Amkor Technology (NASDAQ:AMKR) Price Target Raised to $27.00

Amkor Technology (NASDAQ:AMKR) had its price target increased by JPMorgan Chase & Co. from $25.00 to $27.00 in a research report report published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the semiconductor company’s stock.

AMKR has been the topic of several other reports. B. Riley cut shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, April 21st. DA Davidson cut their target price on shares of Amkor Technology from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. KeyCorp reaffirmed a “sector weight” rating on shares of Amkor Technology in a research report on Thursday, April 17th. The Goldman Sachs Group started coverage on Amkor Technology in a research note on Thursday, July 10th. They issued a “neutral” rating and a $20.00 price target for the company. Finally, UBS Group upped their price objective on Amkor Technology from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.44.

Amkor Technology Trading Down 5.8%

NASDAQ:AMKR opened at $22.56 on Tuesday. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 18.34 and a beta of 1.85. Amkor Technology has a one year low of $14.03 and a one year high of $33.85. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.83 and a current ratio of 1.89. The business’s 50-day simple moving average is $20.75 and its 200 day simple moving average is $20.39.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, July 28th. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. Amkor Technology had a return on equity of 7.23% and a net margin of 4.80%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the business earned $0.27 EPS. Amkor Technology’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, sell-side analysts predict that Amkor Technology will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Thursday, June 5th were issued a $0.0827 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $0.33 dividend on an annualized basis and a yield of 1.5%. Amkor Technology’s dividend payout ratio (DPR) is currently 26.83%.

Insider Transactions at Amkor Technology

In other news, EVP Mark N. Rogers sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $23.58, for a total transaction of $353,700.00. Following the completion of the transaction, the executive vice president directly owned 23,862 shares of the company’s stock, valued at approximately $562,665.96. This represents a 38.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co increased its position in Amkor Technology by 0.5% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 90,081 shares of the semiconductor company’s stock worth $2,313,000 after buying an additional 484 shares during the period. Advisors Asset Management Inc. grew its position in shares of Amkor Technology by 61.8% during the first quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 854 shares during the last quarter. Transce3nd LLC increased its holdings in shares of Amkor Technology by 5.8% in the 1st quarter. Transce3nd LLC now owns 15,817 shares of the semiconductor company’s stock worth $283,000 after acquiring an additional 864 shares during the period. Merit Financial Group LLC increased its holdings in shares of Amkor Technology by 6.4% in the 1st quarter. Merit Financial Group LLC now owns 14,595 shares of the semiconductor company’s stock worth $264,000 after acquiring an additional 873 shares during the period. Finally, Meeder Asset Management Inc. lifted its position in Amkor Technology by 7.8% in the 4th quarter. Meeder Asset Management Inc. now owns 14,444 shares of the semiconductor company’s stock valued at $371,000 after purchasing an additional 1,041 shares during the last quarter. Institutional investors and hedge funds own 42.76% of the company’s stock.

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.