Amkor Technology (NASDAQ:AMKR) Price Target Raised to $34.00 at Morgan Stanley

Amkor Technology (NASDAQ:AMKR) had its price objective raised by Morgan Stanley from $32.00 to $34.00 in a research note published on Tuesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the semiconductor company’s stock.

A number of other brokerages have also weighed in on AMKR. The Goldman Sachs Group began 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. Fox Advisors initiated coverage on shares of Amkor Technology in a research report on Thursday, March 14th. They set an equal weight rating for the company. Needham & Company LLC reaffirmed a buy rating and issued a $40.00 target price on shares of Amkor Technology in a report on Tuesday. DA Davidson raised their price objective on Amkor Technology from $35.00 to $40.00 and gave the stock a buy rating in a research note on Tuesday. Finally, B. Riley reiterated a buy rating and set a $45.00 price objective (up from $43.00) on shares of Amkor Technology in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $37.67.

Amkor Technology Stock Performance

Shares of AMKR stock opened at $32.34 on Tuesday. The stock has a market cap of $7.95 billion, a PE ratio of 21.28 and a beta of 1.94. The company has a current ratio of 2.34, a quick ratio of 2.02 and a debt-to-equity ratio of 0.26. Amkor Technology has a 12 month low of $17.58 and a 12 month high of $37.00. The company’s fifty day moving average price is $31.67 and its 200-day moving average price is $29.82.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.13. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Amkor Technology had a return on equity of 9.53% and a net margin of 5.84%. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.18 EPS. On average, equities analysts expect that Amkor Technology will post 1.78 EPS for the current fiscal year.

Amkor Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Tuesday, March 12th were paid a dividend of $0.079 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.32 annualized dividend and a yield of 0.98%. Amkor Technology’s payout ratio is 20.39%.

Insider Activity

In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $30.63, for a total value of $765,750.00. Following the completion of the transaction, the chief executive officer now owns 123,728 shares in the company, valued at $3,789,788.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $30.63, for a total transaction of $765,750.00. Following the completion of the transaction, the chief executive officer now owns 123,728 shares in the company, valued at $3,789,788.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark N. Rogers sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $31.30, for a total value of $156,500.00. Following the completion of the sale, the executive vice president now owns 25,280 shares in the company, valued at $791,264. The disclosure for this sale can be found here. Insiders sold a total of 85,500 shares of company stock worth $2,651,220 over the last 90 days. Corporate insiders own 31.40% of the company’s stock.

Institutional Trading of Amkor Technology

Several hedge funds have recently modified their holdings of the company. Allworth Financial LP increased its position in shares of Amkor Technology by 1,324.6% during the fourth quarter. Allworth Financial LP now owns 812 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 755 shares in the last quarter. Pineridge Advisors LLC purchased a new position in Amkor Technology during the 4th quarter worth $28,000. Parkside Financial Bank & Trust grew its stake in Amkor Technology by 1,414.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 863 shares of the semiconductor company’s stock worth $29,000 after buying an additional 806 shares during the last quarter. Fifth Third Bancorp increased its position in Amkor Technology by 65.8% during the 4th quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 347 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Amkor Technology by 57.0% in the fourth quarter. Blue Trust Inc. now owns 1,487 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 540 shares during the last quarter. 42.76% of the stock is owned by hedge funds and other 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.