Zacks Investment Research upgraded shares of Amkor Technology (NASDAQ:AMKR) from a hold rating to a buy rating in a research note released on Wednesday, Zacks.com reports. Zacks Investment Research currently has $15.00 price target on the semiconductor company’s stock.
According to Zacks, “Amkor reported strong second-quarter results, wherein both earnings and revenues topped estimates. Strong performance by advanced product lines drove the top line. Further, the growing need for advanced packaging technologies in consumer and communications markets was a major positive. Amkor’s strong momentum across ADAS infotainment applications was also a tailwind. Further, it witnessed growing demand for advanced chips and modules in the computing market. The company remains optimistic about growth opportunities associated with 5G, which will strengthen its presence in the communications space. The stock has outperformed the industry it belongs to over a year. However, coronavirus impacts, sluggishness in the company’s mainstream product lines and rising competition in the outsourced packaging market remain headwinds.”
AMKR has been the subject of several other reports. ValuEngine downgraded Amkor Technology from a sell rating to a strong sell rating in a report on Tuesday, July 28th. BidaskClub upgraded shares of Amkor Technology from a buy rating to a strong-buy rating in a research note on Tuesday, June 9th. reissued a sell rating on shares of Amkor Technology in a research report on Tuesday, June 9th. Deutsche Bank boosted their price objective on shares of Amkor Technology from $10.00 to $11.00 and gave the stock a hold rating in a report on Tuesday, April 28th. Finally, Sidoti increased their target price on Amkor Technology from $10.00 to $14.00 and gave the company a buy rating in a research note on Tuesday, April 28th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $11.94.
Shares of AMKR opened at $13.60 on Wednesday. Amkor Technology has a fifty-two week low of $5.40 and a fifty-two week high of $15.80. The firm’s 50-day simple moving average is $12.23 and its two-hundred day simple moving average is $10.79. The stock has a market cap of $3.28 billion, a PE ratio of 12.03 and a beta of 1.72. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.83 and a current ratio of 2.06.
Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results on Monday, July 27th. The semiconductor company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.25. Amkor Technology had a return on equity of 13.77% and a net margin of 5.94%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the firm posted ($0.04) EPS. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. Equities research analysts predict that Amkor Technology will post 1 EPS for the current year.
In other news, EVP Guillaume Marie Jean Rutten sold 7,838 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $12.85, for a total transaction of $100,718.30. Following the transaction, the executive vice president now directly owns 7,838 shares of the company’s stock, valued at approximately $100,718.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Megan Faust sold 4,500 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $11.07, for a total value of $49,815.00. Following the completion of the transaction, the chief financial officer now owns 11,719 shares in the company, valued at $129,729.33. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,338 shares of company stock worth $1,031,053. 59.30% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Amalgamated Bank lifted its holdings in Amkor Technology by 9.2% in the fourth quarter. Amalgamated Bank now owns 15,847 shares of the semiconductor company’s stock valued at $206,000 after acquiring an additional 1,340 shares during the period. Stone Ridge Asset Management LLC increased its position in shares of Amkor Technology by 6.6% during the 1st quarter. Stone Ridge Asset Management LLC now owns 26,000 shares of the semiconductor company’s stock valued at $203,000 after purchasing an additional 1,600 shares during the last quarter. Alpha Windward LLC lifted its stake in shares of Amkor Technology by 4.9% in the 1st quarter. Alpha Windward LLC now owns 38,760 shares of the semiconductor company’s stock worth $302,000 after purchasing an additional 1,800 shares during the period. Horizon Kinetics Asset Management LLC boosted its holdings in shares of Amkor Technology by 10.2% in the first quarter. Horizon Kinetics Asset Management LLC now owns 24,137 shares of the semiconductor company’s stock worth $188,000 after buying an additional 2,234 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Amkor Technology by 24.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,540 shares of the semiconductor company’s stock worth $90,000 after buying an additional 2,239 shares during the last quarter. Institutional investors own 37.72% of the company’s stock.
Amkor Technology Company Profile
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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