Amkor Technology (NASDAQ:AMKR) Price Target Increased to $34.00 by Analysts at Morgan Stanley

Amkor Technology (NASDAQ:AMKR) had its price target increased by analysts at Morgan Stanley from $32.00 to $34.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s target price points to a potential upside of 12.10% from the company’s current price.

A number of other brokerages have also commented on AMKR. The Goldman Sachs Group assumed coverage on shares of Amkor Technology in a report on Thursday, February 29th. They set a “neutral” rating and a $32.00 price target on the stock. Fox Advisors assumed coverage on shares of Amkor Technology in a report on Thursday, March 14th. They set an “equal weight” rating on the stock. B. Riley reiterated a “buy” rating and set a $45.00 price target (up previously from $43.00) on shares of Amkor Technology in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of Amkor Technology in a research note on Tuesday. Finally, DA Davidson lifted their target price on shares of Amkor Technology from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

Amkor Technology Stock Performance

Shares of Amkor Technology stock opened at $30.33 on Tuesday. Amkor Technology has a fifty-two week low of $17.58 and a fifty-two week high of $37.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.31 and a quick ratio of 2.02. The firm has a market capitalization of $7.46 billion, a P/E ratio of 19.89 and a beta of 1.96. The company’s 50 day moving average price is $31.65 and its two-hundred day moving average price is $29.80.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.13. Amkor Technology had a net margin of 5.84% and a return on equity of 9.63%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the business posted $0.18 earnings per share. The company’s quarterly revenue was down 7.2% on a year-over-year basis. On average, equities analysts forecast that Amkor Technology will post 1.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Amkor Technology

In other news, CFO Megan Faust sold 2,700 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $30.34, for a total transaction of $81,918.00. Following the completion of the sale, the chief financial officer now directly owns 38,811 shares of the company’s stock, valued at $1,177,525.74. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $31.23, for a total transaction of $780,750.00. Following the completion of the sale, the chief executive officer now directly owns 124,476 shares of the company’s stock, valued at $3,887,385.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Megan Faust sold 2,700 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $30.34, for a total transaction of $81,918.00. Following the transaction, the chief financial officer now owns 38,811 shares in the company, valued at $1,177,525.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,500 shares of company stock valued at $2,494,720. Corporate insiders own 31.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB boosted its holdings in Amkor Technology by 9.2% during the fourth quarter. Handelsbanken Fonder AB now owns 18,976 shares of the semiconductor company’s stock worth $631,000 after purchasing an additional 1,600 shares during the last quarter. Readystate Asset Management LP purchased a new position in Amkor Technology in the fourth quarter valued at about $4,694,000. Trexquant Investment LP purchased a new position in Amkor Technology in the third quarter valued at about $1,142,000. Invesco Ltd. boosted its stake in Amkor Technology by 12.3% in the third quarter. Invesco Ltd. now owns 1,318,158 shares of the semiconductor company’s stock valued at $29,790,000 after acquiring an additional 144,280 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in Amkor Technology in the third quarter valued at about $4,280,000. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

Amkor Technology Company Profile

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.