Amkor Technology (NASDAQ:AMKR) Given New $26.00 Price Target at Morgan Stanley

Amkor Technology (NASDAQ:AMKR) had its price target lowered by Morgan Stanley from $35.00 to $26.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has an equal weight rating on the semiconductor company’s stock.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. began coverage on shares of Amkor Technology in a research note on Monday, July 1st. They issued an “overweight” rating and a $48.00 price objective for the company. Needham & Company LLC boosted their price target on Amkor Technology from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. KeyCorp dropped their price objective on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, StockNews.com upgraded shares of Amkor Technology from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Amkor Technology presently has an average rating of “Moderate Buy” and an average target price of $35.63.

Amkor Technology Price Performance

Shares of AMKR stock opened at $26.00 on Tuesday. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 17.57 and a beta of 1.84. The company has a current ratio of 2.06, a quick ratio of 1.83 and a debt-to-equity ratio of 0.21. Amkor Technology has a twelve month low of $21.92 and a twelve month high of $44.86. The stock has a fifty day simple moving average of $30.21 and a two-hundred day simple moving average of $33.13.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.01). Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company earned $0.54 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. On average, analysts predict that Amkor Technology will post 1.42 EPS for the current fiscal year.

Amkor Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Tuesday, September 3rd were issued a $0.079 dividend. This represents a $0.32 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Tuesday, September 3rd. Amkor Technology’s dividend payout ratio is presently 20.95%.

Insider Transactions at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of Amkor Technology stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total value of $315,100.00. Following the completion of the sale, the chief executive officer now directly owns 204,971 shares in the company, valued at $6,458,636.21. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Amkor Technology news, Director Winston J. Churchill sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total transaction of $659,400.00. Following the sale, the director now owns 19,871 shares in the company, valued at approximately $655,146.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total value of $315,100.00. Following the completion of the transaction, the chief executive officer now owns 204,971 shares of the company’s stock, valued at approximately $6,458,636.21. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 31.40% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. 1620 Investment Advisors Inc. purchased a new position in shares of Amkor Technology during the second quarter worth $31,000. Capital Performance Advisors LLP purchased a new position in shares of Amkor Technology during the 3rd quarter valued at about $39,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Amkor Technology in the 2nd quarter valued at about $40,000. Headlands Technologies LLC purchased a new stake in shares of Amkor Technology in the first quarter worth about $43,000. Finally, Larson Financial Group LLC grew its holdings in Amkor Technology by 911.3% during the second quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 1,130 shares during the period. Institutional investors and hedge funds own 42.76% of the company’s stock.

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.