Amkor Technology (NASDAQ:AMKR) Stock Price Up 11.7% – Still a Buy?

Amkor Technology, Inc. (NASDAQ:AMKR) shares were up 11.7% during mid-day trading on Tuesday . The company traded as high as $76.30 and last traded at $73.46. Approximately 8,572,703 shares traded hands during trading, an increase of 87% from the average daily volume of 4,576,503 shares. The stock had previously closed at $65.75.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AMKR shares. Melius Research upgraded Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Monday, April 6th. Weiss Ratings restated a “hold (c)” rating on shares of Amkor Technology in a research report on Monday, April 20th. The Goldman Sachs Group raised their target price on Amkor Technology from $43.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Zacks Research cut Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Finally, Needham & Company LLC raised their target price on Amkor Technology from $65.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $67.38.

Amkor Technology Stock Performance

The stock has a market cap of $18.21 billion, a P/E ratio of 41.98 and a beta of 2.29. The company has a fifty day moving average price of $60.53 and a 200 day moving average price of $49.66. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.74.

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

Amkor Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd will be issued a dividend of $0.0835 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $0.33 annualized dividend and a dividend yield of 0.5%. Amkor Technology’s payout ratio is currently 18.86%.

Insider Activity

In other news, Director Douglas A. Alexander sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the sale, the director owned 29,109 shares in the company, valued at $2,229,167.22. The trade was a 14.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Guillaume Marie Jean Rutten sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $74.28, for a total value of $3,714,000.00. Following the sale, the director owned 502,558 shares of the company’s stock, valued at approximately $37,330,008.24. This represents a 9.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 113,000 shares of company stock valued at $8,258,950. Corporate insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AMKR. Bessemer Group Inc. grew its holdings in Amkor Technology by 12.5% during the first quarter. Bessemer Group Inc. now owns 1,216 shares of the semiconductor company’s stock worth $55,000 after buying an additional 135 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Amkor Technology by 2.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,799 shares of the semiconductor company’s stock worth $387,000 after acquiring an additional 202 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Amkor Technology by 0.6% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 36,221 shares of the semiconductor company’s stock worth $1,430,000 after acquiring an additional 218 shares during the last quarter. Evolve Private Wealth LLC boosted its holdings in Amkor Technology by 3.0% during the 1st quarter. Evolve Private Wealth LLC now owns 7,615 shares of the semiconductor company’s stock worth $343,000 after acquiring an additional 222 shares during the last quarter. Finally, Strs Ohio boosted its holdings in Amkor Technology by 8.6% during the 1st quarter. Strs Ohio now owns 2,971 shares of the semiconductor company’s stock worth $134,000 after acquiring an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

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.