Amkor Technology (NASDAQ:AMKR) Upgraded by KeyCorp to Strong-Buy

Amkor Technology (NASDAQ:AMKR) was upgraded by analysts at KeyCorp to a “strong-buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

AMKR has been the subject of a number of other reports. B. Riley increased their price target on Amkor Technology from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Needham & Company LLC upped their price target on shares of Amkor Technology from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Morgan Stanley boosted their price objective on shares of Amkor Technology from $34.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. initiated 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. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $40.75.

Amkor Technology Stock Performance

Shares of Amkor Technology stock opened at $30.96 on Thursday. The company has a market capitalization of $7.61 billion, a PE ratio of 20.37 and a beta of 1.85. The company has a 50-day simple moving average of $33.12 and a two-hundred day simple moving average of $33.66. Amkor Technology has a one year low of $17.58 and a one year high of $44.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.83 and a current ratio of 2.08.

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

Insider Buying and Selling at Amkor Technology

In other news, Director Winston J. Churchill sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total transaction of $659,400.00. Following the completion of the transaction, the director now directly owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. The sale was disclosed in a filing with the SEC, which is available at this link. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was 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 in the company, valued at approximately $5,510,619.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 value of $659,400.00. Following the transaction, the director now directly owns 19,871 shares of the company’s stock, valued at approximately $655,146.87. The disclosure for this sale can be found here. 31.40% of the stock is owned by corporate insiders.

Institutional Trading of Amkor Technology

Several large investors have recently made changes to their positions in AMKR. BNP Paribas Financial Markets grew its holdings in shares of Amkor Technology by 17.6% during the fourth quarter. BNP Paribas Financial Markets now owns 36,186 shares of the semiconductor company’s stock worth $1,204,000 after buying an additional 5,408 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Amkor Technology by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 438,698 shares of the semiconductor company’s stock worth $14,595,000 after purchasing an additional 12,846 shares in the last quarter. Norges Bank acquired a new position in shares of Amkor Technology during the 4th quarter worth approximately $39,224,000. Corient Private Wealth LLC boosted its stake in Amkor Technology by 12.5% during the fourth quarter. Corient Private Wealth LLC now owns 64,341 shares of the semiconductor company’s stock worth $2,141,000 after buying an additional 7,150 shares during the last quarter. Finally, Assetmark Inc. boosted its position in shares of Amkor Technology by 3.5% during the 4th quarter. Assetmark Inc. now owns 12,874 shares of the semiconductor company’s stock valued at $428,000 after acquiring an additional 438 shares during the last quarter. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

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.