Amkor Technology (NASDAQ:AMKR) Given New $32.00 Price Target at The Goldman Sachs Group

Amkor Technology (NASDAQ:AMKR) had its target price lowered by The Goldman Sachs Group from $36.00 to $32.00 in a research note published on Tuesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the semiconductor company’s stock.

Other analysts have also recently issued reports about the stock. StockNews.com upgraded shares of Amkor Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. KeyCorp dropped their target price on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday. Morgan Stanley lowered their price target on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Needham & Company LLC cut their price objective on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.63.

Amkor Technology Price Performance

Shares of AMKR opened at $26.00 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.83. The company’s fifty day moving average price is $30.21 and its 200-day moving average price is $33.13. Amkor Technology has a 1-year low of $21.92 and a 1-year high of $44.86. The firm has a market capitalization of $6.41 billion, a PE ratio of 17.57 and a beta of 1.84.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the company posted $0.54 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts predict that Amkor Technology will post 1.42 EPS for the current year.

Amkor Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Tuesday, September 3rd were issued a $0.079 dividend. This represents a $0.32 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Tuesday, September 3rd. Amkor Technology’s payout ratio is 20.95%.

Insider Transactions at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total transaction of $315,100.00. Following the transaction, the chief executive officer now directly owns 204,971 shares in the company, valued at approximately $6,458,636.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total value of $315,100.00. Following the completion of the sale, the chief executive officer now owns 204,971 shares of the company’s stock, valued at approximately $6,458,636.21. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Winston J. Churchill sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total transaction of $659,400.00. Following the sale, the director now owns 19,871 shares of the company’s stock, valued at $655,146.87. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Amkor Technology by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 14,976,630 shares of the semiconductor company’s stock worth $482,847,000 after acquiring an additional 219,638 shares in the last quarter. Earnest Partners LLC grew its stake in Amkor Technology by 3.2% during the 2nd quarter. Earnest Partners LLC now owns 2,423,255 shares of the semiconductor company’s stock worth $96,979,000 after purchasing an additional 75,364 shares in the last quarter. American Century Companies Inc. grew its position in shares of Amkor Technology by 54.4% during the second quarter. American Century Companies Inc. now owns 1,673,314 shares of the semiconductor company’s stock worth $66,966,000 after buying an additional 589,530 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Amkor Technology in the 2nd quarter valued at approximately $58,379,000. Finally, Ceredex Value Advisors LLC purchased a new position in Amkor Technology in the third quarter valued at $42,610,000. 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.