Amkor Technology (NASDAQ:AMKR) Shares Up 9.7% - Here's What Happened

Key Points

• Amkor Technology shares jumped 9.7% on Tuesday, trading as high as $75.79 after closing at $68.29 the prior day, even though volume was far below average.
• Recent earnings beat expectations: the semiconductor company reported $0.33 EPS versus the $0.23 consensus and revenue of $1.68 billion, up 27.5% from a year earlier.
• Analysts turned more positive after the results, with several raising price targets; the stock now has a consensus rating of Hold and a consensus target price of $67.38.

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report)'s share price traded up 9.7% on Tuesday . The stock traded as high as $75.79 and last traded at $74.9070. 745,466 shares were traded during mid-day trading, a decline of 84% from the average session volume of 4,598,904 shares. The stock had previously closed at $68.29.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Amkor Technology from $43.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, April 28th. Needham & Company LLC increased their target price on shares of Amkor Technology from $65.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Melius Research raised shares of Amkor Technology from a "hold" rating to a "buy" rating and set a $60.00 target price for the company in a research report on Monday, April 6th. JPMorgan Chase & Co. increased their target price on shares of Amkor Technology from $32.00 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, February 10th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Amkor Technology in a report on Monday, April 20th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $67.38.

Amkor Technology Stock Up 1.7%

The company has a fifty day moving average of $65.52 and a two-hundred day moving average of $52.34. The company has a market cap of $17.21 billion, a PE ratio of 39.31 and a beta of 2.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.74 and a current ratio of 2.01.

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

Amkor Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd will be given a dividend of $0.0835 per share. This represents a $0.33 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, June 3rd. Amkor Technology's dividend payout ratio (DPR) is currently 18.86%.

Insider Buying and Selling

In related news, CFO Megan Faust sold 1,000 shares of Amkor Technology stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $64.60, for a total transaction of $64,600.00. Following the transaction, the chief financial officer owned 133,138 shares in the company, valued at approximately $8,600,714.80. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark N. Rogers sold 5,000 shares of Amkor Technology stock in a transaction on Monday, May 18th. The shares were sold at an average price of $71.63, for a total value of $358,150.00. Following the completion of the sale, 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. Insiders sold 113,000 shares of company stock valued at $8,258,950 in the last 90 days. Corporate insiders own 26.40% of the company's stock.

Institutional Trading of Amkor Technology

Large investors have recently made changes to their positions in the company. Bessemer Group Inc. raised its stake in Amkor Technology by 72.1% during the 3rd quarter. Bessemer Group Inc. now owns 933 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 391 shares during the last quarter. IFP Advisors Inc grew its position in shares of 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 purchasing an additional 447 shares during the period. Smartleaf Asset Management LLC boosted its holdings 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 acquiring an additional 440 shares during the last quarter. Root Financial Partners LLC boosted its holdings 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 acquiring an additional 262 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted 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 purchasing an additional 854 shares in the last quarter. 42.76% of the stock is owned by institutional investors and hedge funds.

About Amkor Technology

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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