Amkor Technology (NASDAQ:AMKR) Given New $19.00 Price Target at Morgan Stanley

Amkor Technology (NASDAQ:AMKR) had its price objective lowered by Morgan Stanley from $24.00 to $19.00 in a research report report published on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the semiconductor company’s stock.

A number of other research analysts have also recently issued reports on AMKR. B. Riley cut Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, April 21st. Melius lowered shares of Amkor Technology from a “buy” rating to a “hold” rating and reduced their target price for the stock from $34.00 to $30.00 in a research report on Monday, January 6th. KeyCorp reissued a “sector weight” rating on shares of Amkor Technology in a report on Thursday, April 17th. Needham & Company LLC reduced their price objective on Amkor Technology from $34.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Melius Research lowered Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Amkor Technology presently has an average rating of “Hold” and a consensus target price of $28.00.

Amkor Technology Price Performance

Shares of Amkor Technology stock opened at $17.48 on Tuesday. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 12.22 and a beta of 1.88. The firm’s 50-day moving average price is $18.24 and its two-hundred day moving average price is $23.33. The company has a current ratio of 2.11, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. Amkor Technology has a 1-year low of $14.03 and a 1-year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, April 28th. The semiconductor company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the company earned $0.24 EPS. Amkor Technology’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities analysts predict that Amkor Technology will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th were paid a $0.0827 dividend. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Thursday, March 13th. Amkor Technology’s dividend payout ratio (DPR) is currently 25.78%.

Insider Buying and Selling

In related news, EVP Kevin Engel sold 5,489 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total transaction of $119,056.41. Following the completion of the transaction, the executive vice president now owns 1,388 shares in the company, valued at approximately $30,105.72. The trade was a 79.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Agnes C. Kim sold 869,565 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the completion of the sale, the insider now directly owns 10,020,870 shares of the company’s stock, valued at $218,956,009.50. The trade was a 7.98 % decrease in their position. The disclosure for this sale can be found here. 26.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMKR. Covea Finance raised its position in shares of Amkor Technology by 47.1% during the fourth quarter. Covea Finance now owns 62,500 shares of the semiconductor company’s stock worth $1,606,000 after purchasing an additional 20,000 shares during the period. Geode Capital Management LLC raised its holdings in Amkor Technology by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,109,507 shares of the semiconductor company’s stock worth $54,209,000 after buying an additional 15,211 shares during the period. Raymond James Financial Inc. bought a new position in Amkor Technology in the fourth quarter valued at approximately $5,666,000. Blue Trust Inc. lifted its stake in Amkor Technology by 36.9% in the fourth quarter. Blue Trust Inc. now owns 3,418 shares of the semiconductor company’s stock valued at $88,000 after buying an additional 922 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Amkor Technology by 212.6% in the third quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company’s stock valued at $41,647,000 after buying an additional 925,644 shares during the period. 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.