Amkor Technology (NASDAQ:AMKR) Price Target Cut to $34.00

Amkor Technology (NASDAQ:AMKR) had its target price reduced by equities research analysts at Needham & Company LLC from $45.00 to $34.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 15.14% from the company’s current price.

Other equities analysts also recently issued reports about the company. StockNews.com upgraded Amkor Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. KeyCorp lowered their price objective on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday. Morgan Stanley dropped their target price on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. started coverage on shares of Amkor Technology in a report on Monday, July 1st. They set an “overweight” rating and a $48.00 price target for the company. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.38.

Amkor Technology Trading Down 1.2 %

NASDAQ AMKR opened at $29.53 on Tuesday. The company has a market capitalization of $7.26 billion, a price-to-earnings ratio of 19.43 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 has a 12 month low of $17.58 and a 12 month high of $44.86. The company’s fifty day moving average price is $30.71 and its two-hundred day moving average price is $33.30.

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

Insider Buying and Selling at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 204,971 shares in the company, valued at approximately $6,458,636.21. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Winston J. Churchill sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total value of $659,400.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total value of $315,100.00. Following the completion of the sale, the chief executive officer now directly owns 204,971 shares of the company’s stock, valued at approximately $6,458,636.21. This represents 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 owned by corporate insiders.

Hedge Funds Weigh In On Amkor Technology

A number of large investors have recently made changes to their positions in the business. 1620 Investment Advisors Inc. acquired a new stake in shares of Amkor Technology during the second quarter worth approximately $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Amkor Technology during the 2nd quarter valued at $40,000. Larson Financial Group LLC boosted its stake in shares of Amkor Technology by 911.3% during the 2nd quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 1,130 shares during the period. Rothschild Investment LLC purchased a new position in shares of Amkor Technology during the 2nd quarter valued at $52,000. Finally, Headlands Technologies LLC acquired a new position in shares of Amkor Technology in the first quarter worth $43,000. Institutional investors and hedge funds own 42.76% of the company’s stock.

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.