Shares of Amkor Technology, Inc. (NASDAQ:AMKR – Get Rating) saw unusually-strong trading volume on Tuesday following a better than expected earnings announcement. Approximately 57,170 shares were traded during mid-day trading, a decline of 92% from the previous session's volume of 681,957 shares.The stock last traded at $21.77 and had previously closed at $20.47.
The semiconductor company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.52 billion. Amkor Technology had a net margin of 10.83% and a return on equity of 24.26%. Amkor Technology's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 earnings per share.
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The business also recently declared a quarterly dividend, which was paid on Monday, June 27th. Stockholders of record on Tuesday, June 7th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Monday, June 6th. Amkor Technology's dividend payout ratio (DPR) is presently 7.09%.
Analyst Ratings Changes
Separately, DA Davidson began coverage on shares of Amkor Technology in a report on Wednesday, June 29th. They set a "buy" rating and a $30.00 target price for the company.Insider Buying and Selling
In other Amkor Technology news, CFO Megan Faust sold 12,000 shares of the stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $19.07, for a total transaction of $228,840.00. Following the sale, the chief financial officer now directly owns 8,512 shares in the company, valued at $162,323.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 56.50% of the stock is owned by insiders.
Institutional Investors Weigh In On Amkor Technology
Several hedge funds have recently added to or reduced their stakes in the business. Xponance Inc. boosted its holdings in Amkor Technology by 5.9% during the 2nd quarter. Xponance Inc. now owns 15,867 shares of the semiconductor company's stock worth $269,000 after acquiring an additional 889 shares during the last quarter. Parallel Advisors LLC raised its stake in Amkor Technology by 1,258.9% in the 2nd quarter. Parallel Advisors LLC now owns 12,325 shares of the semiconductor company's stock valued at $209,000 after acquiring an additional 11,418 shares during the period. Empirical Finance LLC raised its stake in Amkor Technology by 4.2% in the 2nd quarter. Empirical Finance LLC now owns 41,375 shares of the semiconductor company's stock valued at $701,000 after acquiring an additional 1,660 shares during the period. US Bancorp DE increased its position in shares of Amkor Technology by 453.4% during the second quarter. US Bancorp DE now owns 6,309 shares of the semiconductor company's stock valued at $107,000 after buying an additional 5,169 shares during the period. Finally, Yousif Capital Management LLC increased its position in shares of Amkor Technology by 5.0% during the second quarter. Yousif Capital Management LLC now owns 56,012 shares of the semiconductor company's stock valued at $949,000 after buying an additional 2,690 shares during the period. 59.68% of the stock is currently owned by institutional investors and hedge funds.
Amkor Technology Stock Performance
The company has a 50-day moving average price of $18.23 and a two-hundred day moving average price of $20.09. The stock has a market capitalization of $5.40 billion, a P/E ratio of 7.83 and a beta of 1.55. The company has a quick ratio of 1.49, a current ratio of 1.81 and a debt-to-equity ratio of 0.35.
About Amkor Technology
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Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and the rest of the Asia Pacific. It offers turnkey packaging and test services, including semiconductor wafer bump, wafer probe, wafer back-grind, package design, packaging, and test and drop shipment services.
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