Amkor Technology (NASDAQ:AMKR) Shares Up 9.7% – Here’s What Happened
by Doug Wharley · The Cerbat GemAmkor Technology, Inc. (NASDAQ:AMKR – Get Free Report)’s stock price was up 9.7% during trading on Tuesday . The stock traded as high as $75.79 and last traded at $74.9070. Approximately 745,466 shares changed hands during trading, a decline of 84% from the average daily volume of 4,598,904 shares. The stock had previously closed at $68.29.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on AMKR. Melius Research raised Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Monday, April 6th. Needham & Company LLC boosted their price target on Amkor Technology from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Zacks Research cut Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. UBS Group reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Amkor Technology in a research report on Tuesday, May 26th. Finally, Wall Street Zen cut Amkor Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 21st. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $67.38.
Check Out Our Latest Stock Report on AMKR
Amkor Technology Trading Up 1.7%
The company has a market capitalization of $17.21 billion, a P/E ratio of 39.31 and a beta of 2.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.74. The firm has a fifty day moving average price of $65.52 and a 200-day moving average price of $52.34.
Amkor Technology (NASDAQ:AMKR – Get Free Report) last released its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.23 by $0.10. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.63 billion. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. Amkor Technology’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same period last year, the firm earned $0.09 EPS. On average, equities research analysts anticipate that Amkor Technology, Inc. will post 2.08 earnings per share for the current year.
Amkor Technology Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.0835 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $0.33 annualized dividend and a dividend yield of 0.5%. Amkor Technology’s dividend payout ratio is currently 18.86%.
Insider Activity at Amkor Technology
In other news, Director Douglas A. Alexander sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the transaction, the director owned 29,109 shares of the company’s stock, valued at approximately $2,229,167.22. The trade was a 14.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Guillaume Marie Jean Rutten sold 50,000 shares of the stock in a transaction on Friday, May 8th. The shares were 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 in the company, valued at approximately $37,330,008.24. This represents a 9.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 113,000 shares of company stock valued at $8,258,950 in the last ninety days. Insiders own 26.40% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Fisher Asset Management LLC raised its position in Amkor Technology by 204.5% in the 4th quarter. Fisher Asset Management LLC now owns 2,095,027 shares of the semiconductor company’s stock worth $82,712,000 after purchasing an additional 1,407,109 shares during the period. UBS Group AG boosted its stake in Amkor Technology by 205.5% in the fourth quarter. UBS Group AG now owns 1,254,658 shares of the semiconductor company’s stock valued at $49,534,000 after acquiring an additional 843,983 shares in the last quarter. Black Swift Group LLC acquired a new stake in Amkor Technology in the fourth quarter valued at approximately $797,000. GF Fund Management CO. LTD. purchased a new position in shares of Amkor Technology in the fourth quarter worth $4,868,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Amkor Technology during the fourth quarter worth $841,000. 42.76% of the stock is owned by institutional investors.
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.