Amkor Technology (NASDAQ:AMKR) Earns Overweight Rating from Analysts at KeyCorp

KeyCorp began coverage on shares of Amkor Technology (NASDAQ:AMKR) in a research note published on Friday morning, Marketbeat reports. The brokerage issued an overweight rating and a $38.00 target price on the semiconductor company’s stock.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC boosted their price objective on Amkor Technology from $40.00 to $45.00 and gave the company a buy rating in a report on Tuesday, July 30th. Morgan Stanley boosted their price target on shares of Amkor Technology from $34.00 to $38.00 and gave the stock an equal weight rating in a research note on Tuesday, July 2nd. B. Riley raised their price objective 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. Finally, JPMorgan Chase & Co. assumed coverage on shares of Amkor Technology in a research note on Monday, July 1st. They set an overweight rating and a $48.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Amkor Technology currently has an average rating of Moderate Buy and a consensus price target of $40.75.

Amkor Technology Trading Down 2.2 %

NASDAQ AMKR opened at $30.96 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.08 and a quick ratio of 1.83. The stock has a market capitalization of $7.61 billion, a P/E ratio of 20.37 and a beta of 1.85. The firm’s 50-day moving average is $33.12 and its two-hundred day moving average is $33.65. Amkor Technology has a 12 month low of $17.58 and a 12 month high of $44.86.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the business posted $0.26 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. On average, sell-side analysts anticipate that Amkor Technology will post 1.53 earnings per share for the current year.

Amkor Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Tuesday, September 3rd will be paid a $0.079 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 1.02%. Amkor Technology’s dividend payout ratio is currently 20.39%.

Insider Buying and Selling at Amkor Technology

In other news, Director Winston J. Churchill sold 20,000 shares of Amkor Technology stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the completion of the sale, the director now directly owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $42.94, for a total transaction of $1,073,500.00. Following the completion of the transaction, the chief executive officer now directly owns 128,333 shares of the company’s stock, valued at approximately $5,510,619.02. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Winston J. Churchill sold 20,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total value of $659,400.00. Following the completion of the transaction, the director now owns 19,871 shares in the company, valued at approximately $655,146.87. The disclosure for this sale can be found here. Insiders own 31.40% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMKR. 1620 Investment Advisors Inc. acquired a new position in Amkor Technology in the second quarter valued at $31,000. Pineridge Advisors LLC acquired a new stake in shares of Amkor Technology in the 4th quarter valued at about $28,000. Ashton Thomas Private Wealth LLC purchased a new position in Amkor Technology during the 2nd quarter worth approximately $40,000. Larson Financial Group LLC increased its position in Amkor Technology by 911.3% during the second quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock worth $50,000 after buying an additional 1,130 shares during the period. Finally, Rothschild Investment LLC purchased a new stake in Amkor Technology in the second quarter valued at approximately $52,000. 42.76% of the stock is owned by institutional investors and hedge funds.

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.