Amkor Technology (NASDAQ:AMKR) Stock Rating Upgraded by KeyCorp

KeyCorp upgraded shares of Amkor Technology (NASDAQ:AMKR) to a strong-buy rating in a research note published on Thursday, Zacks.com reports.

Several other brokerages have also weighed in on AMKR. JPMorgan Chase & Co. initiated coverage on Amkor Technology in a research report on Monday, July 1st. They issued an overweight rating and a $48.00 price objective for the company. Needham & Company LLC increased their price target on Amkor Technology from $40.00 to $45.00 and gave the stock a buy rating in a report on Tuesday, July 30th. B. Riley raised their price objective on Amkor Technology from $45.00 to $50.00 and gave the stock a buy rating in a research report on Thursday, June 20th. Finally, Morgan Stanley upped their target price on shares of Amkor Technology from $34.00 to $38.00 and gave the company an equal weight rating in a research report on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $40.75.

Amkor Technology Stock Down 2.2 %

NASDAQ AMKR opened at $30.96 on Thursday. The business’s fifty day simple moving average is $33.12 and its 200-day simple moving average is $33.65. The company has a quick ratio of 1.83, a current ratio of 2.08 and a debt-to-equity ratio of 0.23. The firm has a market cap of $7.61 billion, a PE ratio of 20.37 and a beta of 1.85. Amkor Technology has a 52 week low of $17.58 and a 52 week high of $44.86.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, July 29th. The semiconductor company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. Amkor Technology’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 earnings per share. As a group, equities analysts anticipate that Amkor Technology will post 1.53 earnings per share for the current year.

Amkor Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.079 per share. This represents a $0.32 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Tuesday, September 3rd. Amkor Technology’s payout ratio is currently 20.39%.

Insider Activity at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $42.94, for a total transaction of $1,073,500.00. Following the sale, the chief executive officer now directly owns 128,333 shares in the company, valued at $5,510,619.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Amkor Technology news, Director Winston J. Churchill sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total value of $659,400.00. Following the sale, the director now directly owns 19,871 shares in the company, valued at $655,146.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $42.94, for a total value of $1,073,500.00. Following the transaction, the chief executive officer now directly owns 128,333 shares of the company’s stock, valued at $5,510,619.02. The disclosure for this sale can be found here. 31.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amkor Technology

Several institutional investors have recently added to or reduced their stakes in AMKR. Driehaus Capital Management LLC purchased a new stake in Amkor Technology in the second quarter valued at $58,379,000. Norges Bank purchased a new stake in shares of Amkor Technology in the 4th quarter valued at about $39,224,000. Millennium Management LLC boosted its position in shares of Amkor Technology by 359.7% in the 2nd quarter. Millennium Management LLC now owns 1,360,292 shares of the semiconductor company’s stock valued at $54,439,000 after purchasing an additional 1,064,404 shares during the period. Vanguard Group Inc. grew its stake in Amkor Technology by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 14,756,992 shares of the semiconductor company’s stock worth $490,965,000 after buying an additional 959,838 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Amkor Technology by 54.4% during the second quarter. American Century Companies Inc. now owns 1,673,314 shares of the semiconductor company’s stock worth $66,966,000 after buying an additional 589,530 shares during the period. 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.