Amkor Technology (NASDAQ:AMKR) Given “Buy” Rating at B. Riley

Amkor Technology (NASDAQ:AMKR)‘s stock had its “buy” rating reaffirmed by analysts at B. Riley in a report issued on Tuesday, Benzinga reports. They currently have a $45.00 target price on the semiconductor company’s stock, up from their prior target price of $43.00. B. Riley’s target price suggests a potential upside of 48.37% from the stock’s current price. B. Riley also issued estimates for Amkor Technology’s Q3 2024 earnings at $0.62 EPS, Q4 2024 earnings at $0.68 EPS, FY2024 earnings at $1.75 EPS, Q1 2025 earnings at $0.31 EPS, Q2 2025 earnings at $0.41 EPS and Q4 2025 earnings at $0.87 EPS.

A number of other analysts have also issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price target on shares of Amkor Technology in a research note on Tuesday. Fox Advisors began coverage on Amkor Technology in a report on Thursday, March 14th. They issued an “equal weight” rating on the stock. Finally, The Goldman Sachs Group began coverage on Amkor Technology in a report on Thursday, February 29th. They issued a “neutral” rating and a $32.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

Amkor Technology Stock Down 6.2 %

AMKR opened at $30.33 on Tuesday. The business’s fifty day simple moving average is $31.65 and its 200 day simple moving average is $29.80. The company has a quick ratio of 2.02, a current ratio of 2.31 and a debt-to-equity ratio of 0.27. Amkor Technology has a 52 week low of $17.58 and a 52 week high of $37.00. The firm has a market cap of $7.46 billion, a P/E ratio of 19.89 and a beta of 1.96.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.13. Amkor Technology had a return on equity of 9.63% and a net margin of 5.84%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the company earned $0.18 EPS. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. As a group, equities research analysts anticipate that Amkor Technology will post 1.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $31.17, for a total transaction of $779,250.00. Following the transaction, the chief executive officer now directly owns 114,476 shares of the company’s stock, valued at approximately $3,568,216.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $31.17, for a total transaction of $779,250.00. Following the transaction, the chief executive officer now directly owns 114,476 shares of the company’s stock, valued at approximately $3,568,216.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Megan Faust sold 2,700 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $30.34, for a total value of $81,918.00. Following the completion of the transaction, the chief financial officer now directly owns 38,811 shares in the company, valued at $1,177,525.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,500 shares of company stock valued at $2,494,720. Corporate insiders own 31.40% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

Institutional investors have recently made changes to their positions in the business. Allworth Financial LP raised its position in shares of Amkor Technology by 1,324.6% in the 4th quarter. Allworth Financial LP now owns 812 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 755 shares in the last quarter. Pineridge Advisors LLC bought a new stake in shares of Amkor Technology in the 4th quarter valued at approximately $28,000. Fifth Third Bancorp increased its holdings in shares of Amkor Technology by 65.8% in the 4th quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 347 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Amkor Technology by 1,414.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 863 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 806 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Amkor Technology by 57.0% in the 4th quarter. Blue Trust Inc. now owns 1,487 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 540 shares during the last quarter. 42.76% of the stock is owned by institutional investors and hedge funds.

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.