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

Shares of 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.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group began coverage on shares of Amkor Technology in a report on Thursday, February 29th. They issued a “neutral” rating and a $32.00 price target for the company. Fox Advisors started coverage on shares of Amkor Technology in a report on Thursday, March 14th. They set an “equal weight” rating on the stock. B. Riley increased their price target on shares of Amkor Technology from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Finally, Needham & Company LLC began coverage on shares of Amkor Technology in a report on Tuesday. They issued a “buy” rating and a $40.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Amkor Technology presently has a consensus rating of “Moderate Buy” and an average target price of $34.33.

Amkor Technology Price Performance

The firm has a market cap of $8.02 billion, a P/E ratio of 22.76 and a beta of 1.96. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.31 and a quick ratio of 2.02. The company’s 50-day moving average is $31.65 and its two-hundred day moving average is $28.87.

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

Amkor Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were given a $0.079 dividend. The ex-dividend date was Monday, March 11th. This represents a $0.32 dividend on an annualized basis and a yield of 0.97%. Amkor Technology’s dividend payout ratio is currently 21.23%.

Insider Transactions at Amkor Technology

In other news, CFO Megan Faust sold 2,700 shares of the stock in a transaction dated Friday, January 19th. The stock was 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 owns 35,394 shares of the company’s stock, valued at $1,132,608. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Megan Faust sold 2,700 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $31.23, for a total value of $780,750.00. Following the completion of the transaction, the chief executive officer now owns 124,476 shares in the company, valued at approximately $3,887,385.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,200 shares of company stock worth $1,801,870. Corporate insiders own 53.30% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

Hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. boosted its holdings in Amkor Technology by 1,757.9% in the 2nd quarter. Alliancebernstein L.P. now owns 4,182,333 shares of the semiconductor company’s stock valued at $124,424,000 after purchasing an additional 3,957,221 shares during the period. First Trust Advisors LP increased its stake in Amkor Technology by 192.4% in the 1st quarter. First Trust Advisors LP now owns 2,129,215 shares of the semiconductor company’s stock worth $55,402,000 after acquiring an additional 1,401,109 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Amkor Technology by 10.4% in the 3rd quarter. Vanguard Group Inc. now owns 13,797,154 shares of the semiconductor company’s stock valued at $311,816,000 after acquiring an additional 1,300,745 shares in the last quarter. Norges Bank bought a new position in shares of Amkor Technology in the fourth quarter worth approximately $39,224,000. Finally, Ameriprise Financial Inc. lifted its position in Amkor Technology by 309.1% during the third quarter. Ameriprise Financial Inc. now owns 1,478,046 shares of the semiconductor company’s stock valued at $33,404,000 after purchasing an additional 1,116,729 shares during the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

About Amkor Technology

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.