Amkor Technology (NASDAQ:AMKR) Coverage Initiated at JPMorgan Chase & Co.

Analysts at JPMorgan Chase & Co. began coverage on shares of Amkor Technology (NASDAQ:AMKR) in a report released on Monday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $48.00 price target on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 19.34% from the stock’s previous close.

Several other research analysts have also recently commented on the company. The Goldman Sachs Group increased 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. DA Davidson boosted their target price on shares of Amkor Technology from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. B. Riley increased their price target on shares of Amkor Technology from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Morgan Stanley lifted their price objective on shares of Amkor Technology from $32.00 to $34.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of Amkor Technology in a report on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.43.

Amkor Technology Price Performance

NASDAQ AMKR opened at $40.22 on Monday. The firm’s 50 day moving average is $34.25 and its 200-day moving average is $32.65. The company has a quick ratio of 2.08, a current ratio of 2.34 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $9.89 billion, a PE ratio of 26.46 and a beta of 1.86. Amkor Technology has a 12-month low of $17.58 and a 12-month high of $41.86.

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

Insider Activity at Amkor Technology

In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $31.17, for a total transaction of $779,250.00. Following the transaction, the chief executive officer now owns 114,476 shares in the company, valued at $3,568,216.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Amkor Technology news, Director Gil C. Tily sold 20,000 shares of Amkor Technology stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $32.20, for a total value of $644,000.00. Following the completion of the sale, the director now owns 129,218 shares in the company, valued at approximately $4,160,819.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $779,250.00. Following the completion of the sale, the chief executive officer now directly owns 114,476 shares of the company’s stock, valued at approximately $3,568,216.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,000 shares of company stock worth $2,414,000. Insiders own 31.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its stake in Amkor Technology by 31.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,674 shares of the semiconductor company’s stock worth $128,000 after acquiring an additional 1,364 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Amkor Technology by 47.7% in the third quarter. Envestnet Asset Management Inc. now owns 348,931 shares of the semiconductor company’s stock worth $7,886,000 after purchasing an additional 112,615 shares during the period. Acadian Asset Management LLC raised its stake in Amkor Technology by 26.2% in the third quarter. Acadian Asset Management LLC now owns 4,217 shares of the semiconductor company’s stock valued at $95,000 after purchasing an additional 875 shares in the last quarter. Trexquant Investment LP bought a new stake in Amkor Technology during the third quarter worth about $1,142,000. Finally, Qube Research & Technologies Ltd lifted its position in Amkor Technology by 29.5% during the third quarter. Qube Research & Technologies Ltd now owns 92,135 shares of the semiconductor company’s stock worth $2,082,000 after purchasing an additional 21,011 shares during the period. 42.76% of the stock is 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.