JPMorgan Chase & Co. Begins Coverage on Amkor Technology (NASDAQ:AMKR)

Research analysts at JPMorgan Chase & Co. began coverage on shares of Amkor Technology (NASDAQ:AMKR) in a report released on Monday, Briefing.com reports. The brokerage set an “overweight” rating and a $48.00 price target on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 19.94% from the company’s previous close.

Several other research firms have also recently weighed in on AMKR. DA Davidson lifted their price target on Amkor Technology from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Fox Advisors assumed coverage on Amkor Technology in a 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 price objective on shares of Amkor Technology in a report on Tuesday, April 30th. B. Riley lifted their price objective on Amkor Technology from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Finally, The Goldman Sachs Group lifted their price objective on Amkor Technology from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.86.

Amkor Technology Stock Performance

AMKR opened at $40.02 on Monday. Amkor Technology has a 12-month low of $17.58 and a 12-month high of $40.93. The stock has a market cap of $9.84 billion, a price-to-earnings ratio of 26.33 and a beta of 1.84. The business has a 50 day moving average of $33.81 and a 200-day moving average of $32.55. 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 (NASDAQ:AMKR) last released its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.13. Amkor Technology had a return on equity of 9.53% and a net margin of 5.84%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the firm posted $0.18 earnings per share. The business’s revenue was down 7.2% on a year-over-year basis. On average, equities research analysts expect that Amkor Technology will post 1.78 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Mark N. Rogers sold 5,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $31.30, for a total transaction of $156,500.00. Following the sale, the executive vice president now owns 25,280 shares in the company, valued at approximately $791,264. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Amkor Technology news, EVP Mark N. Rogers sold 5,000 shares of the company’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 sale, the executive vice president now owns 25,280 shares in the company, valued at approximately $791,264. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gil C. Tily sold 20,000 shares of the company’s 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 disclosure for this sale can be found here. Insiders have sold 75,000 shares of company stock worth $2,414,000 in the last 90 days. Insiders own 31.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Westwood Holdings Group Inc. lifted its stake in shares of Amkor Technology by 2.4% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,103,618 shares of the semiconductor company’s stock valued at $35,581,000 after purchasing an additional 25,445 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Amkor Technology in the 1st quarter valued at about $321,000. Virtu Financial LLC acquired a new position in shares of Amkor Technology in the 1st quarter valued at about $504,000. Tidal Investments LLC acquired a new position in Amkor Technology during the 1st quarter worth approximately $584,000. Finally, Innealta Capital LLC acquired a new position in Amkor Technology during the 1st quarter worth approximately $201,000. 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.