Amkor Technology (NASDAQ:AMKR) Price Target Raised to $34.00 at Morgan Stanley

Amkor Technology (NASDAQ:AMKR) had its target price raised by Morgan Stanley from $32.00 to $34.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

A number of other brokerages have also recently weighed in on AMKR. The Goldman Sachs Group began coverage on Amkor Technology in a research report on Thursday, February 29th. They issued a neutral rating and a $32.00 price target on the stock. DA Davidson increased their target price on shares of Amkor Technology from $35.00 to $40.00 and gave the stock a buy rating in a research report on Tuesday. Fox Advisors initiated coverage on shares of Amkor Technology in a research report on Thursday, March 14th. They issued an equal weight rating on the stock. B. Riley reaffirmed a buy rating and set a $45.00 price objective (up previously from $43.00) on shares of Amkor Technology in a report on Tuesday. Finally, Needham & Company LLC reiterated a buy rating and issued a $40.00 target price on shares of Amkor Technology in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $37.00.

Amkor Technology Price Performance

Shares of Amkor Technology stock opened at $32.35 on Tuesday. The firm has a market cap of $7.95 billion, a P/E ratio of 22.16 and a beta of 1.96. The firm’s 50-day simple moving average is $31.60 and its 200-day simple moving average is $29.73. Amkor Technology has a twelve month low of $17.58 and a twelve month high of $37.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.02 and a current ratio of 2.31.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.13. Amkor Technology had a net margin of 5.53% and a return on equity of 9.37%. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the company earned $0.18 earnings per share. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, research analysts expect that Amkor Technology will post 1.63 EPS for the current fiscal year.

Amkor Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were paid a $0.079 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Monday, March 11th. Amkor Technology’s dividend payout ratio is presently 21.23%.

Insider Transactions at Amkor Technology

In related news, CFO Megan Faust sold 2,700 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $30.34, for a total value of $81,918.00. Following the completion of the transaction, the chief financial officer now owns 38,811 shares in the company, valued at approximately $1,177,525.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $30.34, for a total value of $81,918.00. Following the transaction, the chief financial officer now owns 38,811 shares in the company, valued at $1,177,525.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $31.23, for a total value of $780,750.00. Following the completion of the sale, the chief executive officer now owns 124,476 shares of the company’s stock, valued at $3,887,385.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,500 shares of company stock worth $2,494,720. Corporate insiders own 31.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

A number of institutional investors and hedge funds have recently modified their holdings of AMKR. SummerHaven Investment Management LLC grew its holdings in Amkor Technology by 1.4% during the 4th quarter. SummerHaven Investment Management LLC now owns 24,548 shares of the semiconductor company’s stock worth $817,000 after acquiring an additional 327 shares during the period. Retirement Systems of Alabama boosted its position in shares of Amkor Technology by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 129,621 shares of the semiconductor company’s stock worth $4,179,000 after purchasing an additional 344 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Amkor Technology by 65.8% during the fourth quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 347 shares during the period. Arizona State Retirement System grew its stake in shares of Amkor Technology by 1.4% during the third quarter. Arizona State Retirement System now owns 31,473 shares of the semiconductor company’s stock worth $711,000 after purchasing an additional 428 shares during the period. Finally, Assetmark Inc. increased its holdings in Amkor Technology by 3.5% in the fourth quarter. Assetmark Inc. now owns 12,874 shares of the semiconductor company’s stock valued at $428,000 after purchasing an additional 438 shares during the last quarter. 42.76% of the stock is owned by 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.