Amkor Technology (NASDAQ:AMKR) Price Target Raised to $36.00

Amkor Technology (NASDAQ:AMKR - Free Report) had its price target hoisted by The Goldman Sachs Group from $32.00 to $36.00 in a report issued on Wednesday, Benzinga reports. They currently have a neutral rating on the semiconductor company's stock.

A number of other research analysts have also recently weighed in on the stock. Needham & Company LLC reaffirmed a buy rating and set a $40.00 price target on shares of Amkor Technology in a research report on Tuesday. Fox Advisors assumed coverage on shares of Amkor Technology in a report on Thursday, March 14th. They set an equal weight rating on the stock. DA Davidson increased their price target on Amkor Technology from $35.00 to $40.00 and gave the company a buy rating in a report on Tuesday. Morgan Stanley upped their target price on Amkor Technology from $32.00 to $34.00 and gave the stock an equal weight rating in a research report on Tuesday. Finally, B. Riley reissued a buy rating and set a $45.00 price target (up from $43.00) on shares of Amkor Technology in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $37.67.

Amkor Technology Trading Down 6.2 %

Shares of NASDAQ AMKR traded down $2.02 during trading on Wednesday, hitting $30.33. 2,153,826 shares of the company traded hands, compared to its average volume of 962,825. The company has a quick ratio of 2.02, a current ratio of 2.31 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $7.46 billion, a P/E ratio of 19.89 and a beta of 1.96. The company has a 50-day moving average price of $31.65 and a 200-day moving average price of $29.80. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $37.00.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last announced its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.11 by $0.13. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Amkor Technology had a return on equity of 9.63% and a net margin of 5.84%. The firm's revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 earnings per share. On average, equities analysts predict that Amkor Technology will post 1.63 EPS for the current year.

Amkor Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Tuesday, March 12th were issued a $0.079 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Monday, March 11th. Amkor Technology's dividend payout ratio is currently 20.39%.

Insider Buying and Selling at Amkor Technology

In related news, CFO Megan Faust sold 2,700 shares of the company's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $30.34, for a total value of $81,918.00. Following the sale, the chief financial officer now directly owns 38,811 shares of the company's stock, valued at $1,177,525.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Megan Faust sold 2,700 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $30.34, for a total value of $81,918.00. Following the completion of the sale, the chief financial officer now directly owns 38,811 shares of the company's stock, valued at $1,177,525.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $31.23, for a total value of $780,750.00. Following the transaction, the chief executive officer now directly owns 124,476 shares in the company, valued at approximately $3,887,385.48. The disclosure for this sale can be found here. Insiders sold a total of 80,500 shares of company stock worth $2,494,720 in the last 90 days. 31.40% of the stock is owned by corporate insiders.

Institutional Trading of Amkor Technology

A number of institutional investors and hedge funds have recently modified their holdings of the business. Readystate Asset Management LP bought a new stake in shares of Amkor Technology during the 4th quarter valued at about $4,694,000. Trexquant Investment LP acquired a new stake in shares of Amkor Technology during the 3rd quarter worth approximately $1,142,000. Invesco Ltd. lifted its holdings in shares of Amkor Technology by 12.3% in the 3rd quarter. Invesco Ltd. now owns 1,318,158 shares of the semiconductor company's stock worth $29,790,000 after purchasing an additional 144,280 shares during the last quarter. Wellington Management Group LLP acquired a new position in Amkor Technology during the 3rd quarter valued at approximately $4,280,000. Finally, SummerHaven Investment Management LLC increased its position in Amkor Technology by 1.4% in the fourth quarter. SummerHaven Investment Management LLC now owns 24,548 shares of the semiconductor company's stock worth $817,000 after buying an additional 327 shares during the period. 42.76% of the stock is owned by institutional investors and hedge funds.

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.