Morgan Stanley Boosts Amkor Technology (NASDAQ:AMKR) Price Target to $34.00

Amkor Technology (NASDAQ:AMKR) had its price objective lifted by Morgan Stanley from $32.00 to $34.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective indicates a potential upside of 4.52% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. DA Davidson upped their price target on shares of Amkor Technology from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of Amkor Technology in a research report on Tuesday. The Goldman Sachs Group started coverage on Amkor Technology in a research report on Thursday, February 29th. They set a “neutral” rating and a $32.00 price target on the stock. Fox Advisors began coverage on shares of Amkor Technology in a report on Thursday, March 14th. They set an “equal weight” rating for the company. Finally, B. Riley reissued a “buy” rating and set a $45.00 price objective (up previously from $43.00) on shares of Amkor Technology in a research report on Tuesday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Amkor Technology Stock Performance

AMKR stock traded up $1.06 during midday trading on Tuesday, reaching $32.53. The company had a trading volume of 1,391,705 shares, compared to its average volume of 929,389. Amkor Technology has a fifty-two week low of $17.58 and a fifty-two week high of $37.00. The firm has a market capitalization of $8.00 billion, a PE ratio of 22.42 and a beta of 1.96. The company has a quick ratio of 2.02, a current ratio of 2.31 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average price of $31.60 and a 200 day moving average price of $29.73.

Amkor Technology (NASDAQ:AMKR) last posted its earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.13. Amkor Technology had a net margin of 5.53% and a return on equity of 9.37%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the business posted $0.18 EPS. Amkor Technology’s revenue was down 7.2% on a year-over-year basis. Analysts anticipate that Amkor Technology will post 1.63 earnings per share for the current year.

Insider Transactions at Amkor Technology

In other Amkor Technology news, CFO Megan Faust sold 2,700 shares of the firm’s 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 directly owns 38,811 shares in the company, valued at approximately $1,177,525.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $31.17, for a total transaction of $779,250.00. Following the completion of the transaction, the chief executive officer now owns 114,476 shares in the company, valued at $3,568,216.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Megan Faust sold 2,700 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 38,811 shares in the company, valued at approximately $1,177,525.74. The disclosure for this sale can be found here. Insiders sold a total of 80,500 shares of company stock worth $2,494,720 over the last three months. 31.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amkor Technology

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

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.