Amkor Technology (NASDAQ:AMKR) Shares Gap Up - What's Next?

Key Points

• Amkor Technology shares gapped up before the market open, opening at $78.33 after closing at $74.74, and were last trading around $75.23, up about 1.9% on the day.
• The company posted a strong quarterly earnings beat, reporting $0.33 EPS versus $0.23 expected and revenue of $1.68 billion, while revenue rose 27.5% year over year.
• Amkor also announced a quarterly dividend of $0.0835 per share, payable June 23, though recent insider sales and a consensus Hold analyst rating suggest some caution remains.

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $74.74, but opened at $78.33. Amkor Technology shares last traded at $75.23, with a volume of 1,358,934 shares traded.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Amkor Technology in a research note on Monday, April 20th. Wall Street Zen downgraded Amkor Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 21st. Zacks Research cut shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 25th. UBS Group reiterated a "neutral" rating and issued a $80.00 price target on shares of Amkor Technology in a research note on Tuesday, May 26th. Finally, Melius Research upgraded shares of Amkor Technology from a "hold" rating to a "buy" rating and set a $60.00 price target for the company in a report on Monday, April 6th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Amkor Technology presently has a consensus rating of "Hold" and an average price target of $67.38.

Amkor Technology Trading Up 1.9%

The company has a market cap of $18.88 billion, a price-to-earnings ratio of 43.53 and a beta of 2.25. The company has a quick ratio of 1.74, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The business's fifty day simple moving average is $63.12 and its two-hundred day simple moving average is $50.95.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last posted its earnings results on Monday, April 27th. The semiconductor company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.10. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the firm posted $0.09 EPS. The company's revenue was up 27.5% on a year-over-year basis. On average, equities analysts predict that Amkor Technology, Inc. will post 2.08 EPS for the current year.

Amkor Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.4%. Amkor Technology's payout ratio is 18.86%.

Insiders Place Their Bets

In related news, CFO Megan Faust sold 1,000 shares of the company's stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $64.60, for a total value of $64,600.00. Following the completion of the sale, the chief financial officer directly owned 133,138 shares of the company's stock, valued at $8,600,714.80. This represents a 0.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark N. Rogers sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $71.63, for a total value of $358,150.00. Following the transaction, the executive vice president owned 38,904 shares in the company, valued at $2,786,693.52. This represents a 11.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 113,000 shares of company stock worth $8,258,950. Corporate insiders own 26.40% of the company's stock.

Institutional Trading of Amkor Technology

Several institutional investors and hedge funds have recently bought and sold shares of AMKR. Royal Bank of Canada grew its position in Amkor Technology by 100.6% during the 1st quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company's stock worth $349,000 after purchasing an additional 3,454,012 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Amkor Technology by 61.8% during the first quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company's stock worth $40,000 after buying an additional 854 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Amkor Technology by 913.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,509 shares of the semiconductor company's stock worth $136,000 after buying an additional 6,768 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Amkor Technology by 73.4% during the first quarter. Goldman Sachs Group Inc. now owns 524,713 shares of the semiconductor company's stock worth $9,476,000 after buying an additional 222,107 shares during the last quarter. Finally, Caxton Associates LLP acquired a new position in Amkor Technology in the 1st quarter valued at about $271,000. Hedge funds and other 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.

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