Amkor Technology, Inc. (NASDAQ:AMKR) Receives Consensus Rating of “Hold” from Brokerages

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) have earned a consensus recommendation of “Hold” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $28.00.

A number of research analysts recently issued reports on the company. Morgan Stanley lowered their target price on Amkor Technology from $24.00 to $19.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 29th. KeyCorp reaffirmed a “sector weight” rating on shares of Amkor Technology in a research note on Thursday, April 17th. Needham & Company LLC cut their target price on shares of Amkor Technology from $34.00 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, April 29th. JPMorgan Chase & Co. reduced their target price on shares of Amkor Technology from $30.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, April 29th. Finally, B. Riley cut Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, April 21st.

Insider Activity at Amkor Technology

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

Hedge Funds Weigh In On Amkor Technology

Large investors have recently made changes to their positions in the business. Barclays PLC grew its position in Amkor Technology by 99.5% during the third quarter. Barclays PLC now owns 405,400 shares of the semiconductor company’s stock valued at $12,406,000 after purchasing an additional 202,218 shares in the last quarter. Merit Financial Group LLC boosted its stake in shares of Amkor Technology by 34.4% during the 4th quarter. Merit Financial Group LLC now owns 13,722 shares of the semiconductor company’s stock valued at $353,000 after buying an additional 3,513 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Amkor Technology by 1,128.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 9,950 shares of the semiconductor company’s stock valued at $256,000 after acquiring an additional 9,140 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Amkor Technology by 70.3% in the fourth quarter. SG Americas Securities LLC now owns 18,590 shares of the semiconductor company’s stock worth $478,000 after acquiring an additional 7,677 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of Amkor Technology by 4.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 33,925 shares of the semiconductor company’s stock worth $872,000 after acquiring an additional 1,456 shares during the last quarter. Institutional investors and hedge funds own 42.76% of the company’s stock.

Amkor Technology Trading Down 2.4%

Shares of NASDAQ:AMKR opened at $18.27 on Friday. Amkor Technology has a twelve month low of $14.03 and a twelve month high of $44.86. The company has a current ratio of 2.11, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The firm has a market cap of $4.51 billion, a P/E ratio of 12.78 and a beta of 1.86. The company has a 50 day moving average of $17.78 and a 200-day moving average of $22.24.

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

Amkor Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.0827 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.81%. Amkor Technology’s dividend payout ratio is currently 25.78%.

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.