Amkor Technology (NASDAQ:AMKR) Rating Reiterated by B. Riley

Amkor Technology (NASDAQ:AMKR)‘s stock had its “buy” rating reaffirmed by investment analysts at B. Riley in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $45.00 target price on the semiconductor company’s stock, up from their prior target price of $43.00. B. Riley’s target price indicates a potential upside of 48.37% from the company’s previous close. B. Riley also issued estimates for Amkor Technology’s Q3 2024 earnings at $0.62 EPS, Q4 2024 earnings at $0.68 EPS, FY2024 earnings at $1.75 EPS, Q1 2025 earnings at $0.31 EPS, Q2 2025 earnings at $0.41 EPS and Q4 2025 earnings at $0.87 EPS.

Other equities analysts have also issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of Amkor Technology in a report on Tuesday. Fox Advisors started coverage on shares of Amkor Technology in a research note on Thursday, March 14th. They issued an “equal weight” rating on the stock. Finally, The Goldman Sachs Group started coverage on shares of Amkor Technology in a research note on Thursday, February 29th. They issued a “neutral” rating and a $32.00 price target on the stock. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Amkor Technology has an average rating of “Moderate Buy” and a consensus price target of $37.67.

Amkor Technology Stock Performance

AMKR opened at $30.33 on Tuesday. 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 firm has a market capitalization of $7.46 billion, a PE ratio of 19.89 and a beta of 1.96. The firm has a 50 day moving average of $31.65 and a two-hundred day moving average of $29.80.

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

Insiders Place Their Bets

In other Amkor Technology news, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction on Friday, February 16th. The shares were sold at an average price of $30.34, for a total transaction of $81,918.00. Following the sale, the chief financial officer now owns 38,811 shares of the company’s stock, valued at approximately $1,177,525.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $30.63, for a total transaction of $765,750.00. Following the transaction, the chief executive officer now owns 123,728 shares in the company, valued at approximately $3,789,788.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction on Friday, February 16th. The stock was sold at an average price of $30.34, for a total value of $81,918.00. Following the transaction, the chief financial officer now owns 38,811 shares in the company, valued at approximately $1,177,525.74. The disclosure for this sale can be found here. Insiders have sold a total of 80,500 shares of company stock valued at $2,494,720 in the last 90 days. 31.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMKR. Vanguard Group Inc. raised its holdings in shares of Amkor Technology by 10.4% during the 3rd quarter. Vanguard Group Inc. now owns 13,797,154 shares of the semiconductor company’s stock worth $311,816,000 after acquiring an additional 1,300,745 shares during the period. Norges Bank purchased a new stake in Amkor Technology in the 4th quarter valued at about $39,224,000. TT International Asset Management LTD purchased a new stake in Amkor Technology in the 4th quarter valued at about $30,284,000. AQR Capital Management LLC raised its holdings in Amkor Technology by 39.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,939,583 shares of the semiconductor company’s stock valued at $43,835,000 after buying an additional 547,604 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new stake in Amkor Technology in the 3rd quarter valued at about $10,015,000. Hedge funds and other institutional investors own 42.76% of the company’s stock.

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.