Amkor Technology (NASDAQ:AMKR) Shares Gap Up – Should You Buy?

Amkor Technology, Inc. (NASDAQ:AMKR)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $65.75, but opened at $72.00. Amkor Technology shares last traded at $73.06, with a volume of 1,155,505 shares.

Analyst Ratings Changes

Several equities research analysts have recently commented on AMKR shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Amkor Technology in a research report on Monday, April 20th. Needham & Company LLC lifted their price target on shares of Amkor Technology from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. UBS Group reiterated a “neutral” rating and set a $80.00 price target on shares of Amkor Technology in a research report on Tuesday. Zacks Research cut shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Amkor Technology from $32.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $67.38.

Amkor Technology Trading Down 2.2%

The company has a market capitalization of $17.50 billion, a P/E ratio of 40.34 and a beta of 2.29. 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 business’s 50-day moving average price is $61.69 and its two-hundred day moving average price is $50.18.

Amkor Technology (NASDAQ:AMKR) last released 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 business had revenue of $1.68 billion during 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 quarterly revenue was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 EPS. As a group, analysts forecast that Amkor Technology, Inc. will post 2.08 EPS for the current fiscal year.

Amkor Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd will be issued a dividend of $0.0835 per share. This represents a $0.33 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, June 3rd. Amkor Technology’s payout ratio is 18.86%.

Insiders Place Their Bets

In related news, Director Roger Anthony Carolin sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $76.24, for a total transaction of $1,524,800.00. Following the completion of the sale, the director directly owned 94,409 shares of the company’s stock, valued at approximately $7,197,742.16. This represents a 17.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas A. Alexander sold 5,000 shares of Amkor Technology stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the transaction, the director directly owned 29,109 shares in the company, valued at approximately $2,229,167.22. The trade was a 14.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 113,000 shares of company stock worth $8,258,950 in the last three months. 26.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. lifted its stake in Amkor Technology by 72.1% in the third quarter. Bessemer Group Inc. now owns 933 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 391 shares in the last quarter. IFP Advisors Inc lifted its stake in Amkor Technology by 91.2% in the third quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 447 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Amkor Technology by 180.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 440 shares in the last quarter. Root Financial Partners LLC lifted its stake in Amkor Technology by 38.8% in the fourth quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 262 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in Amkor Technology by 61.8% in 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 in the last quarter. Institutional investors own 42.76% of the company’s stock.

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.