Morgan Stanley Increases Amkor Technology (NASDAQ:AMKR) Price Target to $38.00

Amkor Technology (NASDAQ:AMKR) had its price objective boosted by Morgan Stanley from $34.00 to $38.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s target price would suggest a potential downside of 5.71% from the company’s current price.

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

Amkor Technology Price Performance

NASDAQ AMKR opened at $40.30 on Tuesday. Amkor Technology has a 12 month low of $17.58 and a 12 month high of $41.86. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.34 and a quick ratio of 2.08. The firm has a market capitalization of $9.91 billion, a PE ratio of 26.51 and a beta of 1.86. The company’s 50 day simple moving average is $34.46 and its 200 day simple moving average is $32.70.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.24 EPS 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 for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the business earned $0.18 earnings per share. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. As a group, equities research analysts forecast that Amkor Technology will post 1.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amkor Technology news, EVP Mark N. Rogers sold 5,000 shares of Amkor Technology stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $31.30, for a total transaction of $156,500.00. Following the transaction, the executive vice president now directly owns 25,280 shares in the company, valued at approximately $791,264. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction on 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 owns 114,476 shares of the company’s stock, valued at approximately $3,568,216.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark N. Rogers sold 5,000 shares of Amkor Technology stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $31.30, for a total transaction of $156,500.00. Following the sale, the executive vice president now directly owns 25,280 shares of the company’s stock, valued at approximately $791,264. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,000 shares of company stock worth $2,414,000. Corporate insiders own 31.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Amkor Technology by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 14,976,630 shares of the semiconductor company’s stock valued at $482,847,000 after buying an additional 219,638 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Amkor Technology by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,860,585 shares of the semiconductor company’s stock valued at $494,421,000 after purchasing an additional 244,026 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Amkor Technology by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,852,309 shares of the semiconductor company’s stock valued at $61,626,000 after purchasing an additional 141,725 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Amkor Technology by 4.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,410,504 shares of the semiconductor company’s stock valued at $46,927,000 after purchasing an additional 63,104 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Amkor Technology in the 4th quarter valued at $39,224,000. Institutional investors and hedge funds own 42.76% of the company’s stock.

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.