KeyCorp Trims Amkor Technology (NASDAQ:AMKR) Target Price to $34.00

Amkor Technology (NASDAQ:AMKR) had its target price lowered by KeyCorp from $38.00 to $34.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the semiconductor company’s stock.

Several other research analysts also recently commented on the stock. StockNews.com upgraded shares of Amkor Technology from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Needham & Company LLC lifted their price objective on Amkor Technology from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. started coverage on Amkor Technology in a research note on Monday, July 1st. They set an “overweight” rating and a $48.00 target price for the company. Finally, Morgan Stanley raised their target price on Amkor Technology from $34.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, July 2nd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.63.

Amkor Technology Stock Performance

AMKR opened at $27.98 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.83 and a current ratio of 2.08. The company has a market cap of $6.88 billion, a PE ratio of 18.41 and a beta of 1.84. The stock has a 50-day moving average of $30.62 and a 200-day moving average of $33.26. Amkor Technology has a 52-week low of $17.58 and a 52-week high of $44.86.

Amkor Technology (NASDAQ:AMKR) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). Amkor Technology had a return on equity of 9.41% and a net margin of 5.87%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the company earned $0.54 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities research analysts forecast that Amkor Technology will post 1.55 earnings per share for the current fiscal year.

Amkor Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Tuesday, September 3rd were issued a $0.079 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.32 annualized dividend and a yield of 1.13%. Amkor Technology’s dividend payout ratio (DPR) is 20.39%.

Insider Transactions at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total value of $315,100.00. Following the completion of the transaction, the chief executive officer now directly owns 204,971 shares in the company, valued at approximately $6,458,636.21. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of Amkor Technology stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total transaction of $315,100.00. Following the sale, the chief executive officer now directly owns 204,971 shares in the company, valued at approximately $6,458,636.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Winston J. Churchill sold 20,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total transaction of $659,400.00. Following the completion of the transaction, the director now directly owns 19,871 shares of the company’s stock, valued at $655,146.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 31.40% of the stock is owned by insiders.

Institutional Trading of Amkor Technology

Institutional investors have recently bought and sold shares of the stock. 1620 Investment Advisors Inc. bought a new position in shares of Amkor Technology during the second quarter valued at $31,000. Ashton Thomas Private Wealth LLC bought a new position in Amkor Technology during the 2nd quarter valued at about $40,000. Headlands Technologies LLC acquired a new position in Amkor Technology in the first quarter valued at about $43,000. Larson Financial Group LLC grew its stake in Amkor Technology by 911.3% during the second quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock worth $50,000 after buying an additional 1,130 shares during the last quarter. Finally, Rothschild Investment LLC bought a new stake in Amkor Technology during the second quarter worth about $52,000. Institutional investors and hedge funds own 42.76% of the company’s stock.

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.