Amkor Technology, Inc. (NASDAQ:AMKR) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Amkor Technology has a consensus analyst rating of “Hold”, based on coverage from 11 research firms; seven rate it Hold and four rate it Buy. The average 12-month price target is about $69.88.
• The company’s latest quarterly results beat expectations, with EPS of $0.33 versus $0.23 expected and revenue of $1.68 billion versus $1.63 billion expected. Revenue rose 27.5% year over year.
• Amkor recently paid a quarterly dividend of $0.0835 per share, or $0.33 annualized, which implies a yield of about 0.4%. Insider selling was also noted, including sales by a director and the CFO.

Shares of Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) have been given an average rating of "Hold" by the eleven research firms that are presently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $69.8750.

A number of research firms have weighed in on AMKR. The Goldman Sachs Group upped their price objective on shares of Amkor Technology from $43.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, April 28th. Morgan Stanley upped their price objective on shares of Amkor Technology from $45.00 to $69.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 28th. Needham & Company LLC upped their price objective on shares of Amkor Technology from $65.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Wall Street Zen cut shares of Amkor Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 21st. Finally, B. Riley Financial upped their target price on shares of Amkor Technology from $70.00 to $90.00 and gave the company a "neutral" rating in a research note on Thursday.

Amkor Technology Stock Performance

NASDAQ:AMKR opened at $78.72 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.74. The firm has a 50-day moving average of $74.59 and a two-hundred day moving average of $56.80. The stock has a market cap of $19.51 billion, a P/E ratio of 44.98 and a beta of 2.25. Amkor Technology has a 1-year low of $20.59 and a 1-year high of $96.68.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.10. The company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.63 billion. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. The firm's revenue for the quarter was up 27.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 EPS. On average, research analysts expect that Amkor Technology will post 2.08 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd were paid a $0.0835 dividend. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Wednesday, June 3rd. Amkor Technology's dividend payout ratio is 18.86%.

Insiders Place Their Bets

In other news, Director Guillaume Marie Jean Rutten sold 50,000 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $74.28, for a total value of $3,714,000.00. Following the sale, the director owned 502,558 shares in the company, valued at approximately $37,330,008.24. This represents a 9.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Megan Faust sold 1,000 shares of the company's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $70.30, for a total transaction of $70,300.00. Following the completion of the sale, the chief financial officer owned 132,138 shares in the company, valued at approximately $9,289,301.40. This trade represents a 0.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 119,000 shares of company stock worth $8,928,600. Company insiders own 26.40% of the company's stock.

Institutional Investors Weigh In On Amkor Technology

Institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its stake in shares of Amkor Technology by 180.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 440 shares in the last quarter. Root Financial Partners LLC raised its stake in shares of Amkor Technology by 38.8% in the 4th quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company's stock valued at $37,000 after purchasing an additional 262 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Amkor Technology by 91.2% in the 3rd quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 447 shares in the last quarter. Hollencrest Capital Management acquired a new stake in shares of Amkor Technology in the 1st quarter valued at about $45,000. Finally, State of Wyoming acquired a new stake in Amkor Technology during the fourth quarter worth about $41,000. Institutional investors and hedge funds own 42.76% of the company's stock.

About Amkor Technology

Amkor Technology, Inc NASDAQ: AMKR is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.

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