StockNews.com Upgrades Amkor Technology (NASDAQ:AMKR) to “Buy”

StockNews.com upgraded shares of Amkor Technology (NASDAQ:AMKR) from a hold rating to a buy rating in a research note published on Tuesday.

A number of other brokerages also recently weighed in on AMKR. B. Riley lifted their target price on Amkor Technology from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. KeyCorp started coverage on shares of Amkor Technology in a report on Friday, September 20th. They issued an “overweight” rating and a $38.00 price objective for the company. Morgan Stanley lifted their price target on Amkor Technology from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 2nd. Needham & Company LLC raised their price target on shares of Amkor Technology from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. began coverage on Amkor Technology in a report on Monday, July 1st. They issued an “overweight” rating and a $48.00 target price for the company. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Amkor Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.75.

Amkor Technology Stock Down 1.4 %

AMKR opened at $30.53 on Tuesday. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 20.09 and a beta of 1.84. The company has a current ratio of 2.08, a quick ratio of 1.83 and a debt-to-equity ratio of 0.23. Amkor Technology has a 1-year low of $17.58 and a 1-year high of $44.86. The business has a 50 day moving average of $31.02 and a 200-day moving average of $33.36.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the previous year, the company earned $0.26 EPS. Amkor Technology’s revenue was up .2% on a year-over-year basis. As a group, sell-side analysts anticipate that Amkor Technology will post 1.55 earnings per share for the current year.

Amkor Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.079 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Tuesday, September 3rd. Amkor Technology’s dividend payout ratio is presently 20.39%.

Insider Buying and Selling at Amkor Technology

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its position in shares of Amkor Technology by 4.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,410,504 shares of the semiconductor company’s stock worth $46,927,000 after acquiring an additional 63,104 shares in the last quarter. M&G Plc bought a new stake in Amkor Technology during the 1st quarter valued at $11,435,000. Duality Advisers LP bought a new stake in shares of Amkor Technology during the first quarter valued at about $849,000. Capital World Investors bought a new position in shares of Amkor Technology in the first quarter valued at approximately $9,288,000. Finally, Vanguard Group Inc. boosted its stake in Amkor Technology by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 14,976,630 shares of the semiconductor company’s stock valued at $482,847,000 after purchasing an additional 219,638 shares in the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

About Amkor Technology

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.