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

Shares of Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $31.47, but opened at $35.03. Amkor Technology shares last traded at $33.81, with a volume of 663,951 shares.

The semiconductor company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.13. Amkor Technology had a net margin of 5.53% and a return on equity of 9.37%. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same period last year, the company posted $0.18 EPS. The business's revenue was down 7.2% on a year-over-year basis.

Amkor Technology Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have weighed in on the company. The Goldman Sachs Group began coverage on Amkor Technology in a research note on Thursday, February 29th. They issued a "neutral" rating and a $32.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $40.00 price target on shares of Amkor Technology in a research note on Tuesday. B. Riley reiterated a "buy" rating and set a $45.00 price objective (up previously from $43.00) on shares of Amkor Technology in a report on Tuesday. Morgan Stanley upped their target price on shares of Amkor Technology from $32.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Finally, DA Davidson lifted their price target on shares of Amkor Technology from $35.00 to $40.00 and gave the company a "buy" rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

Insider Buying and Selling

In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company's stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $31.17, for a total value of $779,250.00. Following the transaction, the chief executive officer now directly owns 114,476 shares of the company's stock, valued at approximately $3,568,216.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $31.17, for a total transaction of $779,250.00. Following the completion of the sale, the chief executive officer now owns 114,476 shares of the company's stock, valued at $3,568,216.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Megan Faust sold 2,800 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 53,023 shares in the company, valued at approximately $1,648,485.07. The disclosure for this sale can be found here. Insiders sold 80,500 shares of company stock worth $2,494,720 in the last three months. Corporate insiders own 31.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Allworth Financial LP raised its stake in shares of Amkor Technology by 1,324.6% during the 4th quarter. Allworth Financial LP now owns 812 shares of the semiconductor company's stock valued at $27,000 after buying an additional 755 shares during the last quarter. Pineridge Advisors LLC purchased a new stake in Amkor Technology in the 4th quarter worth approximately $28,000. Parkside Financial Bank & Trust grew its stake in shares of Amkor Technology by 1,414.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 863 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 806 shares during the period. Fifth Third Bancorp increased its holdings in shares of Amkor Technology by 65.8% during the 4th quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 347 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Amkor Technology by 57.0% in the 4th quarter. Blue Trust Inc. now owns 1,487 shares of the semiconductor company's stock valued at $49,000 after purchasing an additional 540 shares during the period. Hedge funds and other institutional investors own 42.76% of the company's stock.

Amkor Technology Stock Performance

The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 22.16 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 50 day moving average is $31.60 and its 200-day moving average is $29.73.

About Amkor Technology

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.