Amkor Technology (NASDAQ:AMKR) Now Covered by KeyCorp

Equities researchers at KeyCorp assumed coverage on shares of Amkor Technology (NASDAQ:AMKR) in a report released on Friday, Marketbeat Ratings reports. The brokerage set an “overweight” rating and a $38.00 price target on the semiconductor company’s stock. KeyCorp’s target price points to a potential upside of 20.06% from the company’s current price.

Several other equities research analysts also recently issued reports on AMKR. B. Riley increased their target price on Amkor Technology from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Morgan Stanley increased their price objective on Amkor Technology from $34.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. began coverage on Amkor Technology in a report on Monday, July 1st. They set an “overweight” rating and a $48.00 target price for the company. Finally, Needham & Company LLC increased their price target on shares of Amkor Technology from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.75.

Amkor Technology Stock Performance

NASDAQ:AMKR opened at $31.65 on Friday. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $44.86. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.08 and a quick ratio of 1.83. The business has a fifty day simple moving average of $33.55 and a two-hundred day simple moving average of $33.69. The company has a market capitalization of $7.78 billion, a P/E ratio of 20.82 and a beta of 1.85.

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

Insiders Place Their Bets

In other news, Director Winston J. Churchill sold 20,000 shares of Amkor Technology stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the completion of the sale, the director now directly owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Amkor Technology news, Director Winston J. Churchill sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the transaction, the director now directly owns 19,871 shares in the company, valued at $655,146.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $42.94, for a total transaction of $1,073,500.00. Following the completion of the sale, the chief executive officer now directly owns 128,333 shares of the company’s stock, valued at approximately $5,510,619.02. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC bought a new position in Amkor Technology during the 2nd quarter worth approximately $386,000. Chase Investment Counsel Corp purchased a new stake in Amkor Technology during the 2nd quarter valued at $3,481,000. Northwestern Mutual Wealth Management Co. boosted its position 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 valued at $168,000 after buying an additional 333 shares during the period. Creative Planning increased its position in shares of Amkor Technology by 77.0% in the second quarter. Creative Planning now owns 29,088 shares of the semiconductor company’s stock valued at $1,164,000 after acquiring an additional 12,658 shares during the period. Finally, Driehaus Capital Management LLC purchased a new position in shares of Amkor Technology in the second quarter valued at about $58,379,000. Institutional investors 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.