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Amkor Technology (NASDAQ:AMKR) Shares Gap Up After Strong Earnings

Amkor Technology logo with Computer and Technology background

Key Points

  • Amkor Technology shares surged from $21.23 to $24.52 following a quarterly earnings report that exceeded expectations, reporting $0.22 EPS compared to an estimate of $0.16.
  • The company also announced a quarterly dividend of $0.0827 per share, reflecting a 1.27% dividend yield based on an annualized dividend of $0.33.
  • Amkor Technology's stock receives a consensus rating of "Hold" from analysts, with a price target averaging $27.25, amidst mixed ratings from various research firms.
  • MarketBeat previews top five stocks to own in August.
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Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report)'s share price gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $21.23, but opened at $24.52. Amkor Technology shares last traded at $26.28, with a volume of 1,566,246 shares traded.

The semiconductor company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.42 billion. Amkor Technology had a return on equity of 7.23% and a net margin of 4.80%. Amkor Technology's revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $0.27 EPS.

Amkor Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Thursday, June 5th were issued a $0.0827 dividend. This represents a $0.33 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Thursday, June 5th. Amkor Technology's payout ratio is currently 26.83%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AMKR. Needham & Company LLC raised their target price on Amkor Technology from $22.00 to $28.00 and gave the company a "buy" rating in a research note on Tuesday. DA Davidson reduced their target price on shares of Amkor Technology from $36.00 to $30.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. KeyCorp reissued a "sector weight" rating on shares of Amkor Technology in a report on Thursday, April 17th. JPMorgan Chase & Co. lifted their target price on Amkor Technology from $25.00 to $27.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, B. Riley upped their price target on Amkor Technology from $18.00 to $24.00 and gave the company a "neutral" rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $26.44.

Check Out Our Latest Research Report on Amkor Technology

Hedge Funds Weigh In On Amkor Technology

Institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new position in Amkor Technology in the 1st quarter valued at about $27,000. UMB Bank n.a. increased its stake in shares of Amkor Technology by 677.0% during the first quarter. UMB Bank n.a. now owns 1,756 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 1,530 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in Amkor Technology by 416.8% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,602 shares of the semiconductor company's stock worth $34,000 after purchasing an additional 1,292 shares during the last quarter. Allworth Financial LP boosted its stake in Amkor Technology by 166.3% in the 1st quarter. Allworth Financial LP now owns 2,173 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 1,357 shares during the period. Finally, Bessemer Group Inc. grew its holdings in Amkor Technology by 421.0% in the 4th quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company's stock valued at $39,000 after buying an additional 1,242 shares in the last quarter. Institutional investors and hedge funds own 42.76% of the company's stock.

Amkor Technology Stock Down 4.5%

The stock has a fifty day moving average price of $20.67 and a two-hundred day moving average price of $20.41. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 19.46 and a beta of 1.85. The company has a quick ratio of 1.83, a current ratio of 1.89 and a debt-to-equity ratio of 0.28.

About Amkor Technology

(Get Free Report)

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.

See Also

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