Amkor Technology, Inc. (NASDAQ:AMKR) released its earnings results on Monday, July 31st. The semiconductor company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03, Bloomberg Earnings reports. The business had revenue of $989 million during the quarter, compared to analysts’ expectations of $996.10 million. Amkor Technology had a net margin of 6.63% and a return on equity of 12.95%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.02 earnings per share. Amkor Technology updated its Q3 guidance to $0.10-0.27 EPS.
Shares of Amkor Technology (NASDAQ:AMKR) opened at 8.46 on Friday. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 7.64 and a beta of 2.52. The firm’s 50-day moving average is $9.77 and its 200-day moving average is $10.67. Amkor Technology has a 12-month low of $8.32 and a 12-month high of $12.48.
In other Amkor Technology news, insider Stephen Douglas Kelley sold 108,510 shares of Amkor Technology stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $12.11, for a total transaction of $1,314,056.10. Following the transaction, the insider now directly owns 310,460 shares of the company’s stock, valued at $3,759,670.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Roger Anthony Carolin sold 10,000 shares of Amkor Technology stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $12.05, for a total transaction of $120,500.00. Following the transaction, the director now directly owns 39,476 shares in the company, valued at $475,685.80. The disclosure for this sale can be found here. Insiders own 58.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. purchased a new position in Amkor Technology during the first quarter worth approximately $100,000. UBS Group AG boosted its position in Amkor Technology by 25.2% in the first quarter. UBS Group AG now owns 10,760 shares of the semiconductor company’s stock worth $124,000 after buying an additional 2,164 shares during the last quarter. Verition Fund Management LLC purchased a new position in Amkor Technology during the second quarter worth approximately $108,000. Eagle Global Advisors LLC purchased a new position in Amkor Technology during the second quarter worth approximately $124,000. Finally, Amalgamated Bank boosted its position in Amkor Technology by 2.8% in the second quarter. Amalgamated Bank now owns 12,910 shares of the semiconductor company’s stock worth $126,000 after buying an additional 349 shares during the last quarter. 38.77% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have weighed in on AMKR. BidaskClub lowered shares of Amkor Technology from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. ValuEngine upgraded shares of Amkor Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Deutsche Bank AG restated a “hold” rating and issued a $10.50 price objective (down from $12.00) on shares of Amkor Technology in a report on Tuesday, August 1st. Finally, Zacks Investment Research lowered shares of Amkor Technology from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Three research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $12.25.
About Amkor Technology
Amkor Technology, Inc is a provider of outsourced semiconductor packaging and test services. The Company’s packaging and test services are designed to meet application and chip specific requirements, including the type of interconnect technology; size, thickness and electrical, and mechanical and thermal performance.
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