Brokerages Set Amkor Technology, Inc. (NASDAQ:AMKR) Target Price at $26.50

Amkor Technology, Inc. (NASDAQ:AMKR) has earned an average rating of “Hold” from the nine brokerages that are currently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $26.50.

A number of brokerages recently commented on AMKR. KeyCorp reiterated a “sector weight” rating on shares of Amkor Technology in a research note on Thursday, April 17th. JPMorgan Chase & Co. decreased their price objective on shares of Amkor Technology from $30.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, April 29th. The Goldman Sachs Group started coverage on shares of Amkor Technology in a research note on Thursday, July 10th. They issued a “neutral” rating and a $20.00 price objective for the company. B. Riley downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 21st. Finally, Needham & Company LLC decreased their price objective 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.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp increased its stake in shares of Amkor Technology by 353.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 1,160 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Amkor Technology during the 4th quarter worth approximately $310,000. Raymond James Financial Inc. purchased a new position in shares of Amkor Technology during the 4th quarter worth approximately $5,666,000. Swiss National Bank increased its stake in shares of Amkor Technology by 0.8% during the 4th quarter. Swiss National Bank now owns 218,100 shares of the semiconductor company’s stock worth $5,603,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Royce & Associates LP increased its stake in shares of Amkor Technology by 8.6% during the 4th quarter. Royce & Associates LP now owns 426,548 shares of the semiconductor company’s stock worth $10,958,000 after purchasing an additional 33,798 shares in the last quarter. 42.76% of the stock is owned by hedge funds and other institutional investors.

Amkor Technology Stock Up 1.1%

Amkor Technology stock opened at $21.56 on Friday. The company has a current ratio of 2.06, a quick ratio of 1.83 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $20.04 and its 200-day simple moving average is $20.68. The firm has a market capitalization of $5.33 billion, a P/E ratio of 16.84 and a beta of 1.85. Amkor Technology has a twelve month low of $14.03 and a twelve month high of $44.86.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, April 28th. The semiconductor company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.28 billion. Amkor Technology had a net margin of 5.04% and a return on equity of 7.60%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 earnings per share. As a group, equities analysts expect that Amkor Technology will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Thursday, June 5th were given a $0.0827 dividend. The ex-dividend date was Thursday, June 5th. This represents a $0.33 dividend on an annualized basis and a yield of 1.53%. Amkor Technology’s 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.