KeyCorp Cuts Amkor Technology (NASDAQ:AMKR) Price Target to $34.00

Amkor Technology (NASDAQ:AMKR) had its price objective lowered by KeyCorp from $38.00 to $34.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the semiconductor company’s stock.

Other research analysts have also recently issued research reports about the company. Needham & Company LLC boosted their price objective on Amkor Technology from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. StockNews.com upgraded shares of Amkor Technology from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Morgan Stanley boosted their target price on shares of Amkor Technology from $34.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. began coverage on shares of Amkor Technology in a research report on Monday, July 1st. They set an “overweight” rating and a $48.00 target price for the company. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $35.63.

Amkor Technology Price Performance

Amkor Technology stock opened at $26.00 on Tuesday. Amkor Technology has a 52-week low of $21.92 and a 52-week high of $44.86. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.83 and a current ratio of 2.06. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 17.57 and a beta of 1.84. The stock’s 50 day moving average price is $30.21 and its two-hundred day moving average price is $33.13.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). The business 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 5.68% and a return on equity of 8.98%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted $0.54 earnings per share. On average, equities analysts predict that Amkor Technology will post 1.42 earnings per share for the current year.

Amkor Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders 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 dividend yield of 1.22%. Amkor Technology’s dividend payout ratio is currently 20.95%.

Insider Buying and Selling at Amkor Technology

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

Institutional Investors Weigh In On Amkor Technology

A number of hedge funds have recently modified their holdings of AMKR. 1620 Investment Advisors Inc. purchased a new stake in Amkor Technology in the second quarter worth about $31,000. Ashton Thomas Private Wealth LLC bought a new stake in Amkor Technology during the 2nd quarter worth approximately $40,000. Larson Financial Group LLC lifted its holdings in Amkor Technology by 911.3% during the second quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 1,130 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Amkor Technology in the third quarter worth approximately $39,000. Finally, Rothschild Investment LLC purchased a new stake in shares of Amkor Technology in the second quarter worth $52,000. 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.