Amkor Technology (NASDAQ:AMKR) Upgraded to Strong-Buy at Zacks Research

Amkor Technology (NASDAQ:AMKR) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other equities research analysts also recently weighed in on AMKR. Needham & Company LLC upped their target price on Amkor Technology from $37.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. UBS Group cut Amkor Technology from a “buy” rating to a “neutral” rating and upped their price target for the stock from $38.00 to $55.00 in a report on Monday, January 12th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Amkor Technology in a research note on Friday, January 9th. JPMorgan Chase & Co. upped their target price on shares of Amkor Technology from $27.00 to $32.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Finally, Wall Street Zen lowered shares of Amkor Technology from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $39.14.

Amkor Technology Price Performance

Amkor Technology stock opened at $50.96 on Tuesday. The firm has a fifty day moving average of $43.80 and a 200-day moving average of $33.11. Amkor Technology has a 52-week low of $14.03 and a 52-week high of $55.17. The company has a quick ratio of 1.60, a current ratio of 1.77 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $12.60 billion, a P/E ratio of 40.77 and a beta of 1.99.

Amkor Technology (NASDAQ:AMKR) last posted its earnings results on Monday, October 27th. The semiconductor company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.09. Amkor Technology had a net margin of 4.77% and a return on equity of 7.26%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the previous year, the business posted $0.49 EPS. The business’s quarterly revenue was up 6.7% on a year-over-year basis. As a group, analysts predict that Amkor Technology will post 1.47 EPS for the current year.

Insiders Place Their Bets

In other news, Director Maryfrances Mccourt sold 20,000 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $46.02, for a total transaction of $920,400.00. Following the transaction, the director owned 55,918 shares of the company’s stock, valued at approximately $2,573,346.36. This trade represents a 26.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gil C. Tily sold 20,000 shares of Amkor Technology stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $46.44, for a total value of $928,800.00. Following the completion of the transaction, the director owned 123,806 shares of the company’s stock, valued at $5,749,550.64. This trade represents a 13.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 96,000 shares of company stock worth $4,085,910. Company insiders own 26.90% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

A number of hedge funds have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC acquired a new stake in shares of Amkor Technology during the third quarter worth $25,000. Bessemer Group Inc. raised its stake in Amkor Technology by 72.1% during the third quarter. Bessemer Group Inc. now owns 933 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 391 shares during the period. IFP Advisors Inc lifted its holdings in Amkor Technology by 91.2% in the third quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 447 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in Amkor Technology by 1,050.4% in the second quarter. Hantz Financial Services Inc. now owns 1,369 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 1,250 shares during the last quarter. Finally, FNY Investment Advisers LLC boosted its stake in Amkor Technology by 83.5% in the third quarter. FNY Investment Advisers LLC now owns 1,472 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 670 shares during the period. Institutional investors and hedge funds own 42.76% of the company’s stock.

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.