Amkor Technology (NASDAQ:AMKR) Price Target Lowered to $34.00 at Needham & Company LLC

by · The Markets Daily

Amkor Technology (NASDAQ:AMKR – Free Report) had its target price trimmed by Needham & Company LLC from $45.00 to $34.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Other research analysts have also recently issued research reports about the stock. StockNews.com raised shares of Amkor Technology from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Morgan Stanley reduced their price objective on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. began coverage on Amkor Technology in a research note on Monday, July 1st. They issued an “overweight” rating and a $48.00 target price on the stock. Finally, KeyCorp reduced their price target on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.63.

Check Out Our Latest Analysis on Amkor Technology

Amkor Technology Stock Performance

Shares of AMKR opened at $27.98 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.83 and a current ratio of 2.08. The stock has a 50-day moving average of $30.62 and a two-hundred day moving average of $33.26. The stock has a market cap of $6.88 billion, a P/E ratio of 18.41 and a beta of 1.84. Amkor Technology has a one year low of $17.58 and a one year high of $44.86.

Amkor Technology (NASDAQ:AMKR – Get Free Report) last released its earnings results on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). Amkor Technology had a return on equity of 9.41% and a net margin of 5.87%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the firm earned $0.54 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, research analysts predict that Amkor Technology will post 1.55 EPS for the current year.

Amkor Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Tuesday, September 3rd were issued a $0.079 dividend. This represents a $0.32 annualized dividend and a yield of 1.13%. The ex-dividend date was Tuesday, September 3rd. Amkor Technology’s payout ratio is currently 20.39%.

Insider Transactions at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of Amkor Technology stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total value of $315,100.00. Following the sale, the chief executive officer now owns 204,971 shares of the company’s stock, valued at approximately $6,458,636.21. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Winston J. Churchill sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total value of $659,400.00. Following the transaction, the director now directly owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 10,000 shares of Amkor Technology stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total value of $315,100.00. Following the completion of the sale, the chief executive officer now owns 204,971 shares in the company, valued at approximately $6,458,636.21. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

Several hedge funds and other institutional investors have recently made changes to their positions in AMKR. 1620 Investment Advisors Inc. acquired a new position in Amkor Technology in the 2nd quarter valued at $31,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Amkor Technology during the second quarter worth $40,000. Headlands Technologies LLC purchased a new stake in shares of Amkor Technology during the first quarter worth $43,000. Larson Financial Group LLC raised its position in shares of Amkor Technology by 911.3% in the second quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 1,130 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new position in shares of Amkor Technology in the second quarter worth about $52,000. Hedge funds and other institutional investors own 42.76% of the company’s stock.

About Amkor Technology

(Get Free Report)

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.

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