Amkor Technology (NASDAQ:AMKR) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Amkor Technology (NASDAQ:AMKR) from a hold rating to a buy rating in a research report released on Tuesday morning.

Other research analysts also recently issued research reports about the stock. Morgan Stanley upped their price target on shares of Amkor Technology from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 2nd. Needham & Company LLC upped their price target on shares of Amkor Technology from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. B. Riley upped their price target on shares of Amkor Technology from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. KeyCorp initiated coverage on shares of Amkor Technology in a research report on Friday, September 20th. They set an “overweight” rating and a $38.00 price target for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of Amkor Technology in a report on Monday, July 1st. They issued an “overweight” rating and a $48.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Amkor Technology currently has a consensus rating of “Moderate Buy” and an average price target of $40.75.

Amkor Technology Trading Up 1.5 %

Shares of Amkor Technology stock opened at $30.95 on Tuesday. The firm has a 50-day simple moving average of $31.04 and a two-hundred day simple moving average of $33.37. The company has a market cap of $7.61 billion, a P/E ratio of 20.36 and a beta of 1.84. Amkor Technology has a fifty-two week low of $17.58 and a fifty-two week high of $44.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.83 and a current ratio of 2.08.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.45 billion. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 earnings per share. As a group, equities analysts predict that Amkor Technology will post 1.55 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Tuesday, September 3rd were given a $0.079 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.32 annualized dividend and a yield of 1.02%. Amkor Technology’s dividend payout ratio is presently 20.39%.

Insider Buying and Selling at Amkor Technology

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

Institutional Investors Weigh In On Amkor Technology

Several hedge funds and other institutional investors have recently bought and sold shares of AMKR. Goldman Sachs Group Inc. raised its stake in Amkor Technology by 4.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,410,504 shares of the semiconductor company’s stock worth $46,927,000 after acquiring an additional 63,104 shares in the last quarter. Wellington Management Group LLP grew its position in Amkor Technology by 6.0% during the 4th quarter. Wellington Management Group LLP now owns 200,833 shares of the semiconductor company’s stock worth $6,682,000 after purchasing an additional 11,452 shares during the last quarter. Fisher Asset Management LLC grew its position in Amkor Technology by 2.6% during the 4th quarter. Fisher Asset Management LLC now owns 87,364 shares of the semiconductor company’s stock worth $2,907,000 after purchasing an additional 2,207 shares during the last quarter. Vanguard Group Inc. grew its position in Amkor Technology by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 14,756,992 shares of the semiconductor company’s stock worth $490,965,000 after purchasing an additional 959,838 shares during the last quarter. Finally, Atlas Capital Advisors LLC grew its position in Amkor Technology by 119.3% during the 1st quarter. Atlas Capital Advisors LLC now owns 8,116 shares of the semiconductor company’s stock worth $262,000 after purchasing an additional 4,415 shares during the last quarter. 42.76% of the stock is currently owned by institutional investors and hedge funds.

About Amkor Technology

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.