Amkor Technology, Inc. (NASDAQ:AMKR) Receives $62.75 Consensus Target Price from Brokerages

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) have been assigned an average rating of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $62.75.

Several analysts have recently issued reports on AMKR shares. Melius Research upgraded shares of Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Monday, April 6th. JPMorgan Chase & Co. upped their target price on shares of Amkor Technology from $32.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Amkor Technology in a report on Monday, April 20th. Morgan Stanley boosted their price target on shares of Amkor Technology from $45.00 to $69.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Finally, The Goldman Sachs Group boosted their price target on shares of Amkor Technology from $43.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th.

Insider Buying and Selling

In related news, Director Gil C. Tily sold 15,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $77.30, for a total value of $1,159,500.00. Following the transaction, the director directly owned 108,806 shares of the company’s stock, valued at approximately $8,410,703.80. The trade was a 12.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin K. Engel sold 12,500 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $48.75, for a total transaction of $609,375.00. Following the completion of the transaction, the chief executive officer directly owned 2,953 shares in the company, valued at $143,958.75. This trade represents a 80.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 139,500 shares of company stock worth $9,421,575 in the last ninety days. Corporate insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

Institutional investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. lifted its holdings in Amkor Technology by 72.1% during the third quarter. Bessemer Group Inc. now owns 933 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 391 shares during the last quarter. IFP Advisors Inc lifted its holdings in Amkor Technology by 91.2% during the third quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 447 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Amkor Technology by 180.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 440 shares during the last quarter. Root Financial Partners LLC lifted its holdings in Amkor Technology by 38.8% during the fourth quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 262 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in Amkor Technology by 61.8% during the first quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 854 shares during the last quarter. 42.76% of the stock is owned by hedge funds and other institutional investors.

Amkor Technology Stock Performance

NASDAQ:AMKR opened at $74.61 on Friday. The company has a fifty day moving average of $56.71 and a 200-day moving average of $47.75. The firm has a market capitalization of $18.49 billion, a P/E ratio of 42.63 and a beta of 2.29. The company has a quick ratio of 1.74, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. Amkor Technology has a twelve month low of $17.79 and a twelve month high of $79.23.

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

Amkor Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd will be issued a $0.0835 dividend. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, June 3rd. Amkor Technology’s payout ratio is 18.86%.

About Amkor Technology

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.