Amkor Technology (NASDAQ:AMKR) Reaches New 12-Month High – Here’s Why

Amkor Technology, Inc. (NASDAQ:AMKR)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $80.21 and last traded at $81.2860, with a volume of 1616653 shares changing hands. The stock had previously closed at $76.15.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AMKR shares. Morgan Stanley increased their price objective on shares of Amkor Technology from $45.00 to $69.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. The Goldman Sachs Group increased their price objective on shares of Amkor Technology from $43.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amkor Technology in a research report on Monday, April 20th. Zacks Research lowered shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Finally, B. Riley Financial increased their price objective on shares of Amkor Technology from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Amkor Technology currently has an average rating of “Hold” and a consensus target price of $67.38.

Amkor Technology Stock Up 8.0%

The company has a current ratio of 2.01, a quick ratio of 1.74 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $20.39 billion, a PE ratio of 47.04 and a beta of 2.25. The business’s 50-day simple moving average is $67.24 and its 200-day simple moving average is $53.20.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.10. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the firm posted $0.09 EPS. Amkor Technology’s revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Amkor Technology, Inc. will post 2.08 EPS for the current fiscal year.

Amkor Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.0835 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $0.33 dividend on an annualized basis and a yield of 0.4%. Amkor Technology’s dividend payout ratio (DPR) is currently 18.86%.

Insider Activity at Amkor Technology

In other Amkor Technology news, Director Guillaume Marie Jean Rutten sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $74.28, for a total transaction of $3,714,000.00. Following the completion of the transaction, the director directly owned 502,558 shares of the company’s stock, valued at approximately $37,330,008.24. This trade represents a 9.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Roger Anthony Carolin sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $76.24, for a total transaction of $1,524,800.00. Following the transaction, the director directly owned 94,409 shares of the company’s stock, valued at $7,197,742.16. This represents a 17.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 114,000 shares of company stock worth $8,329,250 in the last ninety days. 26.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amkor Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. grew its stake in shares of Amkor Technology by 72.1% during the 3rd quarter. Bessemer Group Inc. now owns 933 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 391 shares during the period. IFP Advisors Inc grew its stake in shares of Amkor Technology by 91.2% during the 3rd quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 447 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Amkor Technology by 180.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 440 shares during the period. Root Financial Partners LLC grew its stake in shares of Amkor Technology by 38.8% during the 4th quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 262 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in shares of Amkor Technology by 61.8% during the 1st quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 854 shares during the period. Institutional investors and hedge funds own 42.76% of the company’s stock.

About Amkor Technology

Amkor Technology, Inc (NASDAQ:AMKR) is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.