Amkor Technology (NASDAQ:AMKR) Price Target Cut to $32.00 by Analysts at The Goldman Sachs Group

Amkor Technology (NASDAQ:AMKR) had its target price lowered by The Goldman Sachs Group from $36.00 to $32.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

Other equities analysts have also recently issued reports about the stock. KeyCorp cut their target price on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday. Needham & Company LLC reduced their target price on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday. StockNews.com raised Amkor Technology from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Morgan Stanley reduced their price objective on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered their target price on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.63.

Amkor Technology Price Performance

AMKR stock opened at $27.98 on Tuesday. The company has a quick ratio of 1.83, a current ratio of 2.08 and a debt-to-equity ratio of 0.23. Amkor Technology has a fifty-two week low of $17.58 and a fifty-two week high of $44.86. The business has a 50 day moving average price of $30.62 and a 200 day moving average price of $33.26. The stock has a market cap of $6.88 billion, a price-to-earnings ratio of 18.41 and a beta of 1.84.

Amkor Technology (NASDAQ:AMKR) last posted its earnings results on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. Amkor Technology had a return on equity of 9.41% and a net margin of 5.87%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. Equities research analysts anticipate that Amkor Technology will post 1.55 earnings per share for the current fiscal year.

Amkor Technology Announces Dividend

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. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.13%. Amkor Technology’s dividend payout ratio (DPR) is presently 20.39%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AMKR. M&G Plc purchased a new stake in Amkor Technology in the 1st quarter valued at approximately $11,435,000. Duality Advisers LP acquired a new position in shares of Amkor Technology in the first quarter worth $849,000. Capital World Investors purchased a new stake in shares of Amkor Technology in the first quarter valued at $9,288,000. Vanguard Group Inc. boosted its stake 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 valued at $482,847,000 after acquiring an additional 219,638 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Amkor Technology during the 1st quarter worth about $1,257,000. 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.