Amkor Technology (NASDAQ:AMKR) Stock Price Up 3.3%

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) rose 3.3% on Tuesday . The company traded as high as $38.06 and last traded at $37.89. Approximately 201,359 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 924,596 shares. The stock had previously closed at $36.67.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AMKR shares. Morgan Stanley raised their target price on shares of Amkor Technology from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of Amkor Technology in a report on Tuesday, April 30th. DA Davidson lifted their price target on Amkor Technology from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. B. Riley restated a “buy” rating and issued a $45.00 price objective (up previously from $43.00) on shares of Amkor Technology in a research note on Tuesday, April 30th. Finally, The Goldman Sachs Group raised their price objective on Amkor Technology from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

Amkor Technology Price Performance

The company’s 50-day simple moving average is $32.41 and its 200-day simple moving average is $31.92. 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 market capitalization of $9.80 billion, a price-to-earnings ratio of 25.43 and a beta of 1.84.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.13. Amkor Technology had a return on equity of 9.53% and a net margin of 5.84%. 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 firm posted $0.18 EPS. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. Research analysts forecast that Amkor Technology, Inc. will post 1.78 earnings per share for the current fiscal year.

Amkor Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Tuesday, June 4th will be paid a $0.079 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.32 annualized dividend and a dividend yield of 0.79%. Amkor Technology’s dividend payout ratio (DPR) is presently 20.39%.

Insiders Place Their Bets

In other Amkor Technology news, EVP Mark N. Rogers sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $31.30, for a total transaction of $156,500.00. Following the transaction, the executive vice president now owns 25,280 shares in the company, valued at approximately $791,264. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Mark N. Rogers sold 5,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $31.30, for a total transaction of $156,500.00. Following the sale, the executive vice president now directly owns 25,280 shares of the company’s stock, valued at approximately $791,264. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $31.17, for a total value of $779,250.00. Following the completion of 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 disclosure for this sale can be found here. Insiders sold 75,000 shares of company stock worth $2,414,000 in the last quarter. 31.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Amkor Technology

Several large investors have recently made changes to their positions in AMKR. Vanguard Group Inc. lifted its holdings in shares of Amkor Technology by 10.4% in the third quarter. Vanguard Group Inc. now owns 13,797,154 shares of the semiconductor company’s stock worth $311,816,000 after acquiring an additional 1,300,745 shares during the last quarter. Norges Bank bought a new position in Amkor Technology in the 4th quarter valued at approximately $39,224,000. TT International Asset Management LTD bought a new position in Amkor Technology in the 4th quarter valued at approximately $30,284,000. AQR Capital Management LLC boosted its position in Amkor Technology by 39.3% in the third quarter. AQR Capital Management LLC now owns 1,939,583 shares of the semiconductor company’s stock valued at $43,835,000 after buying an additional 547,604 shares in the last quarter. Finally, Hudson Bay Capital Management LP bought a new stake in shares of Amkor Technology during the third quarter worth $10,015,000. Institutional investors and hedge funds 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.