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

JPMorgan Chase & Co. began coverage on shares of Amkor Technology (NASDAQ:AMKR) in a research note released on Monday, Marketbeat reports. The firm issued an overweight rating and a $48.00 price objective on the semiconductor company’s stock.

AMKR has been the subject of a number of other research reports. Needham & Company LLC restated a buy rating and set a $40.00 price objective on shares of Amkor Technology in a report on Tuesday, April 30th. B. Riley lifted their target price on Amkor Technology from $45.00 to $50.00 and gave the company a buy rating in a research report on Thursday, June 20th. Morgan Stanley lifted their target price on Amkor Technology from $32.00 to $34.00 and gave the company an equal weight rating in a research report on Tuesday, April 30th. DA Davidson lifted their target price on Amkor Technology from $35.00 to $40.00 and gave the company a buy rating in a research report on Tuesday, April 30th. Finally, Fox Advisors initiated coverage on Amkor Technology in a research report on Thursday, March 14th. They set an equal weight rating for the company. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $40.43.

Amkor Technology Price Performance

Shares of Amkor Technology stock opened at $40.30 on Monday. The stock has a market cap of $9.91 billion, a price-to-earnings ratio of 26.51 and a beta of 1.86. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.08 and a current ratio of 2.34. The stock has a 50 day moving average price of $34.46 and a 200-day moving average price of $32.70. Amkor Technology has a one year low of $17.58 and a one year high of $41.86.

Amkor Technology (NASDAQ:AMKR) last announced its earnings results on Monday, April 29th. The semiconductor company reported $0.24 EPS for the quarter, topping 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 firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the business earned $0.18 EPS. The company’s quarterly revenue was down 7.2% on a year-over-year basis. Equities analysts expect that Amkor Technology will post 1.78 EPS for the current year.

Amkor Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Tuesday, June 4th were given a $0.079 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Tuesday, June 4th. Amkor Technology’s payout ratio is 20.39%.

Insider Transactions at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $33.37, for a total transaction of $834,250.00. Following the transaction, the chief executive officer now directly owns 104,476 shares in the company, valued at approximately $3,486,364.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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 transaction, the executive vice president now directly owns 25,280 shares in the company, valued at approximately $791,264. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $33.37, for a total value of $834,250.00. Following the transaction, the chief executive officer now owns 104,476 shares in the company, valued at $3,486,364.12. The disclosure for this sale can be found here. In the last three months, insiders sold 75,000 shares of company stock valued at $2,414,000. Corporate insiders own 31.40% of the company’s stock.

Institutional Trading of Amkor Technology

Several large investors have recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC grew its stake in Amkor Technology by 1.4% during the 4th quarter. SummerHaven Investment Management LLC now owns 24,548 shares of the semiconductor company’s stock valued at $817,000 after purchasing an additional 327 shares during the last quarter. Retirement Systems of Alabama grew its stake in Amkor Technology by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 129,621 shares of the semiconductor company’s stock valued at $4,179,000 after purchasing an additional 344 shares during the last quarter. Fifth Third Bancorp grew its stake in Amkor Technology by 65.8% during the 4th quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 347 shares during the last quarter. QRG Capital Management Inc. grew its stake in Amkor Technology by 3.5% during the 1st quarter. QRG Capital Management Inc. now owns 11,837 shares of the semiconductor company’s stock valued at $382,000 after purchasing an additional 405 shares during the last quarter. Finally, Assetmark Inc. grew its stake in Amkor Technology by 3.5% during the 4th quarter. Assetmark Inc. now owns 12,874 shares of the semiconductor company’s stock valued at $428,000 after purchasing an additional 438 shares during the last quarter. Hedge funds and other institutional investors 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.