Analysts Set Amkor Technology, Inc. (NASDAQ:AMKR) Price Target at $35.63

Amkor Technology, Inc. (NASDAQ:AMKR) has been given a consensus recommendation of “Moderate Buy” by the nine analysts that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $35.63.

A number of research firms have weighed in on AMKR. DA Davidson reduced their target price on Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. StockNews.com cut shares of Amkor Technology from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. The Goldman Sachs Group lowered their target price on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. Morgan Stanley cut their price objective on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Finally, KeyCorp reduced their target price on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th.

Insider Transactions at Amkor Technology

In related news, Director Winston J. Churchill sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the completion of the transaction, the director now directly owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Winston J. Churchill sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total transaction of $659,400.00. Following the completion of the transaction, the director now directly owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 31.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

A number of hedge funds have recently bought and sold shares of the business. M&G Plc purchased a new stake in shares of Amkor Technology during the 1st quarter valued at about $11,435,000. Duality Advisers LP purchased a new stake in Amkor Technology during the 1st quarter valued at $849,000. Capital World Investors bought a new stake in Amkor Technology in the first quarter worth $9,288,000. Vanguard Group Inc. boosted its stake in Amkor Technology by 1.5% during the first quarter. Vanguard Group Inc. now owns 14,976,630 shares of the semiconductor company’s stock worth $482,847,000 after buying an additional 219,638 shares during the period. Finally, Quantbot Technologies LP bought a new position in Amkor Technology during the first quarter valued at $1,257,000. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Amkor Technology Trading Down 1.0 %

NASDAQ AMKR opened at $27.10 on Tuesday. The company has a current ratio of 2.06, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21. Amkor Technology has a 1-year low of $23.44 and a 1-year high of $44.86. The firm has a market cap of $6.68 billion, a PE ratio of 18.31 and a beta of 1.85. The stock has a 50-day moving average of $29.51 and a 200-day moving average of $33.07.

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

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.