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

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) gapped up before the market opened on Friday . The stock had previously closed at $29.09, but opened at $30.69. Amkor Technology shares last traded at $30.40, with a volume of 246,605 shares traded.

Analysts Set New Price Targets

Several brokerages have recently commented on AMKR. JPMorgan Chase & Co. began coverage on shares of Amkor Technology in a research report on Monday, July 1st. They set an “overweight” rating and a $48.00 price target on the stock. Needham & Company LLC increased their price target on shares of Amkor Technology from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. B. Riley increased their price target on shares of Amkor Technology from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Morgan Stanley increased their price target on shares of Amkor Technology from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 2nd. Finally, KeyCorp started coverage on shares of Amkor Technology in a research note on Friday, September 20th. They set an “overweight” rating and a $38.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Amkor Technology presently has an average rating of “Moderate Buy” and a consensus price target of $40.75.

Amkor Technology Trading Up 3.9 %

The firm’s 50 day moving average is $31.20 and its two-hundred day moving average is $33.46. The stock has a market cap of $7.43 billion, a price-to-earnings ratio of 19.93 and a beta of 1.84. The company has a quick ratio of 1.83, a current ratio of 2.08 and a debt-to-equity ratio of 0.23.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.23 by $0.04. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the business earned $0.26 earnings per share. Amkor Technology’s revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that Amkor Technology, Inc. will post 1.53 EPS for the current year.

Amkor Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Tuesday, September 3rd were paid a $0.079 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.32 annualized dividend and a dividend yield of 1.05%. Amkor Technology’s payout ratio is currently 20.39%.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $42.94, for a total value of $1,073,500.00. Following the sale, the chief executive officer now owns 128,333 shares in the company, valued at approximately $5,510,619.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $42.94, for a total value of $1,073,500.00. Following the completion of the transaction, the chief executive officer now directly owns 128,333 shares in the company, valued at $5,510,619.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Winston J. Churchill sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the completion of the transaction, the director now owns 19,871 shares of the company’s stock, valued at $655,146.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 31.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its holdings in shares of Amkor Technology by 4.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,410,504 shares of the semiconductor company’s stock valued at $46,927,000 after acquiring an additional 63,104 shares in the last quarter. M&G Plc bought a new stake in Amkor Technology during the first quarter worth approximately $11,435,000. Duality Advisers LP bought a new stake in Amkor Technology during the first quarter worth approximately $849,000. Capital World Investors bought a new stake in Amkor Technology during the first quarter worth approximately $9,288,000. Finally, Vanguard Group Inc. boosted its holdings in Amkor Technology by 1.5% during the first quarter. Vanguard Group Inc. now owns 14,976,630 shares of the semiconductor company’s stock worth $482,847,000 after buying an additional 219,638 shares in the last quarter. 42.76% of the stock is currently owned by institutional investors.

Amkor Technology Company Profile

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.