Analysts Set Amkor Technology, Inc. (NASDAQ:AMKR) Price Target at $31.50

Amkor Technology, Inc. (NASDAQ:AMKR) has received a consensus rating of “Hold” from the nine ratings firms that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $28.00.

Several equities research analysts recently commented on AMKR shares. Melius cut Amkor Technology from a “buy” rating to a “hold” rating and decreased their target price for the stock from $34.00 to $30.00 in a research note on Monday, January 6th. DA Davidson reduced their price objective on shares of Amkor Technology from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Amkor Technology from $30.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday. KeyCorp restated a “sector weight” rating on shares of Amkor Technology in a report on Thursday, April 17th. Finally, Needham & Company LLC cut their price objective on shares of Amkor Technology from $34.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday.

Insider Activity at Amkor Technology

In related news, major shareholder Agnes C. Kim sold 869,565 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the completion of the transaction, the insider now owns 10,020,870 shares in the company, valued at approximately $218,956,009.50. This represents a 7.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kevin Engel sold 5,489 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total transaction of $119,056.41. Following the transaction, the executive vice president now directly owns 1,388 shares of the company’s stock, valued at $30,105.72. This represents a 79.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amkor Technology

Several institutional investors have recently bought and sold shares of AMKR. SBI Securities Co. Ltd. bought a new position in shares of Amkor Technology during the 4th quarter worth $27,000. UMB Bank n.a. lifted its stake in shares of Amkor Technology by 677.0% during the 1st quarter. UMB Bank n.a. now owns 1,756 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 1,530 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Amkor Technology by 353.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company’s stock worth $38,000 after buying an additional 1,160 shares during the period. Allworth Financial LP grew its stake in Amkor Technology by 166.3% in the 1st quarter. Allworth Financial LP now owns 2,173 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 1,357 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Amkor Technology by 421.0% during the fourth quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 1,242 shares in the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Amkor Technology Price Performance

AMKR stock opened at $17.48 on Tuesday. The company has a market capitalization of $4.32 billion, a P/E ratio of 12.22 and a beta of 1.88. The company has a fifty day moving average price of $18.24 and a 200-day moving average price of $23.33. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 2.11. Amkor Technology has a 52-week low of $14.03 and a 52-week high of $44.86.

Amkor Technology (NASDAQ:AMKR) last announced its earnings results on Monday, April 28th. The semiconductor company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the business posted $0.24 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. As a group, equities analysts expect that Amkor Technology will post 1.47 EPS for the current year.

Amkor Technology Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th were issued a $0.0827 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.89%. Amkor Technology’s dividend payout ratio is presently 25.78%.

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.