Needham & Company LLC Reiterates “Buy” Rating for Amkor Technology (NASDAQ:AMKR)

Amkor Technology (NASDAQ:AMKR)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They currently have a $34.00 price target on the semiconductor company’s stock. Needham & Company LLC’s price objective points to a potential upside of 39.57% from the stock’s current price.

Several other research firms have also commented on AMKR. JPMorgan Chase & Co. dropped their price target on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Morgan Stanley decreased their price target on Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday. KeyCorp dropped their price objective on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Melius lowered shares of Amkor Technology from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $34.00 to $30.00 in a research report on Monday, January 6th. Finally, DA Davidson dropped their target price on Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $35.25.

Amkor Technology Stock Performance

NASDAQ:AMKR opened at $24.36 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 16.46 and a beta of 1.81. Amkor Technology has a 1 year low of $23.33 and a 1 year high of $44.86. The stock’s 50 day simple moving average is $25.73 and its two-hundred day simple moving average is $28.31.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. As a group, equities analysts anticipate that Amkor Technology will post 1.38 earnings per share for the current fiscal year.

Institutional Trading of Amkor Technology

Several institutional investors and hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in Amkor Technology by 24,383.3% during the 3rd quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock worth $115,899,000 after acquiring an additional 3,772,095 shares in the last quarter. State Street Corp boosted its stake in shares of Amkor Technology by 5.6% during the third quarter. State Street Corp now owns 3,355,817 shares of the semiconductor company’s stock valued at $102,688,000 after purchasing an additional 176,528 shares in the last quarter. Geode Capital Management LLC increased its holdings in Amkor Technology by 6.7% during the third quarter. Geode Capital Management LLC now owns 2,094,296 shares of the semiconductor company’s stock valued at $64,101,000 after buying an additional 131,106 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Amkor Technology by 6.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,006,273 shares of the semiconductor company’s stock worth $51,541,000 after buying an additional 127,361 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Amkor Technology by 44.9% in the 4th quarter. Principal Financial Group Inc. now owns 1,972,293 shares of the semiconductor company’s stock worth $50,665,000 after acquiring an additional 611,209 shares in the last quarter. 42.76% of the stock is currently owned by 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.