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 Monday,Zacks.com reports.

Several other research firms also recently issued reports on AMKR. Weiss Ratings reissued a “hold (c)” rating on shares of Amkor Technology in a research note on Friday, July 17th. B. Riley Financial upped their price objective on Amkor Technology from $70.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Morgan Stanley upped their price objective on Amkor Technology from $45.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. The Goldman Sachs Group increased their price objective on Amkor Technology from $43.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Finally, Needham & Company LLC raised their price target on shares of Amkor Technology from $65.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Amkor Technology Stock Performance

AMKR stock opened at $66.97 on Monday. Amkor Technology has a 1-year low of $20.86 and a 1-year high of $96.68. The company has a current ratio of 2.01, a quick ratio of 1.74 and a debt-to-equity ratio of 0.28. The firm has a market cap of $16.60 billion, a PE ratio of 38.27 and a beta of 2.20. The business’s 50-day moving average price is $73.60 and its two-hundred day moving average price is $60.48.

Amkor Technology (NASDAQ:AMKR) last posted its earnings results on Monday, April 27th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.10. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the business earned $0.09 EPS. Amkor Technology’s revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, research analysts forecast that Amkor Technology will post 2.08 earnings per share for the current year.

Amkor Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd were issued a $0.0835 dividend. This represents a $0.33 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. Amkor Technology’s dividend payout ratio is presently 18.86%.

Insiders Place Their Bets

In related news, Director Guillaume Marie Jean Rutten sold 50,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $74.28, for a total transaction of $3,714,000.00. Following the transaction, the director directly owned 502,558 shares in the company, valued at approximately $37,330,008.24. The trade was a 9.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roger Anthony Carolin sold 20,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $76.24, for a total transaction of $1,524,800.00. Following the sale, the director directly owned 94,409 shares in the company, valued at $7,197,742.16. This trade represents a 17.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 114,000 shares of company stock valued at $8,631,450 in the last ninety days. 26.40% of the stock is currently owned by insiders.

Institutional Trading of Amkor Technology

Hedge funds have recently made changes to their positions in the business. Bessemer Group Inc. raised its stake in Amkor Technology by 12.5% in the 1st quarter. Bessemer Group Inc. now owns 1,216 shares of the semiconductor company’s stock valued at $55,000 after acquiring an additional 135 shares during the period. Arista Wealth Management LLC boosted its position in Amkor Technology by 1.2% during the second quarter. Arista Wealth Management LLC now owns 13,642 shares of the semiconductor company’s stock worth $1,176,000 after purchasing an additional 157 shares during the period. CoreCap Advisors LLC increased its holdings in shares of Amkor Technology by 56.4% in the second quarter. CoreCap Advisors LLC now owns 438 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 158 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Amkor Technology by 2.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,799 shares of the semiconductor company’s stock valued at $387,000 after purchasing an additional 202 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in Amkor Technology by 0.6% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 36,221 shares of the semiconductor company’s stock valued at $1,430,000 after buying an additional 218 shares during the last quarter. 42.76% of the stock is owned by institutional investors and hedge funds.

About Amkor Technology

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.