Amkor Technology (NASDAQ:AMKR) Shares Gap Up Following Better-Than-Expected Earnings

Amkor Technology, Inc. (NASDAQ:AMKR) gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $21.23, but opened at $24.52. Amkor Technology shares last traded at $26.28, with a volume of 1,566,246 shares trading hands.

The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.42 billion. Amkor Technology had a net margin of 4.80% and a return on equity of 7.23%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the business posted $0.27 EPS.

Amkor Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Thursday, June 5th were paid a $0.0827 dividend. The ex-dividend date was Thursday, June 5th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.38%. Amkor Technology’s payout ratio is 26.83%.

Wall Street Analyst Weigh In

AMKR has been the subject of a number of recent research reports. KeyCorp restated a “sector weight” rating on shares of Amkor Technology in a research note on Thursday, April 17th. DA Davidson decreased their target price on shares of Amkor Technology from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. JPMorgan Chase & Co. lifted their target price on shares of Amkor Technology from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Tuesday. B. Riley lifted their target price on shares of Amkor Technology from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, The Goldman Sachs Group assumed coverage on shares of Amkor Technology in a research report on Thursday, July 10th. They set a “neutral” rating and a $20.00 target price on the stock. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Amkor Technology currently has an average rating of “Hold” and a consensus price target of $26.44.

Institutional Trading of Amkor Technology

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Amkor Technology by 2.3% during the first quarter. Vanguard Group Inc. now owns 16,025,236 shares of the semiconductor company’s stock worth $289,416,000 after purchasing an additional 361,010 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Amkor Technology by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 13,398,430 shares of the semiconductor company’s stock valued at $241,980,000 after acquiring an additional 365,975 shares in the last quarter. First Trust Advisors LP increased its position in Amkor Technology by 7.9% in the 4th quarter. First Trust Advisors LP now owns 4,778,790 shares of the semiconductor company’s stock valued at $122,767,000 after acquiring an additional 350,809 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Amkor Technology by 15.8% during the fourth quarter. Alliancebernstein L.P. now owns 4,081,481 shares of the semiconductor company’s stock worth $104,853,000 after purchasing an additional 556,761 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Amkor Technology by 8.4% during the first quarter. American Century Companies Inc. now owns 2,937,593 shares of the semiconductor company’s stock worth $53,053,000 after purchasing an additional 228,591 shares in the last quarter. Institutional investors own 42.76% of the company’s stock.

Amkor Technology Price Performance

The stock’s 50-day moving average price is $20.67 and its 200-day moving average price is $20.41. The company has a market capitalization of $5.91 billion, a price-to-earnings ratio of 19.46 and a beta of 1.85. The company has a quick ratio of 1.83, a current ratio of 1.89 and a debt-to-equity ratio of 0.28.

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.