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

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.

Analysts Set New Price Targets

AMKR has been the subject of several research analyst reports. Needham & Company LLC lifted their target price on Amkor Technology from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday. The Goldman Sachs Group boosted their price target on Amkor Technology from $32.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Morgan Stanley boosted their price target on Amkor Technology from $34.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 2nd. DA Davidson boosted their price target on Amkor Technology from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Finally, JPMorgan Chase & Co. started coverage on Amkor Technology in a research note on Monday, July 1st. They issued an “overweight” rating and a $48.00 price target for the company. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.14.

Amkor Technology Price Performance

The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 19.74 and a beta of 1.86. The business has a fifty day moving average price of $37.46 and a 200 day moving average price of $33.75.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, July 29th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Amkor Technology had a return on equity of 9.41% and a net margin of 5.87%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the prior year, the firm earned $0.26 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts anticipate that Amkor Technology, Inc. will post 1.7 earnings per share for the current year.

Amkor Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Tuesday, June 4th were paid a $0.079 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.32 annualized dividend and a dividend yield of 1.05%. Amkor Technology’s payout ratio is 20.39%.

Insider Activity

In related news, Director Gil C. Tily sold 20,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $32.20, for a total transaction of $644,000.00. Following the sale, the director now owns 129,218 shares in the company, valued at approximately $4,160,819.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $42.94, for a total transaction 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. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gil C. Tily sold 20,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was 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 owns 129,218 shares in the company, valued at approximately $4,160,819.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,000 shares of company stock valued at $2,551,750. Company insiders own 31.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in Amkor Technology by 1.3% in the second quarter. SG Americas Securities LLC now owns 23,694 shares of the semiconductor company’s stock worth $948,000 after acquiring an additional 296 shares in the last quarter. CWM LLC raised its stake in shares of Amkor Technology by 15.1% in the second quarter. CWM LLC now owns 2,359 shares of the semiconductor company’s stock worth $94,000 after purchasing an additional 309 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Amkor Technology by 1.4% in the fourth quarter. SummerHaven Investment Management LLC now owns 24,548 shares of the semiconductor company’s stock worth $817,000 after purchasing an additional 327 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of Amkor Technology by 0.3% in the first quarter. Retirement Systems of Alabama now owns 129,621 shares of the semiconductor company’s stock worth $4,179,000 after purchasing an additional 344 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Amkor Technology by 65.8% in the fourth quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 347 shares during the last quarter. 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.