Amkor Technology Inc. (AMKR) Upgraded to “Buy” by Zacks Investment Research
Amkor Technology Inc. (NASDAQ:AMKR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $11.00 price target on the stock. Zacks Investment Research’s price target indicates a potential upside of 16.65% from the stock’s current price.
According to Zacks, “Amkor is the world’s largest independent provider of semiconductor packaging and test services. Also, the company is one of the leading developers of advanced semiconductor packaging and test technology. The company offers one of the industry’s broadest integrated sets of packaging and test services, which are the final procedures necessary to prepare semiconductor devices for further use. Its customers outsource the packaging and testing of semiconductor chips to the company in order to benefit from the our expertise in the development and implementation. “
AMKR has been the topic of several other reports. Citigroup Inc. boosted their price objective on shares of Amkor Technology from $5.00 to $6.20 and gave the company a “sell” rating in a report on Wednesday, August 3rd. Credit Suisse Group AG reaffirmed a “neutral” rating on shares of Amkor Technology in a research report on Tuesday, August 16th. Finally, Deutsche Bank AG boosted their price target on shares of Amkor Technology from $6.00 to $7.50 and gave the stock a “hold” rating in a research note on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $7.93.
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Amkor Technology (NASDAQ:AMKR) traded down 3.78% during mid-day trading on Tuesday, hitting $9.43. 949,139 shares of the company’s stock traded hands. The stock has a market cap of $2.24 billion, a PE ratio of 83.45 and a beta of 2.29. The firm’s 50-day moving average price is $9.28 and its 200-day moving average price is $7.03. Amkor Technology has a one year low of $4.09 and a one year high of $10.13.
Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.10. The firm had revenue of $917 million for the quarter, compared to analyst estimates of $876.28 million. Amkor Technology had a net margin of 0.72% and a return on equity of 3.00%. Amkor Technology’s revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 EPS. On average, analysts forecast that Amkor Technology will post $0.42 EPS for the current fiscal year.
In related news, Director James W. Zug sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $7.56, for a total transaction of $75,600.00. Following the sale, the director now directly owns 55,828 shares in the company, valued at $422,059.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Charles Stone sold 6,600 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $9.25, for a total transaction of $61,050.00. Following the sale, the insider now owns 6,600 shares in the company, valued at $61,050. The disclosure for this sale can be found here. Company insiders own 58.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in Amkor Technology by 30.4% in the first quarter. JPMorgan Chase & Co. now owns 3,984,705 shares of the company’s stock worth $23,470,000 after buying an additional 929,822 shares during the last quarter. Landscape Capital Management L.L.C. raised its stake in Amkor Technology by 878.6% in the first quarter. Landscape Capital Management L.L.C. now owns 159,700 shares of the company’s stock worth $941,000 after buying an additional 143,380 shares during the last quarter. Zebra Capital Management LLC raised its stake in Amkor Technology by 5.7% in the first quarter. Zebra Capital Management LLC now owns 173,169 shares of the company’s stock worth $1,020,000 after buying an additional 9,293 shares during the last quarter. Renaissance Technologies LLC raised its stake in Amkor Technology by 73.7% in the first quarter. Renaissance Technologies LLC now owns 2,714,500 shares of the company’s stock worth $15,988,000 after buying an additional 1,151,600 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Amkor Technology during the second quarter worth $137,000. Hedge funds and other institutional investors own 31.95% of the company’s stock.
Amkor Technology Company Profile
Amkor Technology, Inc is a provider of outsourced semiconductor packaging and test services. The Company’s packaging and test services are designed to meet application and chip specific requirements, including the type of interconnect technology employed, size, thickness and electrical, and mechanical and thermal performance.
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