Analysts Set Amkor Technology, Inc. (NASDAQ:AMKR) Price Target at $40.75

Amkor Technology, Inc. (NASDAQ:AMKR) has been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $40.75.

A number of brokerages have commented on AMKR. B. Riley increased their price target on shares of Amkor Technology from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Morgan Stanley increased their price target on shares of Amkor Technology from $34.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 2nd. StockNews.com cut shares of Amkor Technology from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. Needham & Company LLC increased their price target on shares of Amkor Technology from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, KeyCorp began 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 on the stock.

Amkor Technology Stock Up 2.3 %

AMKR stock opened at $30.92 on Friday. The company has a current ratio of 2.08, a quick ratio of 1.83 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $30.90 and its 200 day moving average is $33.43. The stock has a market cap of $7.60 billion, a price-to-earnings ratio of 20.34 and a beta of 1.84. Amkor Technology has a 1-year low of $17.58 and a 1-year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.04. The company 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%. Amkor Technology’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 earnings per share. Sell-side analysts predict that Amkor Technology will post 1.55 EPS for the current fiscal year.

Amkor Technology Dividend Announcement

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

Insider Buying and Selling

In related 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 legal filing with the SEC, which is available through this link. 31.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amkor Technology

A number of institutional investors have recently added to or reduced their stakes in the company. Ritholtz Wealth Management raised its holdings in Amkor Technology by 1.7% in the third quarter. Ritholtz Wealth Management now owns 21,717 shares of the semiconductor company’s stock worth $665,000 after purchasing an additional 357 shares in the last quarter. Covea Finance raised its holdings in Amkor Technology by 32.8% in the third quarter. Covea Finance now owns 42,500 shares of the semiconductor company’s stock worth $1,300,000 after purchasing an additional 10,500 shares in the last quarter. CWM LLC raised its holdings in Amkor Technology by 530.1% in the third quarter. CWM LLC now owns 14,863 shares of the semiconductor company’s stock worth $455,000 after purchasing an additional 12,504 shares in the last quarter. GAMMA Investing LLC raised its holdings in Amkor Technology by 23.5% in the third quarter. GAMMA Investing LLC now owns 4,355 shares of the semiconductor company’s stock worth $133,000 after purchasing an additional 829 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in Amkor Technology in the second quarter worth $386,000. Institutional investors own 42.76% of the company’s stock.

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.