Amkor Technology (NASDAQ:AMKR) Upgraded at Zacks Research

Zacks Research upgraded shares of Amkor Technology (NASDAQ:AMKR) from a hold rating to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

Several other analysts also recently weighed in on AMKR. Needham & Company LLC lifted their price target on shares of Amkor Technology from $37.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, January 5th. William Blair upgraded Amkor Technology to a “neutral” rating in a report on Monday, January 12th. B. Riley lifted their target price on Amkor Technology from $29.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, January 15th. The Goldman Sachs Group reissued a “neutral” rating on shares of Amkor Technology in a research report on Friday, January 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Amkor Technology in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Amkor Technology presently has an average rating of “Hold” and a consensus price target of $39.14.

Amkor Technology Stock Performance

AMKR stock opened at $50.00 on Tuesday. Amkor Technology has a twelve month low of $14.03 and a twelve month high of $55.17. The firm has a market cap of $12.36 billion, a price-to-earnings ratio of 40.00 and a beta of 1.99. The business’s fifty day simple moving average is $44.20 and its two-hundred day simple moving average is $33.22. The company has a quick ratio of 1.60, a current ratio of 1.77 and a debt-to-equity ratio of 0.29.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, October 27th. The semiconductor company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.09. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.93 billion. Amkor Technology had a net margin of 4.77% and a return on equity of 7.26%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. Analysts predict that Amkor Technology will post 1.47 earnings per share for the current year.

Amkor Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Wednesday, December 3rd were given a dividend of $0.0835 per share. The ex-dividend date of this dividend was Wednesday, December 3rd. This is an increase from Amkor Technology’s previous quarterly dividend of $0.08. This represents a $0.33 dividend on an annualized basis and a yield of 0.7%. Amkor Technology’s dividend payout ratio is 26.40%.

Insider Buying and Selling

In other Amkor Technology news, EVP Kevin Engel sold 11,000 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $46.21, for a total value of $508,310.00. Following the completion of the transaction, the executive vice president directly owned 349 shares in the company, valued at approximately $16,127.29. The trade was a 96.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $31.68, for a total transaction of $316,800.00. Following the completion of the sale, the chief executive officer owned 346,699 shares in the company, valued at $10,983,424.32. This represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 96,000 shares of company stock valued at $4,085,910 over the last three months. Corporate insiders own 26.90% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

Institutional investors and hedge funds have recently bought and sold shares of the company. Kestra Private Wealth Services LLC purchased a new stake in shares of Amkor Technology during the 4th quarter valued at $232,000. Pictet Asset Management Holding SA grew its stake in Amkor Technology by 9.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 18,825 shares of the semiconductor company’s stock worth $743,000 after buying an additional 1,630 shares during the last quarter. UBS Group AG increased its position in Amkor Technology by 205.5% during the 4th quarter. UBS Group AG now owns 1,254,658 shares of the semiconductor company’s stock valued at $49,534,000 after buying an additional 843,983 shares in the last quarter. Optas LLC purchased a new stake in Amkor Technology in the fourth quarter valued at about $207,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Amkor Technology by 32.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,403 shares of the semiconductor company’s stock valued at $1,832,000 after buying an additional 11,334 shares during the last quarter. 42.76% of the stock is owned by hedge funds and other institutional investors.

Amkor Technology Company Profile

Amkor Technology, Inc (NASDAQ:AMKR) is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.