Amkor Technology (NASDAQ:AMKR) Coverage Initiated by Analysts at Needham & Company LLC

Equities researchers at Needham & Company LLC began coverage on shares of Amkor Technology (NASDAQ:AMKR - Get Free Report) in a note issued to investors on Tuesday, MarketBeat reports. The firm set a "buy" rating and a $40.00 price target on the semiconductor company's stock. Needham & Company LLC's target price suggests a potential upside of 18.52% from the stock's previous close.

Several other research firms have also commented on AMKR. The Goldman Sachs Group began coverage on shares of Amkor Technology in a report on Thursday, February 29th. They issued a "neutral" rating and a $32.00 price target on the stock. B. Riley increased their target price on shares of Amkor Technology from $35.00 to $40.00 and gave the stock a "buy" rating in a research note on Tuesday, December 12th. Finally, Fox Advisors assumed coverage on shares of Amkor Technology in a research note on Thursday, March 14th. They set an "equal weight" rating on the stock. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Amkor Technology presently has an average rating of "Moderate Buy" and a consensus target price of $34.33.

Amkor Technology Stock Performance

NASDAQ:AMKR traded up $2.41 during mid-day trading on Tuesday, hitting $33.75. The company's stock had a trading volume of 2,572,686 shares, compared to its average volume of 920,281. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $37.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.31 and a quick ratio of 2.02. The stock has a market cap of $8.30 billion, a price-to-earnings ratio of 23.09 and a beta of 1.96. The business's fifty day moving average is $31.65 and its two-hundred day moving average is $28.87.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last posted its quarterly earnings results on Monday, February 12th. The semiconductor company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.41 by $0.07. Amkor Technology had a net margin of 5.53% and a return on equity of 9.37%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the company earned $0.67 earnings per share. The firm's revenue was down 8.1% on a year-over-year basis. Analysts anticipate that Amkor Technology will post 1.63 EPS for the current fiscal year.

Insider Activity at Amkor Technology

In related news, CFO Megan Faust sold 2,700 shares of the firm's stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $32.00, for a total value of $86,400.00. Following the transaction, the chief financial officer now directly owns 35,394 shares of the company's stock, valued at approximately $1,132,608. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Megan Faust sold 2,700 shares of the firm's stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $32.00, for a total value of $86,400.00. Following the transaction, the chief financial officer now directly owns 35,394 shares of the company's stock, valued at approximately $1,132,608. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $31.23, for a total transaction of $780,750.00. Following the completion of the sale, the chief executive officer now owns 124,476 shares of the company's stock, valued at approximately $3,887,385.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,200 shares of company stock valued at $1,801,870. 53.30% of the stock is owned by corporate insiders.

Institutional Trading of Amkor Technology

A number of hedge funds have recently bought and sold shares of AMKR. Allworth Financial LP raised its holdings in Amkor Technology by 1,324.6% in the 4th quarter. Allworth Financial LP now owns 812 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 755 shares during the last quarter. Pineridge Advisors LLC acquired a new stake in shares of Amkor Technology during the 4th quarter worth approximately $28,000. Fifth Third Bancorp increased its holdings in shares of Amkor Technology by 65.8% during the 4th quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company's stock worth $29,000 after buying an additional 347 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Amkor Technology by 1,414.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 863 shares of the semiconductor company's stock worth $29,000 after buying an additional 806 shares during the last quarter. Finally, West Tower Group LLC acquired a new stake in shares of Amkor Technology during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 42.76% of the company's stock.

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.