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

Amkor Technology (NASDAQ:AMKR) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. UBS Group reaffirmed a “neutral” rating and issued a $80.00 price objective on shares of Amkor Technology in a research note on Tuesday, May 26th. The Goldman Sachs Group raised their target price on Amkor Technology from $43.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Needham & Company LLC upped their price target on Amkor Technology from $65.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Melius Research raised shares of Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Monday, April 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Amkor Technology in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $69.88.

Amkor Technology Price Performance

Shares of AMKR opened at $66.73 on Monday. The business’s 50-day moving average is $73.76 and its 200-day moving average is $60.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.74. The company has a market capitalization of $16.54 billion, a price-to-earnings ratio of 38.13 and a beta of 2.20. Amkor Technology has a fifty-two week low of $20.86 and a fifty-two week high of $96.68.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.10. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The business’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 earnings per share. Equities research analysts expect that Amkor Technology will post 2.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Guillaume Marie Jean Rutten sold 50,000 shares of Amkor Technology stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $74.28, for a total transaction of $3,714,000.00. Following the sale, the director owned 502,558 shares of the company’s stock, valued at approximately $37,330,008.24. This trade represents a 9.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gil C. Tily sold 15,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $77.30, for a total value of $1,159,500.00. Following the completion of the transaction, the director owned 108,806 shares of the company’s stock, valued at $8,410,703.80. The trade was a 12.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 114,000 shares of company stock valued at $8,631,450 in the last quarter. 26.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amkor Technology

Several institutional investors and hedge funds have recently bought and sold shares of AMKR. Fisher Asset Management LLC increased its stake in Amkor Technology by 204.5% in the fourth quarter. Fisher Asset Management LLC now owns 2,095,027 shares of the semiconductor company’s stock valued at $82,712,000 after acquiring an additional 1,407,109 shares during the period. UBS Group AG boosted its holdings in Amkor Technology by 205.5% during the fourth quarter. UBS Group AG now owns 1,254,658 shares of the semiconductor company’s stock valued at $49,534,000 after purchasing an additional 843,983 shares in the last quarter. Black Swift Group LLC bought a new stake in shares of Amkor Technology in the 4th quarter valued at approximately $797,000. GF Fund Management CO. LTD. bought a new stake in shares of Amkor Technology in the 4th quarter valued at approximately $4,868,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Amkor Technology in the 4th quarter worth approximately $841,000. Institutional investors own 42.76% of the company’s stock.

Amkor Technology Company Profile

Amkor Technology, Inc (NASDAQ:AMKR) is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.