Morgan Stanley Issues Positive Forecast for Amkor Technology (NASDAQ:AMKR) Stock Price

Key Points

• Morgan Stanley has raised its price target for Amkor Technology from $19.00 to $20.00, indicating a potential downside of 19.54% from the stock's previous close while maintaining an "equal weight" rating.
• Amkor Technology reported earnings of $0.22 per share for the last quarter, surpassing analysts' expectations, with revenue of $1.51 billion, a year-over-year increase of 3.4%.
• Currently, the stock has an average rating of "Hold" with a target price of $27.11 according to analysts, reflecting a mix of ratings with seven hold and four buy ratings.

Amkor Technology (NASDAQ:AMKR - Get Free Report) had its price objective upped by research analysts at Morgan Stanley from $19.00 to $20.00 in a note issued to investors on Tuesday, July 29th, Marketbeat reports. The brokerage presently has an "equal weight" rating on the semiconductor company's stock. Morgan Stanley's price objective suggests a potential downside of 9.79% from the stock's current price.

A number of other research analysts have also commented on AMKR. B. Riley lowered Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, April 21st. KeyCorp reaffirmed a "sector weight" rating on shares of Amkor Technology in a report on Thursday, April 17th. DA Davidson lowered their target price on Amkor Technology from $36.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. JPMorgan Chase & Co. dropped their price target on Amkor Technology from $30.00 to $25.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 29th. Finally, UBS Group lifted their price target on Amkor Technology from $23.00 to $25.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $26.44.

Amkor Technology Stock Down 0.8%

AMKR stock opened at $22.17 on Tuesday. Amkor Technology has a twelve month low of $14.03 and a twelve month high of $33.85. The company has a current ratio of 1.89, a quick ratio of 1.70 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $5.48 billion, a P/E ratio of 18.02 and a beta of 1.85. The firm has a 50 day simple moving average of $20.96 and a 200-day simple moving average of $20.28.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The semiconductor company reported $0.22 earnings per share (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 analysts' expectations of $1.42 billion. During the same period last year, the business posted $0.27 earnings per share. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities research analysts predict that Amkor Technology will post 1.47 earnings per share for the current fiscal year.

Insider Activity at Amkor Technology

In other news, major shareholder Sujoda Management, Llc purchased 441,589 shares of Amkor Technology stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average cost of $21.85 per share, for a total transaction of $9,648,719.65. Following the purchase, the insider directly owned 3,789,479 shares of the company's stock, valued at $82,800,116.15. This trade represents a 13.19% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark N. Rogers sold 15,000 shares of Amkor Technology stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $23.58, for a total value of $353,700.00. Following the completion of the transaction, the executive vice president directly owned 23,862 shares of the company's stock, valued at $562,665.96. This represents a 38.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Amkor Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Connable Office Inc. grew its position in shares of Amkor Technology by 77.5% in the 2nd quarter. Connable Office Inc. now owns 20,842 shares of the semiconductor company's stock valued at $437,000 after buying an additional 9,101 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Amkor Technology by 15.1% in the second quarter. Bank of New York Mellon Corp now owns 1,692,661 shares of the semiconductor company's stock worth $35,529,000 after purchasing an additional 222,507 shares during the last quarter. South Dakota Investment Council increased its position in shares of Amkor Technology by 35.4% during the second quarter. South Dakota Investment Council now owns 40,593 shares of the semiconductor company's stock valued at $852,000 after acquiring an additional 10,603 shares during the last quarter. Retirement Systems of Alabama increased its position in shares of Amkor Technology by 0.6% during the second quarter. Retirement Systems of Alabama now owns 138,900 shares of the semiconductor company's stock valued at $2,916,000 after acquiring an additional 817 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its position in Amkor Technology by 1,050.4% in the second quarter. Hantz Financial Services Inc. now owns 1,369 shares of the semiconductor company's stock worth $29,000 after buying an additional 1,250 shares during the last quarter. Institutional investors and hedge funds 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.