Amkor Technology (NASDAQ:AMKR) Upgraded by KeyCorp to Strong-Buy

Amkor Technology (NASDAQ:AMKR) was upgraded by analysts at KeyCorp to a “strong-buy” rating in a note issued to investors on Thursday, Zacks.com reports.

A number of other research firms have also recently commented on AMKR. JPMorgan Chase & Co. started coverage on Amkor Technology in a research report on Monday, July 1st. They set an “overweight” rating and a $48.00 target price on the stock. Morgan Stanley lifted their price objective on Amkor Technology from $34.00 to $38.00 and gave the company an “equal weight” rating in a 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 note on Tuesday, July 30th. Finally, B. Riley raised their price objective on Amkor Technology from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Three equities research 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 company’s stock. According to data from MarketBeat, Amkor Technology has a consensus rating of “Moderate Buy” and an average price target of $40.75.

Amkor Technology Price Performance

Shares of AMKR opened at $30.96 on Thursday. Amkor Technology has a fifty-two week low of $17.58 and a fifty-two week high of $44.86. The firm’s 50 day moving average price is $33.12 and its 200 day moving average price is $33.66. The company has a quick ratio of 1.83, a current ratio of 2.08 and a debt-to-equity ratio of 0.23. The company has a market cap of $7.61 billion, a P/E ratio of 20.37 and a beta of 1.85.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, July 29th. The semiconductor company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.04. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 earnings per share. On average, research analysts forecast that Amkor Technology will post 1.53 earnings per share for the current fiscal year.

Insider Activity

In related 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 sale, the director now directly owns 19,871 shares of the company’s stock, valued at $655,146.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Winston J. Churchill sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total transaction of $659,400.00. Following the completion of the sale, the director now owns 19,871 shares in the company, valued at approximately $655,146.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $42.94, for a total transaction of $1,073,500.00. Following the completion of the transaction, the chief executive officer now directly owns 128,333 shares in the company, valued at approximately $5,510,619.02. The disclosure for this sale can be found here. Company insiders own 31.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Pineridge Advisors LLC purchased a new position in Amkor Technology in the fourth quarter valued at about $28,000. 1620 Investment Advisors Inc. bought a new stake in shares of Amkor Technology in the second quarter worth $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in Amkor Technology in the second quarter valued at $40,000. Headlands Technologies LLC acquired a new position in Amkor Technology during the 1st quarter worth $43,000. Finally, Larson Financial Group LLC increased its position in shares of Amkor Technology by 911.3% in the 2nd quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 1,130 shares during the last quarter. 42.76% of the stock is currently 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 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.