Brokerages Set Amkor Technology, Inc. (NASDAQ:AMKR) Target Price at $36.29

Amkor Technology, Inc. (NASDAQ:AMKR) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $36.29.

A number of research analysts have recently weighed in on AMKR shares. Morgan Stanley reduced their target price on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. The Goldman Sachs Group reduced their price objective on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. JPMorgan Chase & Co. lowered their target price on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Needham & Company LLC decreased their price objective on Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Finally, KeyCorp dropped their price objective on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th.

Insider Activity

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total value of $315,100.00. Following the transaction, the chief executive officer now owns 204,971 shares of the company’s stock, valued at $6,458,636.21. This represents a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 31.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

A number of institutional investors have recently made changes to their positions in AMKR. Pacer Advisors Inc. lifted its stake in Amkor Technology by 24,383.3% in the third quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock worth $115,899,000 after purchasing an additional 3,772,095 shares during the last quarter. State Street Corp lifted its stake in shares of Amkor Technology by 5.6% in the 3rd quarter. State Street Corp now owns 3,355,817 shares of the semiconductor company’s stock valued at $102,688,000 after acquiring an additional 176,528 shares during the last quarter. Earnest Partners LLC boosted its holdings in Amkor Technology by 3.2% during the 2nd quarter. Earnest Partners LLC now owns 2,423,255 shares of the semiconductor company’s stock valued at $96,979,000 after acquiring an additional 75,364 shares during the period. Geode Capital Management LLC grew its position in Amkor Technology by 6.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,094,296 shares of the semiconductor company’s stock worth $64,101,000 after acquiring an additional 131,106 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Amkor Technology by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,878,912 shares of the semiconductor company’s stock worth $57,495,000 after purchasing an additional 88,226 shares during the period. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Amkor Technology Stock Performance

Shares of Amkor Technology stock opened at $26.06 on Wednesday. The firm has a market capitalization of $6.43 billion, a P/E ratio of 17.61 and a beta of 1.84. The company has a current ratio of 2.06, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21. The business’s fifty day simple moving average is $26.75 and its 200 day simple moving average is $31.55. Amkor Technology has a 12 month low of $24.10 and a 12 month high of $44.86.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the firm posted $0.54 earnings per share. Amkor Technology’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, analysts anticipate that Amkor Technology will post 1.42 EPS for the current year.

Amkor Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, December 4th were paid a $0.0827 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This is a boost from Amkor Technology’s previous quarterly dividend of $0.08. This represents a $0.33 annualized dividend and a yield of 1.27%. Amkor Technology’s dividend payout ratio is currently 22.30%.

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.