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

Amkor Technology, Inc. (NASDAQ:AMKR)’s stock price gapped up prior to trading 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 changing hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMKR. Needham & Company LLC began coverage on shares of Amkor Technology in a research report on Tuesday. They issued a “buy” rating and a $40.00 target price for the company. The Goldman Sachs Group began coverage on shares of Amkor Technology in a research report on Thursday, February 29th. They issued a “neutral” rating and a $32.00 target price for the company. Finally, Fox Advisors began coverage on shares of Amkor Technology in a research report on Thursday, March 14th. They issued an “equal weight” rating for the company. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.33.

Amkor Technology Stock Down 4.0 %

The company has a market capitalization of $7.97 billion, a P/E ratio of 22.20 and a beta of 1.96. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.02 and a current ratio of 2.31. The firm’s fifty day moving average is $31.68 and its 200-day moving average is $28.97.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings results on Monday, February 12th. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the firm posted $0.67 EPS. The firm’s revenue was down 8.1% on a year-over-year basis. As a group, equities research analysts predict that Amkor Technology, Inc. will post 1.63 EPS for the current year.

Amkor Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were issued a dividend of $0.079 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Monday, March 11th. Amkor Technology’s payout ratio is 21.23%.

Insiders Place Their Bets

In other Amkor Technology news, CFO Megan Faust sold 2,800 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $31.09, for a total transaction of $87,052.00. Following the sale, the chief financial officer now directly owns 53,023 shares of the company’s stock, valued at approximately $1,648,485.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $31.23, for a total transaction of $780,750.00. Following the completion of the sale, the chief executive officer now directly owns 124,476 shares in the company, valued at $3,887,385.48. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Megan Faust sold 2,800 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $31.09, for a total transaction of $87,052.00. Following the sale, the chief financial officer now owns 53,023 shares of the company’s stock, valued at $1,648,485.07. The disclosure for this sale can be found here. Insiders have sold 58,200 shares of company stock valued at $1,801,870 in the last ninety days. 53.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amkor Technology

Several large investors have recently modified their holdings of AMKR. Alliancebernstein L.P. increased its position in shares of Amkor Technology by 1,757.9% during the second quarter. Alliancebernstein L.P. now owns 4,182,333 shares of the semiconductor company’s stock worth $124,424,000 after buying an additional 3,957,221 shares during the period. First Trust Advisors LP increased its position in shares of Amkor Technology by 192.4% during the first quarter. First Trust Advisors LP now owns 2,129,215 shares of the semiconductor company’s stock worth $55,402,000 after buying an additional 1,401,109 shares during the period. Vanguard Group Inc. increased its position in shares of Amkor Technology by 10.4% during the third quarter. Vanguard Group Inc. now owns 13,797,154 shares of the semiconductor company’s stock worth $311,816,000 after buying an additional 1,300,745 shares during the period. Norges Bank acquired a new stake in shares of Amkor Technology during the fourth quarter worth $39,224,000. Finally, Ameriprise Financial Inc. increased its position in shares of Amkor Technology by 309.1% during the third quarter. Ameriprise Financial Inc. now owns 1,478,046 shares of the semiconductor company’s stock worth $33,404,000 after buying an additional 1,116,729 shares during the period. 42.76% of the stock is currently owned by institutional investors and hedge funds.

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.