Needham & Company LLC Issues Positive Forecast for Amkor Technology (NASDAQ:AMKR) Stock Price

Amkor Technology (NASDAQ:AMKR) had its target price raised by research analysts at Needham & Company LLC from $22.00 to $28.00 in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective points to a potential upside of 16.96% from the stock’s previous close.

Other analysts also recently issued reports about the company. Morgan Stanley reduced their price objective on Amkor Technology from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 29th. KeyCorp reiterated a “sector weight” rating on shares of Amkor Technology in a research report on Thursday, April 17th. DA Davidson decreased their price target on Amkor Technology from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. JPMorgan Chase & Co. decreased their price target on Amkor Technology from $30.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 29th. Finally, The Goldman Sachs Group started coverage on Amkor Technology in a research note on Thursday, July 10th. They issued a “neutral” rating and a $20.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Amkor Technology has a consensus rating of “Hold” and an average price target of $26.44.

Amkor Technology Stock Down 4.5%

Shares of NASDAQ:AMKR opened at $23.94 on Tuesday. The company has a quick ratio of 1.83, a current ratio of 1.89 and a debt-to-equity ratio of 0.28. Amkor Technology has a 52-week low of $14.03 and a 52-week high of $33.85. The stock’s fifty day simple moving average is $20.67 and its 200-day simple moving average is $20.41. The company has a market capitalization of $5.91 billion, a P/E ratio of 19.46 and a beta of 1.85.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings data on Monday, July 28th. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. Amkor Technology had a return on equity of 7.23% and a net margin of 4.80%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the business earned $0.27 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts forecast that Amkor Technology will post 1.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amkor Technology

Large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Amkor Technology in the 1st quarter worth about $27,000. UMB Bank n.a. raised its holdings in shares of Amkor Technology by 677.0% in the 1st quarter. UMB Bank n.a. now owns 1,756 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 1,530 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Amkor Technology by 416.8% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,602 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 1,292 shares during the period. Allworth Financial LP raised its holdings in shares of Amkor Technology by 166.3% in the 1st quarter. Allworth Financial LP now owns 2,173 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 1,357 shares during the period. Finally, Bessemer Group Inc. raised its holdings in shares of Amkor Technology by 421.0% in the 4th quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 1,242 shares during the period. 42.76% of the stock is currently 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.