Amkor Technology, Inc. (NASDAQ:AMKR) Receives $34.33 Consensus PT from Brokerages

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) have been assigned an average rating of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $34.33.

AMKR has been the topic of several analyst reports. Fox Advisors initiated coverage on Amkor Technology in a research note on Thursday, March 14th. They issued an “equal weight” rating on the stock. The Goldman Sachs Group initiated coverage on Amkor Technology in a research note on Thursday, February 29th. They issued a “neutral” rating and a $32.00 target price on the stock. Finally, Needham & Company LLC began coverage on Amkor Technology in a research note on Tuesday, April 9th. They issued a “buy” rating and a $40.00 target price on the stock.

Amkor Technology Trading Up 0.8 %

Shares of AMKR stock opened at $30.09 on Friday. The business’s 50 day moving average is $31.57 and its two-hundred day moving average is $29.53. Amkor Technology has a twelve month low of $17.58 and a twelve month high of $37.00. The company has a market capitalization of $7.40 billion, a P/E ratio of 20.61 and a beta of 1.96. The company has a current ratio of 2.31, a quick ratio of 2.02 and a debt-to-equity ratio of 0.27.

Amkor Technology (NASDAQ:AMKR) last announced its earnings results on Monday, February 12th. The semiconductor company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.07. Amkor Technology had a return on equity of 9.37% and a net margin of 5.53%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the business posted $0.67 EPS. The company’s revenue was down 8.1% on a year-over-year basis. Equities analysts forecast that Amkor Technology will post 1.63 EPS for the current year.

Amkor Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were issued a $0.079 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.32 annualized dividend and a dividend yield of 1.05%. Amkor Technology’s dividend payout ratio is currently 21.23%.

Insider Activity

In other news, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $30.34, for a total value of $81,918.00. Following the completion of the sale, the chief financial officer now directly owns 38,811 shares of the company’s stock, valued at approximately $1,177,525.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction 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 directly owns 123,728 shares of the company’s stock, valued at $3,789,788.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction on Friday, February 16th. The stock was sold at an average price of $30.34, for a total value of $81,918.00. Following the transaction, the chief financial officer now directly owns 38,811 shares of the company’s stock, valued at $1,177,525.74. The disclosure for this sale can be found here. Insiders sold 80,500 shares of company stock valued at $2,494,720 in the last three months. 31.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amkor Technology

Several hedge funds and other institutional investors have recently bought and sold shares of AMKR. Vanguard Group Inc. raised its holdings in Amkor Technology by 10.4% during the third quarter. Vanguard Group Inc. now owns 13,797,154 shares of the semiconductor company’s stock worth $311,816,000 after purchasing an additional 1,300,745 shares during the last quarter. Norges Bank acquired a new position in Amkor Technology during the fourth quarter worth $39,224,000. TT International Asset Management LTD acquired a new position in Amkor Technology during the fourth quarter worth $30,284,000. AQR Capital Management LLC raised its holdings in Amkor Technology by 39.3% during the third quarter. AQR Capital Management LLC now owns 1,939,583 shares of the semiconductor company’s stock worth $43,835,000 after purchasing an additional 547,604 shares during the last quarter. Finally, Hudson Bay Capital Management LP purchased a new position in Amkor Technology during the third quarter worth $10,015,000. 42.76% of the stock is owned by institutional investors and hedge funds.

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.