Amkor Technology (NASDAQ:AMKR) Given New $38.00 Price Target at Morgan Stanley

Amkor Technology (NASDAQ:AMKR) had its price target increased by analysts at Morgan Stanley from $34.00 to $38.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective would suggest a potential downside of 6.08% from the company’s current price.

A number of other equities research analysts have also weighed in on AMKR. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of Amkor Technology in a research report on Tuesday, April 30th. The Goldman Sachs Group lifted their price target on Amkor Technology from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Fox Advisors started coverage on Amkor Technology in a research report on Thursday, March 14th. They set an “equal weight” rating on the stock. JPMorgan Chase & Co. started coverage on Amkor Technology in a research report on Monday. They set an “overweight” rating and a $48.00 price target on the stock. Finally, DA Davidson lifted their price target on Amkor Technology from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.43.

Amkor Technology Price Performance

Shares of NASDAQ AMKR traded up $0.22 during trading hours on Tuesday, reaching $40.46. 518,751 shares of the stock traded hands, compared to its average volume of 1,141,719. The company has a market capitalization of $9.95 billion, a P/E ratio of 26.68 and a beta of 1.86. The company has a quick ratio of 2.08, a current ratio of 2.34 and a debt-to-equity ratio of 0.26. Amkor Technology has a 52-week low of $17.58 and a 52-week high of $41.86. The company’s 50-day simple moving average is $34.03 and its two-hundred day simple moving average is $32.60.

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

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, EVP Mark N. Rogers sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $31.30, for a total transaction of $156,500.00. Following the completion of the sale, the executive vice president now owns 25,280 shares of the company’s stock, valued at $791,264. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Mark N. Rogers sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $31.30, for a total value of $156,500.00. Following the transaction, the executive vice president now directly owns 25,280 shares in the company, valued at $791,264. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 114,476 shares in the company, valued at $3,568,216.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,000 shares of company stock valued at $2,414,000. Company insiders own 31.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

A number of hedge funds have recently made changes to their positions in AMKR. SummerHaven Investment Management LLC raised its position in Amkor Technology by 1.4% during the fourth quarter. SummerHaven Investment Management LLC now owns 24,548 shares of the semiconductor company’s stock valued at $817,000 after purchasing an additional 327 shares during the period. Retirement Systems of Alabama raised its position in Amkor Technology by 0.3% during the first quarter. Retirement Systems of Alabama now owns 129,621 shares of the semiconductor company’s stock valued at $4,179,000 after purchasing an additional 344 shares during the period. Fifth Third Bancorp raised its position in Amkor Technology by 65.8% during the fourth quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 347 shares during the period. QRG Capital Management Inc. raised its position in Amkor Technology by 3.5% during the first quarter. QRG Capital Management Inc. now owns 11,837 shares of the semiconductor company’s stock valued at $382,000 after purchasing an additional 405 shares during the period. Finally, Assetmark Inc. raised its position in Amkor Technology by 3.5% during the fourth quarter. Assetmark Inc. now owns 12,874 shares of the semiconductor company’s stock valued at $428,000 after purchasing an additional 438 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.