Amkor Technology, Inc. (NASDAQ:AMKR) Receives $31.50 Consensus PT from Brokerages

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) have earned an average recommendation of “Moderate Buy” from the nine analysts that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $31.50.

Several equities research analysts have recently weighed in on the company. B. Riley decreased their target price on Amkor Technology from $38.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Morgan Stanley lowered their price objective on shares of Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. JPMorgan Chase & Co. reduced their target price on shares of Amkor Technology from $42.00 to $30.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price target on shares of Amkor Technology in a research note on Tuesday, February 11th. Finally, Melius Research cut shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th.

Amkor Technology Trading Down 6.1 %

Shares of AMKR stock opened at $14.88 on Friday. Amkor Technology has a fifty-two week low of $14.07 and a fifty-two week high of $44.86. The firm’s 50 day moving average price is $21.11 and its two-hundred day moving average price is $25.24. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 10.41 and a beta of 1.88. The company has a quick ratio of 1.90, a current ratio of 2.11 and a debt-to-equity ratio of 0.22.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Amkor Technology had a net margin of 5.60% and a return on equity of 8.59%. On average, analysts anticipate that Amkor Technology will post 1.47 EPS for the current year.

Amkor Technology Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th were given a $0.0827 dividend. This represents a $0.33 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Thursday, March 13th. Amkor Technology’s payout ratio is currently 23.08%.

Insider Transactions at Amkor Technology

In related news, major shareholder Agnes C. Kim sold 869,565 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the sale, the insider now directly owns 10,020,870 shares of the company’s stock, valued at approximately $218,956,009.50. This represents a 7.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kevin Engel sold 5,489 shares of Amkor Technology stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total transaction of $119,056.41. Following the completion of the transaction, the executive vice president now directly owns 1,388 shares of the company’s stock, valued at approximately $30,105.72. This represents a 79.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

Several institutional investors and hedge funds have recently bought and sold shares of AMKR. Vanguard Group Inc. raised its position in shares of Amkor Technology by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company’s stock worth $402,414,000 after purchasing an additional 1,092,002 shares during the period. First Trust Advisors LP grew its stake in Amkor Technology by 7.9% during the 4th quarter. First Trust Advisors LP now owns 4,778,790 shares of the semiconductor company’s stock worth $122,767,000 after buying an additional 350,809 shares during the last quarter. Alliancebernstein L.P. increased its position in Amkor Technology by 15.8% in the fourth quarter. Alliancebernstein L.P. now owns 4,081,481 shares of the semiconductor company’s stock worth $104,853,000 after buying an additional 556,761 shares during the period. State Street Corp lifted its stake in Amkor Technology by 5.6% in the third quarter. State Street Corp now owns 3,355,817 shares of the semiconductor company’s stock valued at $102,688,000 after buying an additional 176,528 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Amkor Technology by 24.4% during the fourth quarter. American Century Companies Inc. now owns 2,709,002 shares of the semiconductor company’s stock valued at $69,594,000 after acquiring an additional 530,771 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.