Amkor Technology (NASDAQ:AMKR) Shares Gap Down to $37.60

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) gapped down before the market opened on Tuesday . The stock had previously closed at $37.60, but opened at $34.97. Amkor Technology shares last traded at $33.29, with a volume of 826,202 shares.

Wall Street Analyst Weigh In

Several analysts have commented on AMKR shares. B. Riley raised their target price on shares of Amkor Technology from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. JPMorgan Chase & Co. assumed coverage on shares of Amkor Technology in a research note on Monday, July 1st. They issued an “overweight” rating and a $48.00 target price for the company. Morgan Stanley raised their price target on Amkor Technology from $34.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, July 2nd. Needham & Company LLC raised their price target on Amkor Technology from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday. Finally, The Goldman Sachs Group lifted their target price on Amkor Technology from $32.00 to $36.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.14.

Amkor Technology Stock Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.34 and a quick ratio of 2.08. The stock has a 50-day simple moving average of $37.57 and a 200-day simple moving average of $33.78. The stock has a market cap of $7.63 billion, a P/E ratio of 22.23 and a beta of 1.86.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, July 29th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. Amkor Technology had a return on equity of 9.53% and a net margin of 5.84%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the previous year, the business posted $0.26 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts forecast that Amkor Technology, Inc. will post 1.76 earnings per share for the current year.

Amkor Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Tuesday, June 4th were issued a dividend of $0.079 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Tuesday, June 4th. Amkor Technology’s dividend payout ratio (DPR) is currently 20.39%.

Insider Transactions at Amkor Technology

In related news, EVP Mark N. Rogers sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $31.30, for a total value of $156,500.00. Following the sale, the executive vice president now directly owns 25,280 shares in the company, valued at $791,264. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Mark N. Rogers sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $31.30, for a total value of $156,500.00. Following the sale, the executive vice president now directly owns 25,280 shares in the company, valued at $791,264. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gil C. Tily sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $32.20, for a total value of $644,000.00. Following the completion of the transaction, the director now directly owns 129,218 shares in the company, valued at $4,160,819.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,000 shares of company stock worth $2,708,250. Insiders own 31.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

Several institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Amkor Technology in the 4th quarter valued at $39,224,000. Vanguard Group Inc. raised its holdings in shares of Amkor Technology by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 14,756,992 shares of the semiconductor company’s stock valued at $490,965,000 after acquiring an additional 959,838 shares in the last quarter. Boston Partners raised its holdings in shares of Amkor Technology by 181.6% in the 4th quarter. Boston Partners now owns 622,144 shares of the semiconductor company’s stock valued at $20,692,000 after acquiring an additional 401,218 shares in the last quarter. M&G Plc purchased a new position in shares of Amkor Technology during the 1st quarter valued at about $11,435,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Amkor Technology during the 1st quarter valued at about $10,034,000. Institutional investors own 42.76% of the company’s stock.

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.