Amkor Technology (NASDAQ:AMKR) Raised to “Strong-Buy” at KeyCorp

KeyCorp upgraded shares of Amkor Technology (NASDAQ:AMKR) to a strong-buy rating in a report issued on Thursday, Zacks.com reports.

Several other equities research analysts have also commented on AMKR. JPMorgan Chase & Co. initiated coverage on shares of Amkor Technology in a report on Monday, July 1st. They issued an overweight rating and a $48.00 price target for the company. Morgan Stanley upped their target price on Amkor Technology from $34.00 to $38.00 and gave the stock an equal weight rating in a report on Tuesday, July 2nd. Needham & Company LLC lifted their price target on Amkor Technology from $40.00 to $45.00 and gave the company a buy rating in a report on Tuesday, July 30th. Finally, B. Riley upped their price objective on Amkor Technology from $45.00 to $50.00 and gave the stock a buy rating in a research note on Thursday, June 20th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Amkor Technology presently has a consensus rating of Moderate Buy and an average price target of $40.75.

Amkor Technology Trading Down 2.2 %

Shares of NASDAQ AMKR opened at $30.96 on Thursday. Amkor Technology has a fifty-two week low of $17.58 and a fifty-two week high of $44.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.83 and a current ratio of 2.08. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 20.37 and a beta of 1.85. The business’s 50 day moving average price is $33.12 and its 200-day moving average price is $33.65.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 EPS. On average, sell-side analysts expect that Amkor Technology will post 1.53 earnings per share for the current year.

Amkor Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.079 per share. This represents a $0.32 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Tuesday, September 3rd. Amkor Technology’s payout ratio is 20.39%.

Insider Buying and Selling

In other news, Director Winston J. Churchill sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total value of $659,400.00. Following the completion of the transaction, the director now owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Amkor Technology news, Director Winston J. Churchill sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total value of $659,400.00. Following the completion of the transaction, the director now owns 19,871 shares in the company, valued at $655,146.87. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $42.94, for a total value of $1,073,500.00. Following the sale, the chief executive officer now owns 128,333 shares in the company, valued at $5,510,619.02. The disclosure for this sale can be found here. 31.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amkor Technology

Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in shares of Amkor Technology by 1.3% in the second quarter. SG Americas Securities LLC now owns 23,694 shares of the semiconductor company’s stock valued at $948,000 after acquiring an additional 296 shares in the last quarter. CWM LLC lifted its holdings in Amkor Technology by 15.1% in the 2nd quarter. CWM LLC now owns 2,359 shares of the semiconductor company’s stock valued at $94,000 after purchasing an additional 309 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Amkor Technology by 8.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,188 shares of the semiconductor company’s stock worth $168,000 after purchasing an additional 333 shares during the last quarter. Retirement Systems of Alabama grew its holdings in shares of Amkor Technology by 0.3% during the first quarter. Retirement Systems of Alabama now owns 129,621 shares of the semiconductor company’s stock worth $4,179,000 after buying an additional 344 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in shares of Amkor Technology by 3.5% in the first quarter. QRG Capital Management Inc. now owns 11,837 shares of the semiconductor company’s stock valued at $382,000 after buying an additional 405 shares during the last quarter. 42.76% of the stock is currently 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.