Amkor Technology (NASDAQ:AMKR) Given New $38.00 Price Target at Morgan Stanley

Amkor Technology (NASDAQ:AMKR) had its price objective raised by Morgan Stanley from $34.00 to $38.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the semiconductor company’s stock.

A number of other analysts also recently commented on AMKR. Needham & Company LLC restated a buy rating and issued a $40.00 target price on shares of Amkor Technology in a research note on Tuesday, April 30th. JPMorgan Chase & Co. began coverage on Amkor Technology in a research note on Monday. They issued an overweight rating and a $48.00 target price on the stock. Fox Advisors began coverage on Amkor Technology in a research note on Thursday, March 14th. They issued an equal weight rating on the stock. DA Davidson upped their target price on Amkor Technology from $35.00 to $40.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. Finally, The Goldman Sachs Group upped their target price on Amkor Technology from $32.00 to $36.00 and gave the stock a neutral rating in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $40.43.

Amkor Technology Stock Down 0.0 %

Shares of AMKR stock opened at $40.22 on Tuesday. The stock’s 50-day simple moving average is $34.25 and its 200-day simple moving average is $32.65. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.08 and a current ratio of 2.34. The firm has a market capitalization of $9.89 billion, a PE ratio of 26.46 and a beta of 1.86. Amkor Technology has a fifty-two week low of $17.58 and a fifty-two week high of $41.86.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.13. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Amkor Technology had a return on equity of 9.53% and a net margin of 5.84%. The company’s revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 earnings per share. Equities analysts expect that Amkor Technology will post 1.78 earnings per share for the current year.

Amkor Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.079 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.32 dividend on an annualized basis and a yield of 0.79%. Amkor Technology’s dividend payout ratio is currently 20.39%.

Insiders Place Their Bets

In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $31.17, for a total value of $779,250.00. Following the transaction, the chief executive officer now owns 114,476 shares in the company, valued at $3,568,216.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Gil C. Tily sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $32.20, for a total value of $644,000.00. Following the transaction, the director now owns 129,218 shares in the company, valued at $4,160,819.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $31.17, for a total value of $779,250.00. Following the completion of the transaction, the chief executive officer now owns 114,476 shares in the company, valued at approximately $3,568,216.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,000 shares of company stock worth $2,414,000. 31.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amkor Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Amkor Technology by 1.5% in the first quarter. Vanguard Group Inc. now owns 14,976,630 shares of the semiconductor company’s stock valued at $482,847,000 after purchasing an additional 219,638 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Amkor Technology by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 14,860,585 shares of the semiconductor company’s stock valued at $494,421,000 after purchasing an additional 244,026 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Amkor Technology by 8.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,852,309 shares of the semiconductor company’s stock valued at $61,626,000 after purchasing an additional 141,725 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Amkor Technology by 4.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,410,504 shares of the semiconductor company’s stock valued at $46,927,000 after purchasing an additional 63,104 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Amkor Technology in the fourth quarter valued at approximately $39,224,000. Institutional investors and hedge funds own 42.76% of the company’s stock.

Amkor Technology Company Profile

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.