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

Zacks Research upgraded shares of Amkor Technology (NASDAQ:AMKR) from a hold rating to a strong-buy rating in a research report report published on Monday,Zacks.com reports.

AMKR has been the subject of several other reports. Weiss Ratings restated a “hold (c)” rating on shares of Amkor Technology in a research note on Friday. Morgan Stanley upped their price target on shares of Amkor Technology from $45.00 to $69.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. The Goldman Sachs Group lifted their price objective on Amkor Technology from $43.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. UBS Group reaffirmed a “neutral” rating and set a $80.00 target price on shares of Amkor Technology in a report on Tuesday, May 26th. Finally, Needham & Company LLC lifted their price target on Amkor Technology from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $69.88.

Amkor Technology Trading Up 6.7%

NASDAQ:AMKR opened at $66.73 on Monday. The stock has a market capitalization of $16.54 billion, a price-to-earnings ratio of 38.13 and a beta of 2.20. Amkor Technology has a 52 week low of $20.86 and a 52 week high of $96.68. The company has a quick ratio of 1.74, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $73.76 and a 200 day moving average of $60.28.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.23 by $0.10. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the business posted $0.09 EPS. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amkor Technology will post 2.08 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd were issued a $0.0835 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.33 dividend on an annualized basis and a yield of 0.5%. Amkor Technology’s dividend payout ratio is presently 18.86%.

Insider Activity at Amkor Technology

In other news, Director Gil C. Tily sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $77.30, for a total transaction of $1,159,500.00. Following the completion of the transaction, the director directly owned 108,806 shares of the company’s stock, valued at $8,410,703.80. This represents a 12.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Winston J. Churchill sold 7,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $76.45, for a total value of $535,150.00. Following the transaction, the director owned 18,888 shares in the company, valued at $1,443,987.60. This trade represents a 27.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 114,000 shares of company stock valued at $8,631,450 in the last ninety days. 26.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amkor Technology

Large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its holdings in Amkor Technology by 18.4% during the third quarter. AQR Capital Management LLC now owns 4,211,529 shares of the semiconductor company’s stock valued at $119,607,000 after purchasing an additional 653,489 shares in the last quarter. State Street Corp increased its stake in shares of Amkor Technology by 1.4% during the fourth quarter. State Street Corp now owns 3,473,925 shares of the semiconductor company’s stock worth $137,151,000 after purchasing an additional 47,514 shares in the last quarter. First Trust Advisors LP raised its position in shares of Amkor Technology by 37.4% during the 4th quarter. First Trust Advisors LP now owns 2,722,310 shares of the semiconductor company’s stock worth $107,477,000 after purchasing an additional 740,701 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Amkor Technology by 19.3% during the 1st quarter. Principal Financial Group Inc. now owns 2,622,744 shares of the semiconductor company’s stock worth $118,107,000 after purchasing an additional 423,629 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Amkor Technology by 204.5% in the 4th quarter. Fisher Asset Management LLC now owns 2,095,027 shares of the semiconductor company’s stock valued at $82,712,000 after buying an additional 1,407,109 shares in the last quarter. 42.76% of the stock is currently owned by institutional investors and hedge funds.

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.