Amkor Technology, Inc. (AMKR) Receives $7.00 Average PT from Analysts

Amkor Technology, Inc. (NASDAQ:AMKR) has earned an average rating of “Sell” from the eight research firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $7.00.

Several research firms have recently commented on AMKR. BidaskClub upgraded shares of Amkor Technology from a “strong sell” rating to a “sell” rating in a research report on Friday, December 28th. Deutsche Bank decreased their target price on shares of Amkor Technology from $10.00 to $7.00 and set a “hold” rating on the stock in a research report on Tuesday, October 30th. Sidoti began coverage on shares of Amkor Technology in a research report on Friday, January 4th. They set a “neutral” rating on the stock. ValuEngine raised shares of Amkor Technology from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. Finally, Citigroup cut their price target on shares of Amkor Technology from $8.50 to $7.00 and set a “sell” rating on the stock in a research note on Wednesday, October 31st.

NASDAQ AMKR traded up $0.08 on Friday, reaching $7.45. The stock had a trading volume of 48,997 shares, compared to its average volume of 977,803. The company has a quick ratio of 1.18, a current ratio of 1.38 and a debt-to-equity ratio of 0.70. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 12.84 and a beta of 1.89. Amkor Technology has a 12-month low of $5.72 and a 12-month high of $11.68.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, October 29th. The semiconductor company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.06. Amkor Technology had a net margin of 4.55% and a return on equity of 8.97%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the business posted $0.25 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. Analysts anticipate that Amkor Technology will post 0.49 EPS for the current fiscal year.

In related news, insider Stephen Douglas Kelley purchased 150,000 shares of the business’s stock in a transaction on Tuesday, December 11th. The shares were bought at an average price of $6.33 per share, with a total value of $949,500.00. Following the completion of the purchase, the insider now directly owns 168,750 shares in the company, valued at approximately $1,068,187.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 57.90% of the company’s stock.

Several hedge funds have recently modified their holdings of AMKR. First Trust Advisors LP raised its stake in shares of Amkor Technology by 3.7% in the 2nd quarter. First Trust Advisors LP now owns 238,912 shares of the semiconductor company’s stock valued at $2,052,000 after acquiring an additional 8,488 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Amkor Technology by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,177,990 shares of the semiconductor company’s stock valued at $10,119,000 after acquiring an additional 20,820 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Amkor Technology by 17.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,255,596 shares of the semiconductor company’s stock valued at $10,786,000 after acquiring an additional 183,532 shares during the period. GAM Holding AG purchased a new position in shares of Amkor Technology in the 2nd quarter valued at $100,000. Finally, BlackRock Inc. grew its holdings in Amkor Technology by 5.4% during the 2nd quarter. BlackRock Inc. now owns 7,715,303 shares of the semiconductor company’s stock valued at $66,274,000 after purchasing an additional 394,139 shares in the last quarter. 38.34% 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 and internationally. The company offers turnkey packaging and test services, including semiconductor wafer bumps, wafer probes, wafer back-grinds, package design, packaging, and test and drop shipment services.

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