Brokerages Set Amkor Technology, Inc. (NASDAQ:AMKR) Target Price at $67.38

Amkor Technology, Inc. (NASDAQ:AMKR) has earned an average rating of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $67.3750.

Several equities analysts recently weighed in on AMKR shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amkor Technology in a research report on Monday, April 20th. Morgan Stanley raised their price target on shares of Amkor Technology from $45.00 to $69.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. raised their price target on shares of Amkor Technology from $32.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. Zacks Research cut shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Finally, Melius Research raised shares of Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Monday, April 6th.

Insiders Place Their Bets

In related news, Director Douglas A. Alexander sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $76.58, for a total value of $382,900.00. Following the transaction, the director owned 29,109 shares of the company’s stock, valued at approximately $2,229,167.22. This trade represents a 14.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Guillaume Marie Jean Rutten sold 50,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $74.28, for a total transaction of $3,714,000.00. Following the completion of the transaction, the director directly owned 502,558 shares in the company, valued at approximately $37,330,008.24. The trade was a 9.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 113,000 shares of company stock worth $8,258,950 in the last 90 days. Company insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

Hedge funds have recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its position in shares of Amkor Technology by 180.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company’s stock worth $28,000 after buying an additional 440 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Amkor Technology by 72.1% during the 3rd quarter. Bessemer Group Inc. now owns 933 shares of the semiconductor company’s stock worth $26,000 after buying an additional 391 shares in the last quarter. Root Financial Partners LLC lifted its position in shares of Amkor Technology by 38.8% during the 4th quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company’s stock worth $37,000 after buying an additional 262 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Amkor Technology by 91.2% during the 3rd quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company’s stock worth $27,000 after buying an additional 447 shares in the last quarter. Finally, Hollencrest Capital Management bought a new position in shares of Amkor Technology during the 1st quarter worth approximately $45,000. Institutional investors own 42.76% of the company’s stock.

Amkor Technology Stock Performance

Shares of AMKR opened at $64.95 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.74. The stock has a 50-day moving average of $65.06 and a 200-day moving average of $52.07. The company has a market cap of $16.10 billion, a PE ratio of 37.11 and a beta of 2.25. Amkor Technology has a one year low of $19.07 and a one year high of $79.50.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, April 27th. The semiconductor company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.23 by $0.10. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.63 billion. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The firm’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period last year, the business posted $0.09 EPS. On average, equities research analysts predict that Amkor Technology will post 2.08 EPS for the current fiscal year.

Amkor Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd will be given a $0.0835 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $0.33 annualized dividend and a yield of 0.5%. Amkor Technology’s dividend payout ratio (DPR) is presently 18.86%.

Amkor Technology Company Profile

Amkor Technology, Inc (NASDAQ:AMKR) is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.