Amkor Technology (NASDAQ:AMKR) Coverage Initiated by Analysts at UBS Group

UBS Group began coverage on shares of Amkor Technology (NASDAQ:AMKR) in a report published on Thursday morning, Briefing.com reports. The brokerage issued a buy rating and a $31.00 price target on the semiconductor company’s stock.

A number of other brokerages have also recently weighed in on AMKR. B. Riley assumed coverage on shares of Amkor Technology in a research report on Thursday. They set a buy rating and a $35.00 price target on the stock. StockNews.com lowered shares of Amkor Technology from a buy rating to a hold rating in a report on Tuesday, October 31st. Morgan Stanley began coverage on Amkor Technology in a report on Thursday, November 9th. They issued an equal weight rating and a $27.00 price target for the company. Finally, DA Davidson raised their price objective on Amkor Technology from $32.00 to $36.00 and gave the company a buy rating in a research report on Tuesday, August 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $32.25.

Amkor Technology Stock Up 1.2 %

Shares of NASDAQ AMKR opened at $26.00 on Thursday. The company has a quick ratio of 1.65, a current ratio of 1.95 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $6.39 billion, a PE ratio of 15.76 and a beta of 1.85. The firm has a fifty day moving average of $22.72 and a 200-day moving average of $25.03. Amkor Technology has a 52-week low of $17.58 and a 52-week high of $31.38.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, October 30th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. Amkor Technology had a return on equity of 10.79% and a net margin of 6.11%. The firm’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.24 earnings per share. On average, analysts anticipate that Amkor Technology will post 1.39 EPS for the current year.

Amkor Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 26th. Stockholders of record on Tuesday, December 5th will be given a dividend of $0.079 per share. This is a boost from Amkor Technology’s previous quarterly dividend of $0.08. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Monday, December 4th. Amkor Technology’s payout ratio is presently 18.18%.

Insider Activity

In other news, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $22.52, for a total transaction of $60,804.00. Following the sale, the chief financial officer now directly owns 35,394 shares of the company’s stock, valued at $797,072.88. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Amkor Technology news, EVP Mark N. Rogers sold 5,000 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $23.84, for a total transaction of $119,200.00. Following the transaction, the executive vice president now directly owns 20,815 shares in the company, valued at approximately $496,229.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Megan Faust sold 2,700 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $22.52, for a total transaction of $60,804.00. Following the completion of the sale, the chief financial officer now directly owns 35,394 shares of the company’s stock, valued at approximately $797,072.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,010,400 shares of company stock worth $232,441,240. 53.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amkor Technology

Hedge funds have recently added to or reduced their stakes in the business. Tudor Investment Corp Et Al grew its position in shares of Amkor Technology by 2,204.2% during the 3rd quarter. Tudor Investment Corp Et Al now owns 164,125 shares of the semiconductor company’s stock valued at $3,709,000 after buying an additional 171,925 shares during the last quarter. Morgan Stanley boosted its stake in Amkor Technology by 62.5% in the third quarter. Morgan Stanley now owns 1,764,586 shares of the semiconductor company’s stock valued at $39,880,000 after acquiring an additional 678,911 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in shares of Amkor Technology by 3.2% during the third quarter. Mercer Global Advisors Inc. ADV now owns 15,359 shares of the semiconductor company’s stock valued at $347,000 after purchasing an additional 475 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Amkor Technology by 17.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 137,512 shares of the semiconductor company’s stock worth $3,108,000 after purchasing an additional 20,802 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of Amkor Technology in the 3rd quarter worth approximately $428,000. Institutional investors and hedge funds own 38.69% of the company’s stock.

About Amkor Technology

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and 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.