Amkor Technology (NASDAQ:AMKR) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Amkor Technology (NASDAQ:AMKR) from a hold rating to a buy rating in a research report report published on Monday.

Separately, DA Davidson raised their price objective on Amkor Technology from $32.00 to $36.00 and gave the stock a buy rating in a report on Tuesday, August 1st.

Amkor Technology Price Performance

Shares of NASDAQ:AMKR opened at $28.16 on Monday. Amkor Technology has a one year low of $16.13 and a one year high of $31.38. The business’s fifty day moving average price is $27.92 and its two-hundred day moving average price is $25.75. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.56 and a current ratio of 1.90. The stock has a market cap of $6.92 billion, a PE ratio of 11.98 and a beta of 1.77.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, July 31st. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. Amkor Technology had a return on equity of 15.77% and a net margin of 8.38%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the firm earned $0.51 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis. On average, analysts forecast that Amkor Technology will post 1.6 EPS for the current fiscal year.

Amkor Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Tuesday, September 5th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Friday, September 1st. Amkor Technology’s payout ratio is currently 12.77%.

Insider Activity at Amkor Technology

In related news, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction on Friday, August 18th. The stock was sold at an average price of $24.79, for a total value of $66,933.00. Following the transaction, the chief financial officer now owns 35,394 shares in the company, valued at $877,417.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 10,800 shares of company stock worth $286,551. 53.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV raised its position in Amkor Technology by 17.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 20,138 shares of the semiconductor company’s stock valued at $483,000 after purchasing an additional 3,011 shares during the period. FORA Capital LLC purchased a new stake in shares of Amkor Technology during the fourth quarter worth about $348,000. Principal Financial Group Inc. increased its position in shares of Amkor Technology by 5.6% during the fourth quarter. Principal Financial Group Inc. now owns 413,580 shares of the semiconductor company’s stock worth $9,918,000 after acquiring an additional 21,949 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Amkor Technology during the fourth quarter worth about $245,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Amkor Technology by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,711,184 shares of the semiconductor company’s stock worth $376,754,000 after acquiring an additional 51,306 shares during the last quarter. 38.69% 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 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.