As Benzinga reports, Morgan Stanley increased their price target on Amkor Technology (NASDAQ:AMKR – free report ) from $34.00 to $38.00 in a research report published on Tuesday morning. The brokerage now rates the semiconductor company’s shares with an equal weighting.
Other analysts have also commented on AMKR recently. Needham & Company LLC reaffirmed a buy rating on shares of Amkor Technology and set a $40.00 price target on the stock in a research note on Tuesday, April 30th. JPMorgan Chase & Co. initiated coverage on Amkor Technology in a research note on Monday. The firm gave the stock an overweight rating and a $48.00 price target on the stock. Fox Advisors initiated coverage on Amkor Technology in a research note on Thursday, March 14th. The firm gave the stock an equal weight rating. DA Davidson boosted their price target on Amkor Technology from $35.00 to $40.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. Finally, The Goldman Sachs Group boosted their price target on Amkor Technology from $32.00 to $36.00 and gave the stock a neutral rating in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating. Based on data from MarketBeat.com, the stock has an average rating of a “moderate buy” and a consensus target price of $40.43.
Check out our latest stock analysis for Amkor Technology
Amkor Technology shares fell 0.0%
AMKR shares opened trading at $40.22 on Tuesday. The stock’s 50-day simple moving average is $34.25 and its 200-day simple moving average is $32.65. The company’s debt-to-equity ratio is 0.26, quick ratio is 2.08 and current ratio is 2.34. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio (PE) of 26.46 and a beta of 1.86. Amkor Technology’s 52-week low is $17.58 and its 52-week high is $41.86.
Amkor Technology (NASDAQ:AMKR – Get free report ) last released its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.13. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Amkor Technology had return on equity of 9.53% and net margin of 5.84%. The company’s revenue was down 7.2% year-over-year. During the same period last year, the company earned $0.18 earnings per share. Equity analysts expect Amkor Technology to post earnings of $1.78 per share this year.
Amkor Technology announces dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Tuesday, June 4th were paid a dividend of $0.079 per share. The ex-dividend date for this dividend was Tuesday, June 4th. This equates to a dividend of $0.32 on an annualized basis, or a yield of 0.79%. Amkor Technology’s dividend payout ratio is currently 20.39%.
Insiders bet
In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $31.17, for a total value of $779,250.00. Following the transaction, the CEO now owns 114,476 shares of the company’s stock, valued at $3,568,216.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Gil C. Tilley sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $32.20, for a total value of $644,000.00. Following the transaction, the director now owns 129,218 shares of the company’s stock, valued at $4,160,819.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Additionally, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction that took place on Tuesday, April 16th. The shares were sold at an average price of $31.17, for a total value of $779,250.00. Following the completion of the transaction, the CEO now owns 114,476 shares of the company’s stock, valued at approximately $3,568,216.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,000 shares of the company’s stock, valued at $2,414,000. 31.40% of the stock is owned by company insiders.
Institutional Investors Invest in Amkor Technology
Several hedge funds and other institutional investors recently modified their holdings of the stock. The Vanguard Group increased its holdings in Amkor Technology by 1.5% in the first quarter. The Vanguard Group purchased an additional 219,638 shares in the last quarter, giving it a total holdings of 14,976,630 shares of the semiconductor company valued at $482,847,000. Dimensional Fund Advisors increased its holdings in Amkor Technology by 1.7% in the fourth quarter. Dimensional Fund Advisors purchased an additional 244,026 shares in the last quarter, giving it a total holdings of 14,860,585 shares of the semiconductor company valued at $494,421,000. Charles Schwab Investment Management increased its holdings in Amkor Technology by 8.3% in the fourth quarter. Charles Schwab Investment Management Co. now owns 1,852,309 shares of the semiconductor company’s stock valued at $61,626,000 after purchasing an additional 141,725 shares in the last quarter. The Goldman Sachs Group increased its holdings in Amkor Technology by 4.7% in the fourth quarter. The Goldman Sachs Group now owns 1,410,504 shares of the semiconductor company’s stock valued at $46,927,000 after purchasing an additional 63,104 shares in the last quarter. Finally, Norges Bank acquired a new stake in Amkor Technology in the fourth quarter valued at approximately $39,224,000. Institutional investors and hedge funds own 42.76% of the company’s stock.
Amkor Technology Company Profile
(Get your free report)
Amkor Technology, Inc provides semiconductor packaging and test outsourcing services in the United States, Japan, Europe, the Middle East, Africa and Asia Pacific. The company offers turnkey packaging and test services including semiconductor wafer bump, wafer probe, wafer backgrind, package design, packaging, system level and final test, and direct delivery services, flip chip scale package products for smartphones, tablets and other mobile consumer electronics, flip chip stacked chip scale packages for stacking memory digital baseband in mobile devices and used as application processors, 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.
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