Amkor Technology’s (AMKR) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Amkor Technology (NASDAQ:AMKR) in a research note published on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $34.00 price objective on the semiconductor company’s stock.

Several other analysts have also recently commented on AMKR. JPMorgan Chase & Co. lowered their target price on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. The Goldman Sachs Group lowered their target price on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. Melius cut shares of Amkor Technology from a “buy” rating to a “hold” rating and lowered their target price for the stock from $34.00 to $30.00 in a research note on Monday, January 6th. Morgan Stanley lowered their target price on shares of Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Melius Research cut shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Amkor Technology has a consensus rating of “Hold” and a consensus price target of $31.50.

Amkor Technology Trading Up 1.6 %

Shares of AMKR opened at $22.19 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84. The firm has a 50 day simple moving average of $25.45 and a 200-day simple moving average of $28.11. Amkor Technology has a 1-year low of $21.46 and a 1-year high of $44.86. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 14.99 and a beta of 1.81.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. Equities analysts forecast that Amkor Technology will post 1.38 EPS for the current fiscal year.

Institutional Trading of Amkor Technology

Several institutional investors have recently made changes to their positions in AMKR. Sanctuary Advisors LLC acquired a new position in shares of Amkor Technology during the 2nd quarter valued at $386,000. CWM LLC lifted its holdings in shares of Amkor Technology by 530.1% during the 3rd quarter. CWM LLC now owns 14,863 shares of the semiconductor company’s stock valued at $455,000 after acquiring an additional 12,504 shares in the last quarter. Ritholtz Wealth Management lifted its holdings in shares of Amkor Technology by 1.7% during the 3rd quarter. Ritholtz Wealth Management now owns 21,717 shares of the semiconductor company’s stock valued at $665,000 after acquiring an additional 357 shares in the last quarter. Ulland Investment Advisors LLC acquired a new position in shares of Amkor Technology during the 3rd quarter valued at $82,000. Finally, Teamwork Financial Advisors LLC acquired a new position in shares of Amkor Technology during the 3rd quarter valued at $269,000. 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.