Amkor Technology (NASDAQ:AMKR) Given New $25.00 Price Target at UBS Group

Key Points

• UBS Group raised its price target for Amkor Technology from $23.00 to $25.00, maintaining a "buy" rating, suggesting a potential downside of 3.81% from the previous close.
• Amkor Technology recently reported quarterly earnings of $0.22 EPS, exceeding analysts' estimates, with revenues up 3.4% compared to the same quarter the previous year.
• In the research community, multiple analysts have varied ratings on Amkor Technology, with seven giving it a "hold" rating and four a "buy" rating, leading to a consensus target price of $27.00.

Amkor Technology (NASDAQ:AMKR - Free Report) had its price objective hoisted by UBS Group from $23.00 to $25.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the semiconductor company's stock.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. decreased their target price on shares of Amkor Technology from $30.00 to $25.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 29th. The Goldman Sachs Group started coverage on shares of Amkor Technology in a research note on Thursday, July 10th. They set a "neutral" rating and a $20.00 price objective for the company. Morgan Stanley dropped their price objective on shares of Amkor Technology from $24.00 to $19.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 29th. DA Davidson dropped their price objective on shares of Amkor Technology from $36.00 to $30.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Finally, KeyCorp reissued a "sector weight" rating on shares of Amkor Technology in a research report on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Amkor Technology has an average rating of "Hold" and an average target price of $26.44.

Amkor Technology Price Performance

Shares of AMKR traded down $0.81 on Tuesday, reaching $21.75. The stock had a trading volume of 2,119,541 shares, compared to its average volume of 2,160,074. Amkor Technology has a twelve month low of $14.03 and a twelve month high of $33.85. The firm has a 50-day moving average of $20.75 and a 200 day moving average of $20.39. The firm has a market capitalization of $5.37 billion, a PE ratio of 17.68 and a beta of 1.85. The company has a quick ratio of 1.83, a current ratio of 1.89 and a debt-to-equity ratio of 0.28.

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

Amkor Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Thursday, June 5th were given a dividend of $0.0827 per share. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, June 5th. Amkor Technology's payout ratio is presently 26.83%.

Insider Activity at Amkor Technology

In other news, EVP Mark N. Rogers sold 15,000 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $23.58, for a total transaction of $353,700.00. Following the transaction, the executive vice president directly owned 23,862 shares of the company's stock, valued at approximately $562,665.96. The trade was a 38.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 26.90% of the company's stock.

Institutional Trading of Amkor Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in AMKR. Royal Bank of Canada increased its stake in shares of Amkor Technology by 100.6% in the first quarter. Royal Bank of Canada now owns 19,345 shares of the semiconductor company's stock worth $349,000 after buying an additional 3,454,012 shares during the last quarter. Norges Bank bought a new stake in shares of Amkor Technology in the fourth quarter worth $32,479,000. SW Investment Management LLC raised 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 valued at $47,859,000 after acquiring an additional 1,250,000 shares in the last quarter. UG Investment Advisers Ltd. acquired a new stake in shares of Amkor Technology during the 1st quarter valued at approximately $21,057,000. Finally, Vanguard Group Inc. raised its position in shares of Amkor Technology by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company's stock valued at $402,414,000 after acquiring an additional 1,092,002 shares in the last quarter. Institutional investors 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.