Amkor Technology (NASDAQ:AMKR) Given New $42.00 Price Target at JPMorgan Chase & Co.

Amkor Technology (NASDAQ:AMKR) had its price objective cut by JPMorgan Chase & Co. from $48.00 to $42.00 in a report published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

Several other brokerages also recently weighed in on AMKR. Needham & Company LLC dropped their target price on Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday. StockNews.com upgraded shares of Amkor Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Morgan Stanley cut their price target on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, KeyCorp dropped their price objective on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $35.63.

Amkor Technology Stock Performance

Shares of NASDAQ:AMKR opened at $27.98 on Tuesday. The company has a quick ratio of 1.83, a current ratio of 2.08 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 18.41 and a beta of 1.84. The firm has a 50 day moving average of $30.62 and a 200 day moving average of $33.26. Amkor Technology has a 52 week low of $17.58 and a 52 week high of $44.86.

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

Amkor Technology Announces Dividend

The firm also recently declared 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 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 dated Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total value of $659,400.00. Following the sale, the director now 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In other Amkor Technology news, Director Winston J. Churchill sold 20,000 shares of the company’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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total transaction of $315,100.00. Following the sale, the chief executive officer now directly owns 204,971 shares in the company, valued at $6,458,636.21. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 31.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Amkor Technology by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 14,976,630 shares of the semiconductor company’s stock worth $482,847,000 after purchasing an additional 219,638 shares during the period. Earnest Partners LLC increased its position in shares of Amkor Technology by 3.2% in the second quarter. Earnest Partners LLC now owns 2,423,255 shares of the semiconductor company’s stock valued at $96,979,000 after buying an additional 75,364 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Amkor Technology by 54.4% during the 2nd quarter. American Century Companies Inc. now owns 1,673,314 shares of the semiconductor company’s stock valued at $66,966,000 after buying an additional 589,530 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in Amkor Technology in the 2nd quarter valued at $58,379,000. Finally, Ceredex Value Advisors LLC purchased a new stake in Amkor Technology in the 3rd quarter worth $42,610,000. 42.76% of the stock is owned by hedge funds and other institutional investors.

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.