Amkor Technology (NASDAQ:AMKR) Price Target Raised to $40.00 at DA Davidson

Amkor Technology (NASDAQ:AMKR) had its target price increased by equities research analysts at DA Davidson from $35.00 to $40.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. DA Davidson’s price target points to a potential upside of 22.96% from the stock’s current price.

Other research analysts have also issued research reports about the company. Fox Advisors initiated coverage on Amkor Technology in a research report on Thursday, March 14th. They issued an “equal weight” rating for the company. The Goldman Sachs Group began coverage on Amkor Technology in a research report on Thursday, February 29th. They issued a “neutral” rating and a $32.00 price target for the company. B. Riley reiterated a “buy” rating and set a $45.00 price objective (up previously from $43.00) on shares of Amkor Technology in a research report on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of Amkor Technology in a report on Tuesday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Amkor Technology Price Performance

AMKR traded up $1.06 during trading on Tuesday, reaching $32.53. 1,391,705 shares of the company traded hands, compared to its average volume of 929,389. Amkor Technology has a 12-month low of $17.58 and a 12-month high of $37.00. The firm has a fifty day simple moving average of $31.60 and a 200 day simple moving average of $29.73. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.02 and a current ratio of 2.31. The company has a market cap of $8.00 billion, a P/E ratio of 22.42 and a beta of 1.96.

Amkor Technology (NASDAQ:AMKR) last posted its earnings results on Monday, April 29th. The semiconductor company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.13. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Amkor Technology had a return on equity of 9.37% and a net margin of 5.53%. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 earnings per share. On average, equities analysts forecast that Amkor Technology will post 1.63 EPS for the current year.

Insider Transactions at Amkor Technology

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vest Financial LLC boosted its position in Amkor Technology by 253.1% during the first quarter. Vest Financial LLC now owns 26,743 shares of the semiconductor company’s stock valued at $862,000 after purchasing an additional 19,170 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Amkor Technology by 1.9% during the first 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. bought a new stake in shares of Amkor Technology in the 1st quarter valued at about $238,000. Louisiana State Employees Retirement System grew its position in shares of Amkor Technology by 2.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 29,700 shares of the semiconductor company’s stock worth $958,000 after buying an additional 700 shares during the last quarter. Finally, State of Michigan Retirement System lifted its position in Amkor Technology by 2.4% during the first quarter. State of Michigan Retirement System now owns 25,349 shares of the semiconductor company’s stock valued at $817,000 after acquiring an additional 600 shares during the last quarter. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

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.