Brokerages Set Amkor Technology, Inc. (NASDAQ:AMKR) Target Price at $34.33

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) have been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $34.33.

A number of brokerages recently weighed in on AMKR. Fox Advisors began coverage on Amkor Technology in a research report on Thursday, March 14th. They set an “equal weight” rating on the stock. The Goldman Sachs Group began coverage on Amkor Technology in a research report on Thursday, February 29th. They set a “neutral” rating and a $32.00 price objective on the stock. Finally, Needham & Company LLC began coverage on Amkor Technology in a research report on Tuesday, April 9th. They set a “buy” rating and a $40.00 price objective on the stock.

Amkor Technology Price Performance

AMKR opened at $30.09 on Friday. Amkor Technology has a 12-month low of $17.58 and a 12-month high of $37.00. The company has a current ratio of 2.31, a quick ratio of 2.02 and a debt-to-equity ratio of 0.27. The business’s fifty day simple moving average is $31.57 and its 200-day simple moving average is $29.53. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of 20.61 and a beta of 1.96.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings data on Monday, February 12th. The semiconductor company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. Amkor Technology had a return on equity of 9.37% and a net margin of 5.53%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the company earned $0.67 earnings per share. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, equities research analysts anticipate that Amkor Technology will post 1.63 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were issued a $0.079 dividend. This represents a $0.32 annualized dividend and a yield of 1.05%. The ex-dividend date was Monday, March 11th. Amkor Technology’s dividend payout ratio is presently 21.23%.

Insiders Place Their Bets

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $30.63, for a total value of $765,750.00. Following the completion of the sale, the chief executive officer now owns 123,728 shares of the company’s stock, valued at $3,789,788.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $30.63, for a total transaction of $765,750.00. Following the completion of the sale, the chief executive officer now owns 123,728 shares of the company’s stock, valued at $3,789,788.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Megan Faust sold 2,800 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $31.09, for a total value of $87,052.00. Following the completion of the transaction, the chief financial officer now directly owns 53,023 shares of the company’s stock, valued at $1,648,485.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,500 shares of company stock valued at $2,494,720. 31.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Whalen Wealth Management Inc. acquired a new position in Amkor Technology in the first quarter valued at approximately $238,000. Louisiana State Employees Retirement System lifted its holdings in Amkor Technology by 2.4% in the first quarter. Louisiana State Employees Retirement System now owns 29,700 shares of the semiconductor company’s stock valued at $958,000 after acquiring an additional 700 shares during the period. State of Michigan Retirement System lifted its holdings in Amkor Technology by 2.4% in the first quarter. State of Michigan Retirement System now owns 25,349 shares of the semiconductor company’s stock valued at $817,000 after acquiring an additional 600 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Amkor Technology by 104.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 16,904 shares of the semiconductor company’s stock valued at $545,000 after acquiring an additional 8,617 shares during the period. Finally, Atlas Capital Advisors LLC raised its stake in shares of Amkor Technology by 119.3% during the 1st quarter. Atlas Capital Advisors LLC now owns 8,116 shares of the semiconductor company’s stock worth $262,000 after buying an additional 4,415 shares during the period. 42.76% of the stock is owned by institutional investors and hedge funds.

About Amkor Technology

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.