Amkor Technology (NASDAQ:AMKR) Rating Reiterated by B. Riley

Amkor Technology (NASDAQ:AMKR)‘s stock had its “buy” rating reissued by research analysts at B. Riley in a note issued to investors on Tuesday, Benzinga reports. They currently have a $45.00 price target on the semiconductor company’s stock, up from their previous price target of $43.00. B. Riley’s price target suggests a potential upside of 42.99% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of Amkor Technology in a research note on Tuesday. The Goldman Sachs Group assumed coverage on shares of Amkor Technology in a research note on Thursday, February 29th. They issued a “neutral” rating and a $32.00 price objective for the company. Finally, Fox Advisors initiated coverage on Amkor Technology in a research note on Thursday, March 14th. They set an “equal weight” rating on the stock. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.17.

Amkor Technology Trading Up 2.8 %

AMKR opened at $31.47 on Tuesday. The stock has a 50-day moving average of $31.60 and a 200 day moving average of $29.73. 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 12 month low of $17.58 and a 12 month high of $37.00. The firm has a market cap of $7.74 billion, a P/E ratio of 21.55 and a beta of 1.96.

Amkor Technology (NASDAQ:AMKR) last announced 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 firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Amkor Technology had a return on equity of 9.37% and a net margin of 5.53%. The company’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 EPS. As a group, research analysts forecast that Amkor Technology will post 1.63 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was 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 $1,177,525.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $31.23, for a total transaction of $780,750.00. Following the completion of the sale, the chief executive officer now directly owns 124,476 shares of the company’s stock, valued at $3,887,385.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Megan Faust sold 2,700 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $30.34, for a total value of $81,918.00. Following the sale, the chief financial officer now owns 38,811 shares of the company’s stock, valued at approximately $1,177,525.74. The disclosure for this sale can be found here. In the last ninety days, insiders 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 have recently bought and sold shares of the stock. Readystate Asset Management LP acquired a new position in Amkor Technology during the 4th quarter valued at approximately $4,694,000. Trexquant Investment LP purchased a new position in Amkor Technology in the 3rd quarter worth $1,142,000. Invesco Ltd. raised its stake in Amkor Technology by 12.3% in the 3rd quarter. Invesco Ltd. now owns 1,318,158 shares of the semiconductor company’s stock worth $29,790,000 after acquiring an additional 144,280 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Amkor Technology during the 3rd quarter valued at about $4,280,000. Finally, SummerHaven Investment Management LLC increased its holdings in shares of Amkor Technology by 1.4% in the fourth quarter. SummerHaven Investment Management LLC now owns 24,548 shares of the semiconductor company’s stock valued at $817,000 after purchasing an additional 327 shares during the period. 42.76% of the stock is currently 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.