Amkor Technology (NASDAQ:AMKR) Price Target Lowered to $26.00 at Morgan Stanley

Amkor Technology (NASDAQ:AMKR) had its target price cut by Morgan Stanley from $35.00 to $26.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

Several other brokerages have also issued reports on AMKR. KeyCorp cut their price target on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday. StockNews.com raised shares of Amkor Technology from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. started coverage on shares of Amkor Technology in a research note on Monday, July 1st. They issued an “overweight” rating and a $48.00 price objective on the stock. Finally, Needham & Company LLC boosted their target price on shares of Amkor Technology from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.63.

Amkor Technology Stock Performance

NASDAQ:AMKR opened at $25.45 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 twelve month low of $17.58 and a twelve month high of $44.86. The company has a fifty day moving average of $30.49 and a 200-day moving average of $33.22. The firm has a market capitalization of $6.27 billion, a P/E ratio of 17.20 and a beta of 1.84.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.01). The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the firm posted $0.54 earnings per share. As a group, sell-side analysts anticipate that Amkor Technology will post 1.55 EPS for the current 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 issued a dividend of $0.079 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 1.24%. Amkor Technology’s dividend payout ratio (DPR) is currently 20.95%.

Insiders Place Their Bets

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 transaction of $659,400.00. Following the completion of the sale, the director now directly owns 19,871 shares of the company’s stock, valued at $655,146.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Winston J. Churchill sold 20,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 19,871 shares of the company’s stock, valued at $655,146.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company’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 value of $315,100.00. Following the completion of the transaction, the chief executive officer now owns 204,971 shares in the company, valued at approximately $6,458,636.21. The trade was a 0.00 % decrease in their position. 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

Several large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in Amkor Technology by 1.3% during the second quarter. SG Americas Securities LLC now owns 23,694 shares of the semiconductor company’s stock worth $948,000 after purchasing an additional 296 shares during the period. CWM LLC raised its position in shares of Amkor Technology by 15.1% in the second quarter. CWM LLC now owns 2,359 shares of the semiconductor company’s stock valued at $94,000 after purchasing an additional 309 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Amkor Technology by 8.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,188 shares of the semiconductor company’s stock valued at $168,000 after buying an additional 333 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in Amkor Technology by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 129,621 shares of the semiconductor company’s stock worth $4,179,000 after buying an additional 344 shares during the period. Finally, Ritholtz Wealth Management grew its stake in Amkor Technology by 1.7% in the 3rd quarter. Ritholtz Wealth Management now owns 21,717 shares of the semiconductor company’s stock valued at $665,000 after buying an additional 357 shares in the last quarter. Hedge funds and other 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.