74.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the company earned $0.09 earnings per share. Amkor Technology’s quarterly revenue was up 27.5% on a year-over-year basis. On average, equities research analysts expect that Amkor Technology, Inc. will post 2.08 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd were issued a $0.0835 dividend. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Wednesday, June 3rd. Amkor Technology’s payout ratio is 18.86%.

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.