Amkor Technology, Inc. (NASDAQ:AMKR) Stock Has Average Target Price of $62.50 According to Analysts

Amkor Technology, Inc. (NASDAQ:AMKR) has received a consensus rating of “Hold” from the eleven brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $62.50.

A number of analysts have weighed in on the company. Bank of America initiated coverage on Amkor Technology in a report on Thursday, August 27th. They set a “buy” rating and a $70.00 price target for the company. The Goldman Sachs Group set a $56.00 target price on Amkor Technology in a report on Tuesday, October 27th. Weiss Ratings lowered Amkor Technology from a “hold (c+)” rating to a “sell (d+)” rating in a research note on Wednesday, October 28th. Needham & Company LLC decreased their price target on shares of Amkor Technology from $90.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, October 27th. Finally, Wall Street Zen cut Amkor Technology from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st.

Amkor Technology Price Performance

AMKR stock opened at $35.66 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.17 and a quick ratio of 1.89. Amkor Technology has a 1 year low of $29.76 and a 1 year high of $96.68. The stock has a market cap of $8.84 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 0.47 and a beta of 2.39. The company has a 50 day simple moving average of $47.24 and a 200 day simple moving average of $56.87.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, October 26th. The semiconductor company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.02). Amkor Technology had a net margin of 8.30% and a return on equity of 13.32%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter last year, the firm posted $0.51 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. Research analysts anticipate that Amkor Technology will post 2.50 EPS for the current fiscal year.

Amkor Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Wednesday, September 2nd were paid a dividend of $0.0835 per share. This represents a $0.33 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, September 2nd. Amkor Technology’s payout ratio is 13.31%.

Insider Activity

In other Amkor Technology news, EVP Mark N. Rogers sold 5,000 shares of Amkor Technology stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $59.78, for a total transaction of $298,900.00. Following the completion of the transaction, the executive vice president owned 38,904 shares in the company, valued at approximately $2,325,681.12. The trade was a 11.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Megan Faust sold 1,000 shares of the stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $46.92, for a total value of $46,920.00. Following the completion of the sale, the chief financial officer directly owned 133,105 shares of the company’s stock, valued at approximately $6,245,286.60. This trade represents a 0.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,000 shares of company stock worth $1,003,370 over the last three months. 26.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amkor Technology

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Amkor Technology during the second quarter valued at about $1,060,005,000. Principal Financial Group Inc. boosted its stake in shares of Amkor Technology by 19.3% during the 1st quarter. Principal Financial Group Inc. now owns 2,622,744 shares of the semiconductor company’s stock valued at $118,107,000 after purchasing an additional 423,629 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new position in Amkor Technology during the second quarter valued at $152,110,000. Bank of New York Mellon Corp bought a new position in shares of Amkor Technology during the second quarter valued at $90,656,000. Finally, Bank of Nova Scotia bought a new stake in shares of Amkor Technology during the second quarter valued at approximately $58,273,000. Institutional investors own 42.76% of the company’s stock.

About Amkor Technology

Amkor Technology, Inc is a provider of outsourced semiconductor packaging and test services. The company helps semiconductor manufacturers and electronics companies assemble, package and test integrated circuits before they are incorporated into finished electronic products.

Amkor’s services include wafer bumping, wafer-level packaging, flip-chip packaging, system-in-package solutions, fan-out packaging, leadframe and laminate-based packaging, and semiconductor testing. Its products and services support applications including mobile and consumer electronics, communications, automotive, computing, industrial equipment, and memory devices.

Founded in 1968, Amkor has grown into a global semiconductor supply-chain partner with manufacturing and testing operations across regions including Asia, Europe and the United States.