Amkor Technology (NASDAQ:AMKR) Given New $36.00 Price Target at The Goldman Sachs Group

Amkor Technology (NASDAQ:AMKR) had its price target lifted by The Goldman Sachs Group from $32.00 to $36.00 in a research report released on Wednesday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the semiconductor company’s stock.

A number of other brokerages have also recently issued reports on AMKR. Morgan Stanley increased their target price on Amkor Technology from $32.00 to $34.00 and gave the stock an equal weight rating in a report on Tuesday. Needham & Company LLC reissued a buy rating and issued a $40.00 target price on shares of Amkor Technology in a report on Tuesday. DA Davidson increased their target price on Amkor Technology from $35.00 to $40.00 and gave the stock a buy rating in a report on Tuesday. Fox Advisors initiated coverage on Amkor Technology in a report on Thursday, March 14th. They set an equal weight rating for the company. Finally, B. Riley reaffirmed a buy rating and set a $45.00 price target (up from $43.00) on shares of Amkor Technology in a report on Tuesday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Amkor Technology currently has an average rating of Moderate Buy and an average target price of $37.67.

Amkor Technology Price Performance

Shares of AMKR stock opened at $30.33 on Wednesday. The stock has a 50 day moving average of $31.65 and a two-hundred day moving average of $29.80. The company has a current ratio of 2.31, a quick ratio of 2.02 and a debt-to-equity ratio of 0.27. Amkor Technology has a 12 month low of $17.58 and a 12 month high of $37.00. The company has a market capitalization of $7.46 billion, a P/E ratio of 19.95 and a beta of 1.96.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.24 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 company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the company earned $0.18 EPS. The company’s quarterly revenue was down 7.2% on a year-over-year basis. As a group, equities analysts expect that Amkor Technology will post 1.63 EPS for the current year.

Amkor Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were paid a $0.079 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.32 annualized dividend and a dividend yield of 1.04%. Amkor Technology’s dividend payout ratio (DPR) is currently 20.39%.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP boosted 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 worth $27,000 after purchasing an additional 755 shares during the last quarter. Pineridge Advisors LLC bought a new position in shares of Amkor Technology in the 4th quarter worth $28,000. Fifth Third Bancorp boosted its position 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 worth $29,000 after purchasing an additional 347 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Amkor Technology by 1,414.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 863 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 806 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Amkor Technology by 57.0% during the fourth quarter. Blue Trust Inc. now owns 1,487 shares of the semiconductor company’s stock worth $49,000 after acquiring an additional 540 shares in the last quarter. 42.76% of the stock is currently owned by institutional investors.

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.