Brokerages Set Amkor Technology, Inc. (NASDAQ:AMKR) Target Price at $31.50

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) have earned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $31.50.

A number of brokerages have issued reports on AMKR. Morgan Stanley dropped 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 report on Tuesday, February 11th. B. Riley dropped their price objective on Amkor Technology from $38.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Melius downgraded Amkor Technology from a “buy” rating to a “hold” rating and decreased their target price for the stock from $34.00 to $30.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. dropped their price target on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Finally, Melius Research lowered shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th.

Amkor Technology Stock Down 6.1 %

AMKR opened at $14.88 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.11 and a quick ratio of 1.90. Amkor Technology has a 12 month low of $14.07 and a 12 month high of $44.86. The stock has a market capitalization of $3.68 billion, a P/E ratio of 10.41 and a beta of 1.88. The business has a 50 day simple moving average of $21.11 and a 200-day simple moving average of $25.24.

Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. On average, equities analysts anticipate that Amkor Technology will post 1.47 earnings per share for the current fiscal year.

Amkor Technology Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th were given a dividend of $0.0827 per share. This represents a $0.33 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Thursday, March 13th. Amkor Technology’s dividend payout ratio is presently 23.08%.

Insider Activity at Amkor Technology

In other Amkor Technology news, EVP Kevin Engel sold 5,489 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total value of $119,056.41. Following the completion of the transaction, the executive vice president now directly owns 1,388 shares in the company, valued at approximately $30,105.72. The trade was a 79.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Agnes C. Kim sold 869,565 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $21.85, for a total value of $18,999,995.25. Following the transaction, the insider now directly owns 10,020,870 shares in the company, valued at approximately $218,956,009.50. This represents a 7.98 % decrease in their position. The disclosure for this sale can be found here. 31.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Amkor Technology

Hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its holdings in shares of Amkor Technology by 467.7% during the 1st quarter. Versant Capital Management Inc now owns 3,009 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 2,479 shares during the period. First Hawaiian Bank acquired a new position in Amkor Technology during the first quarter worth approximately $633,000. Wellington Management Group LLP raised its stake in Amkor Technology by 34.9% during the fourth quarter. Wellington Management Group LLP now owns 1,529,348 shares of the semiconductor company’s stock worth $39,289,000 after purchasing an additional 395,242 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Amkor Technology in the 4th quarter valued at $8,344,000. Finally, Forum Financial Management LP increased its holdings in shares of Amkor Technology by 23.4% during the 4th quarter. Forum Financial Management LP now owns 8,637 shares of the semiconductor company’s stock worth $222,000 after buying an additional 1,639 shares during the last quarter. 42.76% of the stock is owned by institutional investors and hedge funds.

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.