The Goldman Sachs Group Boosts Amkor Technology (NASDAQ:AMKR) Price Target to $36.00

Amkor Technology (NASDAQ:AMKR) had its price objective upped by The Goldman Sachs Group from $32.00 to $36.00 in a report published on Wednesday, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

Several other brokerages have also recently commented on AMKR. B. Riley reissued a buy rating and set a $45.00 price target (up from $43.00) on shares of Amkor Technology in a research report on Tuesday. Fox Advisors started coverage on shares of Amkor Technology in a research report on Thursday, March 14th. They issued an equal weight rating for the company. DA Davidson increased their price target on Amkor Technology from $35.00 to $40.00 and gave the company a buy rating in a research note on Tuesday. Needham & Company LLC reissued a buy rating and issued a $40.00 price objective on shares of Amkor Technology in a research report on Tuesday. Finally, Morgan Stanley upped their price target on shares of Amkor Technology from $32.00 to $34.00 and gave the company an equal weight rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $37.67.

Amkor Technology Stock Performance

Shares of NASDAQ:AMKR opened at $32.34 on Wednesday. Amkor Technology has a fifty-two week low of $17.58 and a fifty-two week high of $37.00. The company has a market capitalization of $7.95 billion, a price-to-earnings ratio of 21.28 and a beta of 1.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.34 and a quick ratio of 2.02. The firm’s 50 day simple moving average is $31.67 and its 200 day simple moving average is $29.82.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly 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 9.53%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The business’s revenue was down 7.2% on a year-over-year basis. As a group, sell-side analysts forecast that Amkor Technology will post 1.78 earnings per share for the current year.

Amkor Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were issued a dividend of $0.079 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Monday, March 11th. Amkor Technology’s dividend payout ratio (DPR) is presently 20.39%.

Insider Buying and Selling at Amkor Technology

In other news, EVP Mark N. Rogers sold 5,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $31.30, for a total value of $156,500.00. Following the completion of the transaction, the executive vice president now directly owns 25,280 shares in the company, valued at approximately $791,264. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $31.17, for a total value of $779,250.00. Following the completion of the transaction, the chief executive officer now directly owns 114,476 shares in the company, valued at approximately $3,568,216.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark N. Rogers sold 5,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $31.30, for a total transaction of $156,500.00. Following the completion of the sale, the executive vice president now directly owns 25,280 shares in the company, valued at approximately $791,264. The disclosure for this sale can be found here. Insiders have sold a total of 85,500 shares of company stock worth $2,651,220 over the last 90 days. Insiders own 31.40% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

A number of hedge funds have recently made changes to their positions in AMKR. Allworth Financial LP boosted its holdings in shares of Amkor Technology by 1,324.6% during the 4th quarter. Allworth Financial LP now owns 812 shares of the semiconductor company’s stock worth $27,000 after buying an additional 755 shares in the last quarter. Pineridge Advisors LLC purchased a new position in shares of Amkor Technology in the 4th quarter worth approximately $28,000. Fifth Third Bancorp lifted its holdings in Amkor Technology by 65.8% during the fourth quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 347 shares during the period. Parkside Financial Bank & Trust grew its stake in Amkor Technology by 1,414.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 863 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 806 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Amkor Technology by 57.0% during the 4th quarter. Blue Trust Inc. now owns 1,487 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 540 shares during the last quarter. 42.76% of the stock is currently owned by institutional investors.

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.