Amkor Technology (NASDAQ:AMKR) Price Target Raised to $28.00 at Needham & Company LLC

Key Points

• Amkor Technology had its price target raised from $22.00 to $28.00 by Needham & Company LLC, suggesting a potential upside of 31.89% from its current price.
• The company recently reported earnings of $0.22 per share, exceeding analysts' estimates, with revenues of $1.51 billion, a year-over-year increase of 3.4%.
• While Needham maintains a "buy" rating, other analysts have mixed views, with some lowering their ratings and targets, leading to a consensus rating of "hold" for Amkor Technology.

Amkor Technology (NASDAQ:AMKR - Free Report) had its target price upped by Needham & Company LLC from $22.00 to $28.00 in a report released on Tuesday morning, Marketbeat.com reports. Needham & Company LLC currently has a buy rating on the semiconductor company's stock.

Several other analysts also recently issued reports on AMKR. KeyCorp reissued a "sector weight" rating on shares of Amkor Technology in a research note on Thursday, April 17th. B. Riley downgraded Amkor Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 21st. DA Davidson cut their price objective on Amkor Technology from $36.00 to $30.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Morgan Stanley dropped their price target on Amkor Technology from $24.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. dropped their price objective on Amkor Technology from $30.00 to $25.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $26.44.

Amkor Technology Stock Performance

Shares of NASDAQ AMKR traded down $1.14 during trading on Tuesday, hitting $23.94. The company had a trading volume of 4,966,020 shares, compared to its average volume of 1,952,882. The stock has a 50 day simple moving average of $20.67 and a 200 day simple moving average of $20.41. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.83 and a current ratio of 1.89. Amkor Technology has a 12 month low of $14.03 and a 12 month high of $33.85. The firm has a market capitalization of $5.91 billion, a P/E ratio of 19.46 and a beta of 1.85.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The semiconductor company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. Amkor Technology had a return on equity of 7.23% and a net margin of 4.80%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the company earned $0.27 earnings per share. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, analysts anticipate that Amkor Technology will post 1.47 earnings per share for the current year.

Amkor Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Thursday, June 5th were given a $0.0827 dividend. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Thursday, June 5th. Amkor Technology's dividend payout ratio (DPR) is presently 26.83%.

Institutional Trading of Amkor Technology

Several large investors have recently made changes to their positions in AMKR. Royal Bank of Canada lifted its stake in shares of Amkor Technology by 100.6% in the 1st quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company's stock valued at $349,000 after purchasing an additional 3,454,012 shares during the last quarter. Norges Bank acquired a new position in shares of Amkor Technology during the 4th quarter worth about $32,479,000. SW Investment Management LLC boosted its position in shares of Amkor Technology by 89.3% during the 1st quarter. SW Investment Management LLC now owns 2,650,000 shares of the semiconductor company's stock worth $47,859,000 after acquiring an additional 1,250,000 shares in the last quarter. UG Investment Advisers Ltd. acquired a new position in shares of Amkor Technology during the 1st quarter worth about $21,057,000. Finally, Vanguard Group Inc. grew its stake in Amkor Technology by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company's stock worth $402,414,000 after buying an additional 1,092,002 shares during the last quarter. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

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.