KeyCorp Begins Coverage on Amkor Technology (NASDAQ:AMKR)

Stock analysts at KeyCorp began coverage on shares of Amkor Technology (NASDAQ:AMKR) in a research report issued to clients and investors on Friday, Marketbeat reports. The firm set an “overweight” rating and a $38.00 price target on the semiconductor company’s stock. KeyCorp’s price target suggests a potential upside of 20.06% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Morgan Stanley lifted their target price on shares of Amkor Technology from $34.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 2nd. Needham & Company LLC boosted their price objective on shares of Amkor Technology from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. B. Riley increased their target price on Amkor Technology from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Finally, JPMorgan Chase & Co. began coverage on Amkor Technology in a research note on Monday, July 1st. They issued an “overweight” rating and a $48.00 price target for the company. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Amkor Technology has a consensus rating of “Moderate Buy” and an average target price of $40.75.

Amkor Technology Price Performance

Shares of NASDAQ AMKR opened at $31.65 on Friday. 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 1 year low of $17.58 and a 1 year high of $44.86. The company’s 50-day moving average is $33.55 and its 200 day moving average is $33.69. The stock has a market capitalization of $7.78 billion, a P/E ratio of 20.82 and a beta of 1.85.

Amkor Technology (NASDAQ:AMKR) last released its earnings results 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. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the firm earned $0.26 EPS. The company’s revenue was up .2% compared to the same quarter last year. On average, sell-side analysts expect that Amkor Technology will post 1.53 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Amkor Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its stake in shares of Amkor Technology by 4.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,410,504 shares of the semiconductor company’s stock worth $46,927,000 after purchasing an additional 63,104 shares in the last quarter. M&G Plc bought a new stake in Amkor Technology during the first quarter valued at about $11,435,000. Duality Advisers LP bought a new position in shares of Amkor Technology in the first quarter worth about $849,000. Capital World Investors bought a new position in shares of Amkor Technology in the first quarter worth about $9,288,000. Finally, Vanguard Group Inc. grew its position in shares of Amkor Technology by 1.5% during the first quarter. Vanguard Group Inc. now owns 14,976,630 shares of the semiconductor company’s stock worth $482,847,000 after purchasing an additional 219,638 shares in the last quarter. 42.76% 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 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.