Needham & Company LLC Reaffirms “Buy” Rating for Amkor Technology (NASDAQ:AMKR)

Amkor Technology (NASDAQ:AMKR)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a report released on Tuesday, Benzinga reports. They presently have a $40.00 price objective on the semiconductor company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 27.11% from the company’s previous close.

A number of other analysts have also commented on the company. Fox Advisors began coverage on Amkor Technology in a report on Thursday, March 14th. They set an “equal weight” rating on the stock. The Goldman Sachs Group began coverage on Amkor Technology in a report on Thursday, February 29th. They set a “neutral” rating and a $32.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Amkor Technology currently has an average rating of “Moderate Buy” and an average target price of $34.33.

Amkor Technology Stock Performance

Shares of Amkor Technology stock opened at $31.47 on Tuesday. The business’s fifty day simple moving average is $31.60 and its 200 day simple moving average is $29.73. The firm has a market capitalization of $7.74 billion, a P/E ratio of 21.55 and a beta of 1.96. Amkor Technology has a 12 month low of $17.58 and a 12 month high of $37.00. 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 (NASDAQ:AMKR) last issued its quarterly earnings results on Monday, February 12th. The semiconductor company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.68 billion. Amkor Technology had a return on equity of 9.37% and a net margin of 5.53%. Amkor Technology’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period last year, the company posted $0.67 earnings per share. As a group, analysts anticipate that Amkor Technology will post 1.63 EPS for the current year.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, CFO Megan Faust sold 2,700 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 38,811 shares in the company, valued at $1,177,525.74. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction 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 transaction, the chief financial officer now directly owns 38,811 shares in the company, valued at $1,177,525.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of Amkor Technology stock in a transaction on Friday, March 15th. The shares were sold at an average price of $31.23, for a total value of $780,750.00. Following the completion of the transaction, the chief executive officer now owns 124,476 shares of the company’s stock, valued at $3,887,385.48. The disclosure for this sale can be found here. Insiders have sold a total of 80,500 shares of company stock worth $2,494,720 over the last ninety days. 31.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amkor Technology

Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in Amkor Technology by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,860,585 shares of the semiconductor company’s stock worth $494,421,000 after acquiring an additional 244,026 shares during the last quarter. Vanguard Group Inc. increased its stake in Amkor Technology by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 14,756,992 shares of the semiconductor company’s stock worth $490,965,000 after acquiring an additional 959,838 shares during the last quarter. SW Investment Management LLC increased its stake in Amkor Technology by 9.3% in the 3rd quarter. SW Investment Management LLC now owns 2,350,000 shares of the semiconductor company’s stock worth $53,110,000 after acquiring an additional 200,000 shares during the last quarter. AQR Capital Management LLC increased its stake in Amkor Technology by 39.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,939,583 shares of the semiconductor company’s stock worth $43,835,000 after acquiring an additional 547,604 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Amkor Technology by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,852,309 shares of the semiconductor company’s stock worth $61,626,000 after acquiring an additional 141,725 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.