Zacks Investment Research upgraded shares of Amkor Technology Inc. (NASDAQ:AMKR) from a hold rating to a buy rating in a report released on Tuesday morning. Zacks Investment Research currently has $11.00 target price on the stock.
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. “
Other equities research analysts also recently issued research reports about the company. Credit Suisse Group AG restated a neutral rating on shares of Amkor Technology in a report on Tuesday, August 16th. Citigroup Inc. boosted their price objective on Amkor Technology from $5.00 to $6.20 and gave the company a sell rating in a report on Wednesday, August 3rd. Finally, Deutsche Bank AG upped their price target on Amkor Technology from $6.00 to $7.50 and gave the stock a hold rating in a report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Amkor Technology currently has an average rating of Hold and an average target price of $7.93.
Amkor Technology (NASDAQ:AMKR) opened at 9.35 on Tuesday. The firm’s 50-day moving average price is $9.29 and its 200 day moving average price is $7.07. The company has a market cap of $2.22 billion, a PE ratio of 82.74 and a beta of 2.30. Amkor Technology has a 52-week low of $4.09 and a 52-week high of $10.13.
Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings data on Monday, August 1st. The company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.10. The firm earned $917 million during the quarter, compared to the consensus estimate of $876.28 million. Amkor Technology had a return on equity of 3.00% and a net margin of 0.72%. The company’s quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 earnings per share. On average, equities analysts predict 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 on Thursday, August 4th. The stock was sold at an average price of $7.56, for a total transaction of $75,600.00. Following the completion of the sale, the director now owns 55,828 shares in the company, valued at $422,059.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Charles Stone sold 3,400 shares of the company’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $9.25, for a total value of $31,450.00. Following the sale, the insider now owns 3,400 shares of the company’s stock, valued at approximately $31,450. The disclosure for this sale can be found here. Corporate insiders own 58.70% of the company’s stock.
A number of large investors have recently made changes to their positions in AMKR. Renaissance Technologies LLC boosted its position in Amkor Technology by 73.7% in the first quarter. Renaissance Technologies LLC now owns 2,714,500 shares of the company’s stock valued at $15,988,000 after buying an additional 1,151,600 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Amkor Technology by 12.9% in the second quarter. Dimensional Fund Advisors LP now owns 9,458,265 shares of the company’s stock valued at $54,384,000 after buying an additional 1,078,260 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Amkor Technology by 30.4% in the first quarter. JPMorgan Chase & Co. now owns 3,984,705 shares of the company’s stock valued at $23,470,000 after buying an additional 929,822 shares in the last quarter. Bank of Montreal Can acquired a new position in Amkor Technology during the second quarter valued at $2,858,000. Finally, SECOR Capital Advisors LP acquired a new position in Amkor Technology during the second quarter valued at $2,802,000. Institutional investors and hedge funds 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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