Amkor Technology, Inc. (NASDAQ:AMKR) Receives $36.29 Average PT from Brokerages

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $36.29.

Several equities research analysts recently issued reports on the company. DA Davidson cut their price target on Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Morgan Stanley decreased their price target on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. JPMorgan Chase & Co. cut their price objective on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. The Goldman Sachs Group decreased their target price on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Finally, KeyCorp reduced their price target on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th.

Insiders Place Their Bets

In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of Amkor Technology stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total transaction of $315,100.00. Following the sale, the chief executive officer now directly owns 204,971 shares of the company’s stock, valued at approximately $6,458,636.21. This trade represents a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 31.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AMKR. Principal Financial Group Inc. increased its holdings in Amkor Technology by 212.6% in the third quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company’s stock valued at $41,647,000 after purchasing an additional 925,644 shares during the period. Retirement Systems of Alabama boosted its holdings in Amkor Technology by 7.9% in the third quarter. Retirement Systems of Alabama now owns 137,679 shares of the semiconductor company’s stock valued at $4,213,000 after acquiring an additional 10,069 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Amkor Technology during the 3rd quarter valued at approximately $930,000. Geode Capital Management LLC boosted its stake in shares of Amkor Technology by 6.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,094,296 shares of the semiconductor company’s stock valued at $64,101,000 after purchasing an additional 131,106 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Amkor Technology by 99.5% during the third quarter. Barclays PLC now owns 405,400 shares of the semiconductor company’s stock worth $12,406,000 after buying an additional 202,218 shares during the period. Institutional investors own 42.76% of the company’s stock.

Amkor Technology Stock Performance

AMKR opened at $26.06 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84. The business has a fifty day simple moving average of $26.75 and a 200 day simple moving average of $31.53. Amkor Technology has a 1 year low of $24.10 and a 1 year high of $44.86. The company has a market capitalization of $6.43 billion, a PE ratio of 17.61 and a beta of 1.84.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.01). Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the company posted $0.54 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. Research analysts expect that Amkor Technology will post 1.42 EPS for the current year.

Amkor Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, December 4th were given a $0.0827 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $0.33 dividend on an annualized basis and a yield of 1.27%. This is a positive change from Amkor Technology’s previous quarterly dividend of $0.08. Amkor Technology’s dividend payout ratio (DPR) is currently 22.30%.

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.