Amkor Technology (NASDAQ:AMKR) Given Buy Rating at B. Riley

B. Riley reissued their buy rating on shares of Amkor Technology (NASDAQ:AMKR) in a research note published on Tuesday morning, Benzinga reports. They currently have a $45.00 price objective on the semiconductor company’s stock, up from their previous price objective of $43.00.

A number of other brokerages have also weighed in on AMKR. Fox Advisors assumed coverage on shares of Amkor Technology in a report on Thursday, March 14th. They issued an equal weight rating on the stock. The Goldman Sachs Group initiated coverage on shares of Amkor Technology in a research report on Thursday, February 29th. They set a neutral rating and a $32.00 target price for the company. Finally, Needham & Company LLC reaffirmed a buy rating and set a $40.00 price target on shares of Amkor Technology in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Amkor Technology has a consensus rating of Moderate Buy and a consensus price target of $37.00.

Amkor Technology Stock Up 2.8 %

Shares of NASDAQ AMKR opened at $32.35 on Tuesday. The firm has a market cap of $7.95 billion, a P/E ratio of 22.16 and a beta of 1.96. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.02 and a current ratio of 2.31. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $37.00. The firm’s 50 day moving average price is $31.60 and its 200 day moving average price is $29.73.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.13. Amkor Technology had a return on equity of 9.37% and a net margin of 5.53%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the business earned $0.18 earnings per share. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Amkor Technology will post 1.63 earnings per share for the current year.

Amkor Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were paid a dividend of $0.079 per share. The ex-dividend date was Monday, March 11th. This represents a $0.32 annualized dividend and a dividend yield of 0.98%. Amkor Technology’s dividend payout ratio is presently 21.23%.

Insider Buying and Selling

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $31.17, for a total transaction of $779,250.00. Following the sale, the chief executive officer now directly owns 114,476 shares in the company, valued at approximately $3,568,216.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $31.17, for a total value of $779,250.00. Following the sale, the chief executive officer now owns 114,476 shares in the company, valued at approximately $3,568,216.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $30.34, for a total value of $81,918.00. Following the completion of the transaction, the chief financial officer now owns 38,811 shares of the company’s stock, valued at $1,177,525.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 80,500 shares of company stock worth $2,494,720. 31.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amkor Technology

Several institutional investors and hedge funds have recently made changes to their positions in AMKR. Retirement Systems of Alabama increased its stake in Amkor Technology by 0.3% during the first quarter. Retirement Systems of Alabama now owns 129,621 shares of the semiconductor company’s stock valued at $4,179,000 after purchasing an additional 344 shares during the last quarter. Vest Financial LLC boosted its holdings in shares of Amkor Technology by 253.1% in the 1st quarter. Vest Financial LLC now owns 26,743 shares of the semiconductor company’s stock valued at $862,000 after buying an additional 19,170 shares during the period. Principal Financial Group Inc. grew its position in shares of Amkor Technology by 1.9% during the 1st quarter. Principal Financial Group Inc. now owns 447,168 shares of the semiconductor company’s stock valued at $14,417,000 after buying an additional 8,470 shares during the last quarter. Whalen Wealth Management Inc. acquired a new stake in Amkor Technology during the first quarter worth about $238,000. Finally, Louisiana State Employees Retirement System lifted its holdings in Amkor Technology by 2.4% in the first quarter. Louisiana State Employees Retirement System now owns 29,700 shares of the semiconductor company’s stock worth $958,000 after acquiring an additional 700 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.