Amkor Technology (NASDAQ:AMKR) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Amkor Technology (NASDAQ:AMKR) in a report released on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $34.00 target price on the semiconductor company’s stock.

Several other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. StockNews.com downgraded Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. KeyCorp decreased their target price on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Melius Research lowered Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Finally, DA Davidson decreased their price objective on Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $31.50.

Amkor Technology Stock Performance

AMKR stock opened at $21.59 on Tuesday. 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 twelve month low of $21.59 and a twelve month high of $44.86. The business’s fifty day moving average is $25.62 and its 200-day moving average is $28.20. The company has a market cap of $5.32 billion, a P/E ratio of 14.59 and a beta of 1.81.

Amkor Technology (NASDAQ:AMKR) last posted its earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. Equities research analysts forecast that Amkor Technology will post 1.38 EPS for the current year.

Institutional Trading of Amkor Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in AMKR. Vanguard Group Inc. grew its position in Amkor Technology by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company’s stock valued at $402,414,000 after purchasing an additional 1,092,002 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Amkor Technology during the 4th quarter worth about $570,000. Sei Investments Co. grew its holdings in shares of Amkor Technology by 11.6% in the 4th quarter. Sei Investments Co. now owns 575,849 shares of the semiconductor company’s stock valued at $14,794,000 after acquiring an additional 59,822 shares in the last quarter. American Century Companies Inc. increased its position in shares of Amkor Technology by 24.4% in the fourth quarter. American Century Companies Inc. now owns 2,709,002 shares of the semiconductor company’s stock valued at $69,594,000 after acquiring an additional 530,771 shares during the last quarter. Finally, 1620 Investment Advisors Inc. raised its holdings in Amkor Technology by 24.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 4,768 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 942 shares in the last quarter. 42.76% of the stock is currently owned by institutional investors and hedge funds.

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.