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

Amkor Technology (NASDAQ:AMKR) had its price target boosted by DA Davidson from $35.00 to $40.00 in a report published on Tuesday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock. DA Davidson also issued estimates for Amkor Technology’s FY2024 earnings at $1.65 EPS.

Several other research firms have also recently weighed in on AMKR. B. Riley reissued a buy rating and set a $45.00 price objective (up from $43.00) on shares of Amkor Technology in a report on Tuesday. 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 issued a neutral rating and a $32.00 price objective for the company. Finally, Needham & Company LLC reissued a buy rating and issued a $40.00 target price on shares of Amkor Technology in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $37.67.

Amkor Technology Stock Performance

Shares of Amkor Technology stock opened at $32.34 on Tuesday. The business has a fifty day simple moving average of $31.67 and a two-hundred day simple moving average of $29.82. The firm has a market capitalization of $7.95 billion, a P/E ratio of 21.28 and a beta of 1.94. The company has a current ratio of 2.34, a quick ratio of 2.02 and a debt-to-equity ratio of 0.26. Amkor Technology has a 12 month low of $17.58 and a 12 month high of $37.00.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.11 by $0.13. Amkor Technology had a return on equity of 9.53% and a net margin of 5.84%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the firm posted $0.18 earnings per share. Amkor Technology’s revenue was down 7.2% compared to the same quarter last year. On average, equities analysts forecast that Amkor Technology will post 1.78 earnings per share for the current fiscal year.

Amkor Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were given a dividend of $0.079 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.98%. Amkor Technology’s payout ratio is currently 20.39%.

Insider Buying and Selling

In other news, EVP Mark N. Rogers sold 5,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $31.30, for a total value of $156,500.00. Following the completion of the sale, the executive vice president now directly owns 25,280 shares of the company’s stock, valued at $791,264. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Mark N. Rogers sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $31.30, for a total value of $156,500.00. Following the transaction, the executive vice president now directly owns 25,280 shares in the company, valued at $791,264. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Megan Faust sold 2,700 shares of the stock in a transaction dated 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 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 85,500 shares of company stock valued at $2,651,220. 31.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amkor Technology

Several institutional investors have recently added to or reduced their stakes in AMKR. Allworth Financial LP increased its position in Amkor Technology by 1,324.6% in the fourth quarter. Allworth Financial LP now owns 812 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 755 shares during the last quarter. Pineridge Advisors LLC purchased a new position in shares of Amkor Technology in the 4th quarter worth $28,000. Fifth Third Bancorp increased its holdings in shares of Amkor Technology by 65.8% in the 4th quarter. Fifth Third Bancorp now owns 874 shares of the semiconductor company’s stock worth $29,000 after buying an additional 347 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Amkor Technology by 1,414.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 863 shares of the semiconductor company’s stock worth $29,000 after buying an additional 806 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Amkor Technology by 57.0% during the 4th quarter. Blue Trust Inc. now owns 1,487 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 540 shares in the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

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.