Amkor Technology (NASDAQ:AMKR) Stock Rating Reaffirmed by Needham & Company LLC

Amkor Technology (NASDAQ:AMKR)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports. They currently have a $40.00 price target on the semiconductor company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 31.88% from the company’s previous close.

A number of other research analysts also recently commented on AMKR. Fox Advisors assumed coverage on shares of Amkor Technology in a research report on Thursday, March 14th. They issued an “equal weight” rating for the company. 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 target price for the company. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.67.

Amkor Technology Stock Performance

Shares of AMKR opened at $30.33 on Tuesday. The firm has a 50-day moving average of $31.65 and a 200-day moving average of $29.80. Amkor Technology has a one year low of $17.58 and a one year high of $37.00. The company 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.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.13. Amkor Technology had a net margin of 5.84% and a return on equity of 9.63%. 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 firm posted $0.18 EPS. The company’s quarterly revenue was down 7.2% on a year-over-year basis. As a group, equities analysts forecast that Amkor Technology will post 1.63 earnings per share for the current year.

Insider Buying and Selling

In other Amkor Technology news, CFO Megan Faust sold 2,700 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 38,811 shares of the company’s stock, valued at approximately $1,177,525.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $30.63, for a total value of $765,750.00. Following the completion of the sale, the chief executive officer now owns 123,728 shares of the company’s stock, valued at approximately $3,789,788.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Megan Faust sold 2,700 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $30.34, for a total transaction of $81,918.00. Following the completion of the sale, the chief financial officer now directly owns 38,811 shares of the company’s stock, valued at approximately $1,177,525.74. The disclosure for this sale can be found here. In the last 90 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 Trading of Amkor Technology

A number of institutional investors have recently bought and sold shares of AMKR. Janney Montgomery Scott LLC raised its position in shares of Amkor Technology by 30.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 24,869 shares of the semiconductor company’s stock valued at $802,000 after buying an additional 5,824 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Amkor Technology by 108.6% in the 1st quarter. BNP Paribas Financial Markets now owns 75,470 shares of the semiconductor company’s stock valued at $2,433,000 after buying an additional 39,284 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Amkor Technology by 15.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 289,443 shares of the semiconductor company’s stock valued at $8,990,000 after buying an additional 39,509 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Amkor Technology by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 129,621 shares of the semiconductor company’s stock valued at $4,179,000 after buying an additional 344 shares in the last quarter. Finally, Vest Financial LLC raised its position in shares of Amkor Technology by 253.1% in the 1st quarter. Vest Financial LLC now owns 26,743 shares of the semiconductor company’s stock valued at $862,000 after buying an additional 19,170 shares in the last quarter. Institutional investors 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.