Amkor Technology (NASDAQ:AMKR) Shares Gap Down – Time to Sell?

Amkor Technology, Inc. (NASDAQ:AMKR) gapped down before the market opened on Monday . The stock had previously closed at $70.47, but opened at $67.34. Amkor Technology shares last traded at $67.1620, with a volume of 356,981 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AMKR. UBS Group reissued a “neutral” rating and issued a $80.00 price objective on shares of Amkor Technology in a report on Tuesday, May 26th. Wall Street Zen downgraded shares of Amkor Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Amkor Technology in a research report on Monday, April 20th. The Goldman Sachs Group lifted their target price on shares of Amkor Technology from $43.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Finally, Morgan Stanley boosted their price target 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. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Amkor Technology currently has a consensus rating of “Hold” and a consensus target price of $69.88.

Amkor Technology Trading Up 6.3%

The firm has a 50 day simple moving average of $74.82 and a 200 day simple moving average of $59.43. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.74 and a current ratio of 2.01. The firm has a market cap of $17.40 billion, a P/E ratio of 40.11 and a beta of 2.20.

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

Amkor Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd were paid a dividend of $0.0835 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.33 annualized dividend and a yield of 0.5%. Amkor Technology’s payout ratio is currently 18.86%.

Insider Buying and Selling at Amkor Technology

In other news, CFO Megan Faust sold 1,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $70.30, for a total transaction of $70,300.00. Following the completion of the transaction, the chief financial officer directly owned 132,138 shares in the company, valued at $9,289,301.40. The trade was a 0.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Guillaume Marie Jean Rutten sold 50,000 shares of the company’s stock in a transaction on Friday, May 8th. The stock was 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 in the company, valued at approximately $37,330,008.24. The trade was a 9.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 119,000 shares of company stock worth $8,928,600 in the last ninety days. Insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

Several large investors have recently added to or reduced their stakes in AMKR. Bessemer Group Inc. raised its position in Amkor Technology by 12.5% in the first quarter. Bessemer Group Inc. now owns 1,216 shares of the semiconductor company’s stock worth $55,000 after acquiring an additional 135 shares during the period. Arista Wealth Management LLC grew its position in shares of Amkor Technology by 1.2% during the 2nd quarter. Arista Wealth Management LLC now owns 13,642 shares of the semiconductor company’s stock valued at $1,176,000 after acquiring an additional 157 shares during the period. CoreCap Advisors LLC grew its position in shares of Amkor Technology by 56.4% during the 2nd quarter. CoreCap Advisors LLC now owns 438 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 158 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Amkor Technology by 2.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,799 shares of the semiconductor company’s stock worth $387,000 after purchasing an additional 202 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Amkor Technology by 0.6% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 36,221 shares of the semiconductor company’s stock worth $1,430,000 after purchasing an additional 218 shares in the last quarter. Institutional investors own 42.76% of the company’s stock.

Amkor Technology Company Profile

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.