Amkor Technology (NASDAQ:AMKR) Price Target Cut to $75.00 by Analysts at B. Riley Financial

Amkor Technology (NASDAQ:AMKR) had its target price trimmed by B. Riley Financial from $90.00 to $75.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.

AMKR has been the topic of several other reports. Needham & Company LLC upped their price objective on shares of Amkor Technology from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Melius Research upgraded Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Monday, April 6th. UBS Group restated a “neutral” rating and set a $80.00 price target on shares of Amkor Technology in a research report on Tuesday, May 26th. Zacks Research raised shares of Amkor Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, The Goldman Sachs Group lifted their target price on shares of Amkor Technology from $43.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $68.00.

Amkor Technology Trading Up 0.4%

NASDAQ AMKR opened at $66.97 on Wednesday. The business’s fifty day moving average is $73.60 and its 200-day moving average is $60.48. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.74. The stock has a market capitalization of $16.60 billion, a price-to-earnings ratio of 38.27 and a beta of 2.20. Amkor Technology has a one year low of $20.86 and a one year high of $96.68.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data 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. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.63 billion. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 earnings per share. Equities research analysts predict that Amkor Technology will post 2.08 EPS for the current year.

Amkor Technology Announces Dividend

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

Insider Buying and Selling

In related news, EVP Mark N. Rogers sold 5,000 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $71.63, for a total transaction of $358,150.00. Following the completion of the transaction, the executive vice president owned 38,904 shares in the company, valued at approximately $2,786,693.52. This represents a 11.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gil C. Tily sold 15,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $77.30, for a total value of $1,159,500.00. Following the transaction, the director directly owned 108,806 shares of the company’s stock, valued at approximately $8,410,703.80. The trade was a 12.12% 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 worth $8,631,450 in the last quarter. 26.40% of the stock is owned by insiders.

Institutional Trading of Amkor Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. raised its holdings in Amkor Technology by 12.5% in the first quarter. Bessemer Group Inc. now owns 1,216 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 135 shares in the last quarter. Arista Wealth Management LLC increased its position in shares of Amkor Technology by 1.2% in the 2nd quarter. Arista Wealth Management LLC now owns 13,642 shares of the semiconductor company’s stock valued at $1,176,000 after acquiring an additional 157 shares during the period. CoreCap Advisors LLC raised its stake 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 worth $38,000 after purchasing an additional 158 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake 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 worth $387,000 after acquiring an additional 202 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Amkor Technology by 0.6% during 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. Institutional investors own 42.76% of the company’s stock.

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.