Analysts Set Amkor Technology, Inc. (NASDAQ:AMKR) Price Target at $35.50

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) have been assigned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $35.50.

A number of brokerages have issued reports on AMKR. Morgan Stanley reduced their price objective on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Melius Research downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. KeyCorp reduced their price objective on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. JPMorgan Chase & Co. reduced their price objective on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Finally, DA Davidson reduced their price objective on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th.

Amkor Technology Stock Up 3.1 %

Shares of NASDAQ AMKR opened at $26.72 on Friday. The company has a quick ratio of 1.84, a current ratio of 2.06 and a debt-to-equity ratio of 0.21. Amkor Technology has a 52 week low of $24.10 and a 52 week high of $44.86. The firm’s fifty day moving average is $26.10 and its 200 day moving average is $29.96. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 18.05 and a beta of 1.83.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.01). Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts expect that Amkor Technology will post 1.38 earnings per share for the current year.

Amkor Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, December 4th were issued a dividend of $0.0827 per share. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Wednesday, December 4th. This is a boost from Amkor Technology’s previous quarterly dividend of $0.08. Amkor Technology’s payout ratio is 22.30%.

Hedge Funds Weigh In On Amkor Technology

A number of hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its stake in Amkor Technology by 8.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,188 shares of the semiconductor company’s stock worth $168,000 after purchasing an additional 333 shares in the last quarter. Ritholtz Wealth Management boosted its stake in Amkor Technology by 1.7% in the 3rd quarter. Ritholtz Wealth Management now owns 21,717 shares of the semiconductor company’s stock worth $665,000 after purchasing an additional 357 shares in the last quarter. Larson Financial Group LLC boosted its stake in Amkor Technology by 46.3% in the 3rd quarter. Larson Financial Group LLC now owns 1,834 shares of the semiconductor company’s stock worth $56,000 after purchasing an additional 580 shares in the last quarter. Highland Capital Management LLC boosted its stake in Amkor Technology by 10.9% in the 3rd quarter. Highland Capital Management LLC now owns 7,332 shares of the semiconductor company’s stock worth $224,000 after purchasing an additional 720 shares in the last quarter. Finally, Freedom Investment Management Inc. boosted its stake in Amkor Technology by 5.4% in the 3rd quarter. Freedom Investment Management Inc. now owns 15,476 shares of the semiconductor company’s stock worth $474,000 after purchasing an additional 792 shares in the last quarter. 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.