Amkor Technology (NASDAQ:AMKR) Price Target Increased to $34.00 by Analysts at Morgan Stanley

Amkor Technology (NASDAQ:AMKR) had its price target increased by equities researchers at Morgan Stanley from $32.00 to $34.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price target suggests a potential upside of 4.52% from the company’s current price.

Several other equities research analysts also recently commented on AMKR. DA Davidson upped their price objective on shares of Amkor Technology from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday. B. Riley reissued a “buy” rating and set a $45.00 price objective (up previously from $43.00) on shares of Amkor Technology in a research note on Tuesday. The Goldman Sachs Group started coverage on shares of Amkor Technology in a research report on Thursday, February 29th. They set a “neutral” rating and a $32.00 target price for the company. Fox Advisors started coverage on Amkor Technology in a research report on Thursday, March 14th. They set an “equal weight” rating on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of Amkor Technology in a research report on Tuesday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Amkor Technology Stock Up 3.4 %

NASDAQ AMKR traded up $1.06 during mid-day trading on Tuesday, hitting $32.53. The company’s stock had a trading volume of 1,391,705 shares, compared to its average volume of 929,389. Amkor Technology has a twelve month low of $17.58 and a twelve month high of $37.00. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 22.42 and a beta of 1.96. The company’s 50 day simple moving average is $31.60 and its 200 day simple moving average is $29.73. The company has a current ratio of 2.31, a quick ratio of 2.02 and a debt-to-equity ratio of 0.27.

Amkor Technology (NASDAQ:AMKR) last announced its earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.13. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Amkor Technology had a return on equity of 9.37% and a net margin of 5.53%. Amkor Technology’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 earnings per share. Analysts anticipate that Amkor Technology will post 1.63 earnings per share for the current year.

Insider Activity at Amkor Technology

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $30.63, for a total transaction of $765,750.00. Following the completion of the sale, the chief executive officer now owns 123,728 shares of the company’s stock, valued at $3,789,788.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Amkor Technology news, CFO Megan Faust sold 2,800 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $31.09, for a total transaction of $87,052.00. Following the completion of the transaction, the chief financial officer now owns 53,023 shares in the company, valued at approximately $1,648,485.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $30.63, for a total transaction of $765,750.00. Following the sale, the chief executive officer now directly owns 123,728 shares in the company, valued at approximately $3,789,788.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,500 shares of company stock worth $2,494,720. 31.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. SummerHaven Investment Management LLC raised its holdings in shares of 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. Fifth Third Bancorp raised its stake in shares of Amkor Technology by 65.8% during the fourth quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 347 shares in the last quarter. Retirement Systems of Alabama increased its holdings in Amkor Technology by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 129,277 shares of the semiconductor company’s stock worth $4,301,000 after purchasing an additional 413 shares during the period. Arizona State Retirement System grew its position in shares of Amkor Technology by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 31,473 shares of the semiconductor company’s stock worth $711,000 after buying an additional 428 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in Amkor Technology by 3.5% in the fourth quarter. Assetmark Inc. now owns 12,874 shares of the semiconductor company’s stock worth $428,000 after acquiring an additional 438 shares during the period. 42.76% of the stock is owned by hedge funds and other institutional investors.

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.