Amkor Technology (NASDAQ:AMKR) Price Target Lowered to $26.00 at Morgan Stanley

Amkor Technology (NASDAQ:AMKR) had its price target lowered by Morgan Stanley from $35.00 to $26.00 in a research report report published on Tuesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the semiconductor company’s stock.

Several other research analysts have also commented on AMKR. KeyCorp lowered their price objective on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday. StockNews.com raised shares of Amkor Technology from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. started coverage on Amkor Technology in a research report on Monday, July 1st. They set an “overweight” rating and a $48.00 price objective on the stock. Finally, Needham & Company LLC lifted their target price on Amkor Technology from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.63.

Amkor Technology Stock Performance

Shares of AMKR stock 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 firm has a market cap of $6.88 billion, a P/E ratio of 18.41 and a beta of 1.84. The firm’s 50 day moving average price is $30.62 and its 200-day moving average price is $33.26. Amkor Technology has a one year low of $17.58 and a one year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.01). The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Amkor Technology had a return on equity of 9.41% and a net margin of 5.87%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. As a group, equities research analysts predict that Amkor Technology will post 1.55 EPS for the current year.

Amkor Technology Dividend Announcement

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

Insider Transactions at Amkor Technology

In other Amkor Technology news, Director Winston J. Churchill sold 20,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $655,146.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the business’s 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 directly owns 204,971 shares of the company’s stock, valued at approximately $6,458,636.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Winston J. Churchill sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total value of $659,400.00. Following the transaction, the director now owns 19,871 shares in the company, valued at $655,146.87. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

Large investors have recently modified their holdings of the company. M&G Plc acquired a new stake in Amkor Technology during the 1st quarter worth $11,435,000. Duality Advisers LP acquired a new stake in shares of Amkor Technology during the first quarter worth about $849,000. Capital World Investors acquired a new stake in shares of Amkor Technology during the first quarter worth about $9,288,000. Vanguard Group Inc. grew its holdings in shares of Amkor Technology by 1.5% during the first quarter. Vanguard Group Inc. now owns 14,976,630 shares of the semiconductor company’s stock worth $482,847,000 after buying an additional 219,638 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Amkor Technology in the 1st quarter valued at about $1,257,000. 42.76% of the stock is owned by institutional investors and hedge funds.

Amkor Technology Company Profile

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.