Amkor Technology (NASDAQ:AMKR) PT Raised to $40.00 at DA Davidson

Amkor Technology (NASDAQ:AMKR) had its price objective upped by stock analysts at DA Davidson from $35.00 to $40.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. DA Davidson’s price objective suggests a potential upside of 31.88% from the company’s current price.

A number of other brokerages have also weighed in on AMKR. B. Riley restated a “buy” rating and issued a $45.00 price objective (up from $43.00) on shares of Amkor Technology in a report on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $40.00 price objective on shares of Amkor Technology in a report on Tuesday. Fox Advisors assumed coverage on shares of Amkor Technology in a report on Thursday, March 14th. They set an “equal weight” rating for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Amkor Technology in a report on Thursday, February 29th. They set a “neutral” rating and a $32.00 price target for the company. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.67.

Amkor Technology Trading Down 6.2 %

Shares of Amkor Technology stock opened at $30.33 on Tuesday. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $37.00. The firm has a market cap of $7.46 billion, a PE ratio of 19.89 and a beta of 1.96. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.31 and a quick ratio of 2.02. The company has a 50 day simple moving average of $31.65 and a two-hundred day simple moving average of $29.80.

Amkor Technology (NASDAQ:AMKR) last announced its earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.13. Amkor Technology had a net margin of 5.84% and a return on equity of 9.63%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the business posted $0.18 earnings per share. Amkor Technology’s revenue for the quarter was down 7.2% on a year-over-year basis. Analysts expect that Amkor Technology will post 1.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $30.63, for a total transaction of $765,750.00. Following the transaction, the chief executive officer now directly owns 123,728 shares of the company’s stock, valued at approximately $3,789,788.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Megan Faust sold 2,800 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $31.09, for a total value of $87,052.00. Following the sale, the chief financial officer now directly owns 53,023 shares of the company’s stock, valued at approximately $1,648,485.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Thursday, February 22nd. The stock was sold at an average price of $30.63, for a total transaction of $765,750.00. Following the completion of the sale, the chief executive officer now directly owns 123,728 shares in the company, valued at $3,789,788.64. 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. 31.40% of the stock is currently owned by company insiders.

Institutional Trading of Amkor Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP grew its position in Amkor Technology by 1,324.6% during 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 during the last quarter. Pineridge Advisors LLC bought a new position in Amkor Technology during the 4th quarter valued at about $28,000. Fifth Third Bancorp lifted its stake in Amkor Technology by 65.8% during 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 period. Parkside Financial Bank & Trust lifted its stake in Amkor Technology by 1,414.0% during 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 period. Finally, Blue Trust Inc. lifted its stake in Amkor Technology by 57.0% during 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 period. 42.76% of the stock is owned by hedge funds and other 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.