Amkor Technology (NASDAQ:AMKR) Reaches New 1-Year High at $40.67

Amkor Technology, Inc. (NASDAQ:AMKR) reached a new 52-week high on Friday . The company traded as high as $40.67 and last traded at $40.58, with a volume of 356912 shares. The stock had previously closed at $38.86.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AMKR shares. B. Riley boosted their price target on Amkor Technology from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Morgan Stanley lifted their price objective on Amkor Technology from $32.00 to $34.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. DA Davidson lifted their price objective on Amkor Technology from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Amkor Technology in a research report on Tuesday, April 30th. Finally, Fox Advisors began coverage on Amkor Technology in a research report on Thursday, March 14th. They issued an “equal weight” rating for the company. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.50.

Amkor Technology Price Performance

The company has a market capitalization of $9.84 billion, a price-to-earnings ratio of 26.33 and a beta of 1.84. The company has a quick ratio of 2.08, a current ratio of 2.34 and a debt-to-equity ratio of 0.26. The company has a 50 day simple moving average of $33.81 and a 200 day simple moving average of $32.55.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.11 by $0.13. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Amkor Technology had a return on equity of 9.53% and a net margin of 5.84%. The firm’s revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 earnings per share. As a group, research analysts predict that Amkor Technology, Inc. will post 1.78 EPS for the current year.

Amkor Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Tuesday, June 4th were paid a dividend of $0.079 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.32 annualized dividend and a yield of 0.79%. Amkor Technology’s dividend payout ratio is presently 20.39%.

Insiders Place Their Bets

In other news, Director Gil C. Tily sold 20,000 shares of the stock in a transaction dated 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 sale, the director now owns 129,218 shares in the company, valued at $4,160,819.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $31.17, for a total value of $779,250.00. Following the completion of the sale, the chief executive officer now owns 114,476 shares in the company, valued at $3,568,216.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gil C. Tily sold 20,000 shares of the stock in a transaction dated 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 sale, the director now owns 129,218 shares of the company’s stock, valued at approximately $4,160,819.60. The disclosure for this sale can be found here. Insiders sold 75,000 shares of company stock worth $2,414,000 over the last three months. 31.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Amkor Technology

A number of large investors have recently modified their holdings of the stock. Allworth Financial LP boosted its holdings in Amkor Technology by 1,324.6% in the fourth quarter. Allworth Financial LP now owns 812 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 755 shares during the last quarter. Pineridge Advisors LLC purchased a new position in Amkor Technology in the fourth quarter valued at about $28,000. Parkside Financial Bank & Trust boosted its holdings in Amkor Technology by 1,414.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 863 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 806 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Amkor Technology by 65.8% in the fourth quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 347 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Amkor Technology in the first quarter valued at about $43,000. 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.