Amkor Technology (NASDAQ:AMKR) Stock Rating Reaffirmed by Needham & Company LLC

Amkor Technology (NASDAQ:AMKR)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports. They presently have a $40.00 price target on the semiconductor company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 31.88% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group started coverage on shares of Amkor Technology in a report on Thursday, February 29th. They issued a “neutral” rating and a $32.00 target price on the stock. Fox Advisors started coverage on shares of Amkor Technology in a report on Thursday, March 14th. They issued an “equal weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Amkor Technology has an average rating of “Moderate Buy” and a consensus target price of $37.67.

Amkor Technology Stock Down 6.2 %

AMKR stock opened at $30.33 on Tuesday. The company has a current ratio of 2.31, a quick ratio of 2.02 and a debt-to-equity ratio of 0.27. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $37.00. The company has a fifty day simple moving average of $31.65 and a 200 day simple moving average of $29.80. The firm has a market cap of $7.46 billion, a PE ratio of 19.89 and a beta of 1.96.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.13. Amkor Technology had a net margin of 5.84% and a return on equity of 9.63%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the business earned $0.18 EPS. Amkor Technology’s quarterly revenue was down 7.2% compared to the same quarter last year. Sell-side analysts anticipate that Amkor Technology will post 1.63 EPS for the current fiscal year.

Insider Transactions at Amkor Technology

In other news, CFO Megan Faust sold 2,700 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $30.34, for a total transaction of $81,918.00. Following the transaction, the chief financial officer now owns 38,811 shares in the company, valued at approximately $1,177,525.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Megan Faust sold 2,700 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $30.34, for a total transaction of $81,918.00. Following the transaction, the chief financial officer now owns 38,811 shares in the company, valued at approximately $1,177,525.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $31.23, for a total transaction of $780,750.00. Following the transaction, the chief executive officer now owns 124,476 shares in the company, valued at approximately $3,887,385.48. The disclosure for this sale can be found here. In 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 company insiders.

Institutional Trading of Amkor Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMKR. CWM LLC increased its stake in Amkor Technology by 81.1% in the third quarter. CWM LLC now owns 3,661 shares of the semiconductor company’s stock valued at $83,000 after acquiring an additional 1,640 shares during the period. SG Americas Securities LLC bought a new stake in Amkor Technology in the third quarter valued at about $703,000. Exchange Traded Concepts LLC increased its stake in Amkor Technology by 77.8% in the third quarter. Exchange Traded Concepts LLC now owns 11,176 shares of the semiconductor company’s stock valued at $253,000 after acquiring an additional 4,891 shares during the period. Foster & Motley Inc. increased its stake in Amkor Technology by 14.5% in the third quarter. Foster & Motley Inc. now owns 31,884 shares of the semiconductor company’s stock valued at $721,000 after acquiring an additional 4,034 shares during the period. Finally, Bailard Inc. increased its stake in Amkor Technology by 20.0% in the third quarter. Bailard Inc. now owns 12,241 shares of the semiconductor company’s stock valued at $277,000 after acquiring an additional 2,041 shares during the period. Institutional investors own 42.76% 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 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.