Amkor Technology, Inc. (NASDAQ:AMKR) Plans Quarterly Dividend of $0.08

Amkor Technology, Inc. (NASDAQ:AMKR) declared a quarterly dividend on Tuesday, November 14th, Zacks reports. Stockholders of record on Tuesday, December 5th will be paid a dividend of 0.079 per share by the semiconductor company on Tuesday, December 26th. This represents a $0.32 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Monday, December 4th. This is an increase from Amkor Technology’s previous quarterly dividend of $0.08.

Amkor Technology has a payout ratio of 14.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Amkor Technology to earn $2.11 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 14.2%.

Amkor Technology Price Performance

Shares of NASDAQ AMKR opened at $25.68 on Thursday. The firm’s 50-day moving average price is $22.66 and its 200-day moving average price is $25.02. Amkor Technology has a 1-year low of $17.58 and a 1-year high of $31.38. The firm has a market capitalization of $6.31 billion, a P/E ratio of 15.56 and a beta of 1.85. The company has a current ratio of 1.95, a quick ratio of 1.65 and a debt-to-equity ratio of 0.24.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data on Monday, October 30th. The semiconductor company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. Amkor Technology had a net margin of 6.11% and a return on equity of 10.79%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the business earned $1.24 earnings per share. The business’s quarterly revenue was down 12.6% compared to the same quarter last year. Equities research analysts anticipate that Amkor Technology will post 1.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on AMKR shares. B. Riley started coverage on shares of Amkor Technology in a report on Thursday. They set a “buy” rating and a $35.00 price objective on the stock. DA Davidson upped their price objective on shares of Amkor Technology from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. StockNews.com lowered Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Morgan Stanley initiated coverage on Amkor Technology in a research report on Thursday, November 9th. They issued an “equal weight” rating and a $27.00 price target for the company. Finally, UBS Group initiated coverage on Amkor Technology in a research report on Thursday. They issued a “buy” rating and a $31.00 price target for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.25.

Insider Buying and Selling at Amkor Technology

In other news, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $24.79, for a total transaction of $66,933.00. Following the completion of the sale, the chief financial officer now directly owns 35,394 shares of the company’s stock, valued at approximately $877,417.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Amkor Technology news, EVP Mark N. Rogers sold 5,000 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $23.84, for a total value of $119,200.00. Following the completion of the sale, the executive vice president now directly owns 20,815 shares of the company’s stock, valued at $496,229.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $24.79, for a total value of $66,933.00. Following the completion of the sale, the chief financial officer now directly owns 35,394 shares of the company’s stock, valued at $877,417.26. The disclosure for this sale can be found here. Insiders sold 10,013,100 shares of company stock worth $232,508,173 in the last quarter. 53.30% of the stock is currently owned by company insiders.

Institutional Trading of Amkor Technology

A number of large investors have recently bought and sold shares of the company. Morgan Stanley increased its position in Amkor Technology by 62.5% in the third quarter. Morgan Stanley now owns 1,764,586 shares of the semiconductor company’s stock worth $39,880,000 after buying an additional 678,911 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in Amkor Technology by 3.2% in the third quarter. Mercer Global Advisors Inc. ADV now owns 15,359 shares of the semiconductor company’s stock worth $347,000 after buying an additional 475 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Amkor Technology by 17.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 137,512 shares of the semiconductor company’s stock valued at $3,108,000 after buying an additional 20,802 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Amkor Technology in the 3rd quarter valued at approximately $428,000. Finally, Royal Bank of Canada grew its stake in Amkor Technology by 84.6% in the 3rd quarter. Royal Bank of Canada now owns 21,878 shares of the semiconductor company’s stock valued at $495,000 after buying an additional 10,029 shares in the last quarter. 38.69% of the stock is owned by hedge funds and other institutional investors.

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 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.