Amkor Technology (NASDAQ:AMKR) Receives Buy Rating from B. Riley

Amkor Technology (NASDAQ:AMKR)‘s stock had its “buy” rating restated by stock analysts at B. Riley in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $45.00 price objective on the semiconductor company’s stock, up from their prior price objective of $43.00. B. Riley’s target price would suggest a potential upside of 42.99% from the stock’s current price.

AMKR has been the subject of a number of other research reports. The Goldman Sachs Group started coverage on shares of Amkor Technology in a report on Thursday, February 29th. They issued a “neutral” rating and a $32.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of Amkor Technology in a report on Tuesday. Finally, Fox Advisors assumed coverage on shares of Amkor Technology in a report on Thursday, March 14th. They set an “equal weight” rating for the company. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Amkor Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.17.

Amkor Technology Stock Performance

Shares of NASDAQ AMKR opened at $31.47 on Tuesday. Amkor Technology has a 12 month low of $17.58 and a 12 month high of $37.00. The stock has a 50 day moving average of $31.60 and a 200-day moving average of $29.73. The company has a current ratio of 2.31, a quick ratio of 2.02 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $7.74 billion, a P/E ratio of 21.55 and a beta of 1.96.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.13. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Amkor Technology had a net margin of 5.53% and a return on equity of 9.37%. Amkor Technology’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 EPS. As a group, equities research analysts predict that Amkor Technology will post 1.63 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Megan Faust sold 2,700 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $30.34, for a total transaction of $81,918.00. Following the sale, the chief financial officer now directly owns 38,811 shares in the company, valued at $1,177,525.74. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction on Friday, February 16th. The shares were sold at an average price of $30.34, for a total transaction of $81,918.00. Following the transaction, the chief financial officer now owns 38,811 shares in the company, valued at $1,177,525.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $31.17, for a total value of $779,250.00. Following the completion of the sale, the chief executive officer now owns 114,476 shares of the company’s stock, valued at $3,568,216.92. The disclosure for this sale can be found here. Insiders sold a total of 80,500 shares of company stock valued at $2,494,720 in the last 90 days. Corporate insiders own 31.40% of the company’s stock.

Institutional Trading of Amkor Technology

Several institutional investors have recently added to or reduced their stakes in AMKR. Principal Financial Group Inc. lifted its position in shares of Amkor Technology by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 447,168 shares of the semiconductor company’s stock worth $14,417,000 after purchasing an additional 8,470 shares during the period. Whalen Wealth Management Inc. acquired a new position in Amkor Technology in the first quarter valued at $238,000. Louisiana State Employees Retirement System lifted its stake in shares of Amkor Technology by 2.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 29,700 shares of the semiconductor company’s stock valued at $958,000 after purchasing an additional 700 shares during the period. State of Michigan Retirement System grew its stake in Amkor Technology by 2.4% during the first quarter. State of Michigan Retirement System now owns 25,349 shares of the semiconductor company’s stock worth $817,000 after purchasing an additional 600 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in Amkor Technology by 104.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 16,904 shares of the semiconductor company’s stock worth $545,000 after purchasing an additional 8,617 shares in the last quarter. 42.76% of the stock is currently owned by institutional investors.

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.