Amkor Technology Inc. (AMKR) Raised to “Buy” at Zacks Investment Research
Amkor Technology Inc. (NASDAQ:AMKR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $11.00 price target on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 16.65% from the stock’s current price.
According to Zacks, “Amkor is the world’s largest independent provider of semiconductor packaging and test services. Also, the company is one of the leading developers of advanced semiconductor packaging and test technology. The company offers one of the industry’s broadest integrated sets of packaging and test services, which are the final procedures necessary to prepare semiconductor devices for further use. Its customers outsource the packaging and testing of semiconductor chips to the company in order to benefit from the our expertise in the development and implementation. “
A number of other research analysts also recently commented on the company. Credit Suisse Group AG reaffirmed a “neutral” rating on shares of Amkor Technology in a report on Tuesday, August 16th. Citigroup Inc. increased their target price on Amkor Technology from $5.00 to $6.20 and gave the stock a “sell” rating in a report on Wednesday, August 3rd. Finally, Deutsche Bank AG increased their target price on Amkor Technology from $6.00 to $7.50 and gave the stock a “hold” rating in a report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $7.93.
Amkor Technology (NASDAQ:AMKR) traded down 3.78% on Tuesday, hitting $9.43. The stock had a trading volume of 949,139 shares. Amkor Technology has a 12-month low of $4.09 and a 12-month high of $10.13. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 83.45 and a beta of 2.29. The company’s 50 day moving average price is $9.28 and its 200-day moving average price is $7.03.
Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, August 1st. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.10. Amkor Technology had a return on equity of 3.00% and a net margin of 0.72%. The company had revenue of $917 million for the quarter, compared to the consensus estimate of $876.28 million. During the same quarter last year, the business posted $0.08 EPS. Amkor Technology’s quarterly revenue was up 24.4% compared to the same quarter last year. Equities research analysts anticipate that Amkor Technology will post $0.42 EPS for the current year.
In related news, Director James W. Zug sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $7.56, for a total value of $75,600.00. Following the sale, the director now owns 55,828 shares of the company’s stock, valued at approximately $422,059.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Charles Stone sold 6,600 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $9.25, for a total value of $61,050.00. Following the completion of the sale, the insider now directly owns 6,600 shares in the company, valued at approximately $61,050. The disclosure for this sale can be found here. 58.70% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of Amkor Technology by 30.4% in the first quarter. JPMorgan Chase & Co. now owns 3,984,705 shares of the company’s stock valued at $23,470,000 after buying an additional 929,822 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Amkor Technology during the second quarter valued at $137,000. Dimensional Fund Advisors LP increased its stake in shares of Amkor Technology by 12.9% in the second quarter. Dimensional Fund Advisors LP now owns 9,458,265 shares of the company’s stock valued at $54,384,000 after buying an additional 1,078,260 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of Amkor Technology during the second quarter valued at $1,649,000. Finally, GSA Capital Partners LLP increased its stake in shares of Amkor Technology by 5.1% in the second quarter. GSA Capital Partners LLP now owns 273,595 shares of the company’s stock valued at $1,573,000 after buying an additional 13,300 shares during the last quarter. 31.95% of the stock is currently owned by institutional investors and hedge funds.
About Amkor Technology
Amkor Technology, Inc is a provider of outsourced semiconductor packaging and test services. The Company’s packaging and test services are designed to meet application and chip specific requirements, including the type of interconnect technology employed, size, thickness and electrical, and mechanical and thermal performance.
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