Amkor Technology (NASDAQ:AMKR) Now Covered by Analysts at B. Riley

B. Riley started coverage on shares of Amkor Technology (NASDAQ:AMKR) in a report released on Thursday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $35.00 price target on the semiconductor company’s stock.

Other equities research analysts have also issued research reports about the stock. StockNews.com lowered shares of Amkor Technology from a buy rating to a hold rating in a research note on Tuesday, October 31st. Morgan Stanley started coverage on shares of Amkor Technology in a research note on Thursday, November 9th. They set an equal weight rating and a $27.00 price target for the company. Finally, DA Davidson raised their price target on shares of Amkor Technology from $32.00 to $36.00 and gave the stock a buy rating in a research note on Tuesday, August 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $32.25.

Amkor Technology Price Performance

AMKR stock opened at $26.00 on Thursday. The stock has a market capitalization of $6.39 billion, a PE ratio of 15.76 and a beta of 1.85. The company’s 50-day moving average is $22.72 and its 200-day moving average is $25.03. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.95 and a quick ratio of 1.65. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $31.38.

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

Amkor Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 26th. Shareholders of record on Tuesday, December 5th will be issued a $0.079 dividend. This represents a $0.32 annualized dividend and a yield of 1.22%. This is an increase from Amkor Technology’s previous quarterly dividend of $0.08. The ex-dividend date is Monday, December 4th. Amkor Technology’s dividend payout ratio (DPR) is presently 18.18%.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, major shareholder James J. Kim sold 10,000,000 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $23.22, for a total value of $232,200,000.00. Following the completion of the transaction, the insider now directly owns 39,594,980 shares of the company’s stock, valued at approximately $919,395,435.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction on Friday, October 20th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder James J. Kim sold 10,000,000 shares of Amkor Technology stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $23.22, for a total transaction of $232,200,000.00. Following the sale, the insider now directly owns 39,594,980 shares of the company’s stock, valued at $919,395,435.60. The disclosure for this sale can be found here. Insiders sold a total of 10,010,400 shares of company stock valued at $232,441,240 in the last three months. Company insiders own 53.30% of the company’s stock.

Institutional Trading of Amkor Technology

Hedge funds have recently made changes to their positions in the stock. Tudor Investment Corp Et Al raised its position in Amkor Technology by 2,204.2% in the 3rd quarter. Tudor Investment Corp Et Al now owns 164,125 shares of the semiconductor company’s stock worth $3,709,000 after purchasing an additional 171,925 shares during the period. Morgan Stanley raised its position in Amkor Technology by 62.5% in the 3rd quarter. Morgan Stanley now owns 1,764,586 shares of the semiconductor company’s stock worth $39,880,000 after purchasing an additional 678,911 shares during the period. Mercer Global Advisors Inc. ADV raised its position in Amkor Technology by 3.2% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 15,359 shares of the semiconductor company’s stock worth $347,000 after purchasing an additional 475 shares during the period. The Manufacturers Life Insurance Company raised its position in Amkor Technology by 17.8% in 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 purchased a new position in Amkor Technology in the 3rd quarter worth $428,000. 38.69% of the stock is owned by institutional investors.

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.