Amkor Technology (NASDAQ:AMKR) Shares Gap Down After Earnings Miss

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $29.53, but opened at $24.99. Amkor Technology shares last traded at $26.00, with a volume of 947,446 shares traded.

The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.01). Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the company posted $0.54 EPS. The company's quarterly revenue was up 2.2% compared to the same quarter last year.

Amkor Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Tuesday, September 3rd were paid a $0.079 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.32 annualized dividend and a dividend yield of 1.13%. Amkor Technology's dividend payout ratio is currently 20.39%.

Analyst Upgrades and Downgrades

AMKR has been the topic of several recent analyst reports. DA Davidson lowered their price target on Amkor Technology from $40.00 to $36.00 and set a "buy" rating on the stock in a research report on Tuesday. The Goldman Sachs Group lowered their target price on shares of Amkor Technology from $36.00 to $32.00 and set a "neutral" rating on the stock in a report on Tuesday. KeyCorp cut their price target on shares of Amkor Technology from $38.00 to $34.00 and set an "overweight" rating for the company in a report on Tuesday. Needham & Company LLC decreased their price objective on shares of Amkor Technology from $45.00 to $34.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, Morgan Stanley dropped their price objective on shares of Amkor Technology from $35.00 to $26.00 and set an "equal weight" rating for the company in a report on Tuesday. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $35.63.

Insider Buying and Selling at Amkor Technology

In related news, Director Winston J. Churchill sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the completion of the sale, the director now directly owns 19,871 shares of the company's stock, valued at $655,146.87. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Amkor Technology news, Director Winston J. Churchill sold 20,000 shares of the firm's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total transaction of $659,400.00. Following the transaction, the director now owns 19,871 shares in the company, valued at approximately $655,146.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 10,000 shares of Amkor Technology stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total transaction of $315,100.00. Following the transaction, the chief executive officer now directly owns 204,971 shares in the company, valued at $6,458,636.21. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company's stock.

Institutional Trading of Amkor Technology

Several hedge funds have recently bought and sold shares of AMKR. Vanguard Group Inc. lifted its position in Amkor Technology by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 14,976,630 shares of the semiconductor company's stock valued at $482,847,000 after acquiring an additional 219,638 shares in the last quarter. Earnest Partners LLC boosted its position in shares of Amkor Technology by 3.2% during the second quarter. Earnest Partners LLC now owns 2,423,255 shares of the semiconductor company's stock worth $96,979,000 after buying an additional 75,364 shares during the period. American Century Companies Inc. grew its holdings in shares of Amkor Technology by 54.4% during the second quarter. American Century Companies Inc. now owns 1,673,314 shares of the semiconductor company's stock worth $66,966,000 after buying an additional 589,530 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in Amkor Technology in the 2nd quarter valued at approximately $58,379,000. Finally, Ceredex Value Advisors LLC bought a new position in shares of Amkor Technology during the 3rd quarter worth approximately $42,610,000. 42.76% of the stock is currently owned by institutional investors and hedge funds.

Amkor Technology Stock Performance

The stock's 50-day moving average price is $30.62 and its 200 day moving average price is $33.26. The firm has a market cap of $6.88 billion, a P/E ratio of 18.41 and a beta of 1.84. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.08 and a quick ratio of 1.83.

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.