Amkor Technology (NASDAQ:AMKR) Shares Up 10.7% – Should You Buy?

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) rose 10.7% on Tuesday . The company traded as high as $93.28 and last traded at $94.5790. Approximately 2,216,062 shares were traded during trading, a decline of 53% from the average daily volume of 4,683,960 shares. The stock had previously closed at $85.44.

Wall Street Analyst Weigh In

AMKR has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their target price on Amkor Technology from $43.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Morgan Stanley boosted their target price on Amkor Technology from $45.00 to $69.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Wall Street Zen lowered Amkor Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 21st. Needham & Company LLC boosted their target price on Amkor Technology from $65.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Amkor Technology in a research note on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Amkor Technology has a consensus rating of “Hold” and a consensus target price of $67.38.

Amkor Technology Price Performance

The company has a 50 day moving average of $68.74 and a 200-day moving average of $53.92. The firm has a market capitalization of $22.75 billion, a P/E ratio of 52.26 and a beta of 2.25. The company has a current ratio of 2.01, a quick ratio of 1.74 and a debt-to-equity ratio of 0.28.

Amkor Technology (NASDAQ:AMKR) last announced its earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $1.63 billion. During the same quarter in the prior year, the business posted $0.09 EPS. The business’s revenue was up 27.5% compared to the same quarter last year. On average, sell-side analysts predict that Amkor Technology, Inc. will post 2.08 EPS for the current year.

Amkor Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.0835 per share. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Wednesday, June 3rd. Amkor Technology’s dividend payout ratio is presently 18.86%.

Insider Activity

In other news, Director Guillaume Marie Jean Rutten sold 50,000 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $74.28, for a total transaction of $3,714,000.00. Following the completion of the sale, the director directly owned 502,558 shares in the company, valued at approximately $37,330,008.24. This represents a 9.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Douglas A. Alexander sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $76.58, for a total value of $382,900.00. Following the sale, the director owned 29,109 shares of the company’s stock, valued at approximately $2,229,167.22. The trade was a 14.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 109,000 shares of company stock worth $8,106,550. 26.40% of the stock is owned by insiders.

Institutional Trading of Amkor Technology

A number of institutional investors have recently modified their holdings of AMKR. Royal Bank of Canada lifted its position in shares of Amkor Technology by 100.6% during the 1st quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company’s stock valued at $349,000 after acquiring an additional 3,454,012 shares during the period. Fisher Asset Management LLC lifted its position in shares of Amkor Technology by 204.5% during the 4th quarter. Fisher Asset Management LLC now owns 2,095,027 shares of the semiconductor company’s stock valued at $82,712,000 after acquiring an additional 1,407,109 shares during the period. Norges Bank bought a new stake in shares of Amkor Technology during the 4th quarter valued at $53,702,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Amkor Technology by 305.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,574,607 shares of the semiconductor company’s stock valued at $44,719,000 after acquiring an additional 1,186,313 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Amkor Technology by 38.3% during the 2nd quarter. AQR Capital Management LLC now owns 3,558,040 shares of the semiconductor company’s stock valued at $74,541,000 after acquiring an additional 985,727 shares during the period. 42.76% of the stock is currently owned by institutional investors.

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.