Amkor Technology (NASDAQ:AMKR) Raised to Strong-Buy at Zacks Research

Amkor Technology (NASDAQ:AMKR) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

AMKR has been the topic of a number of other research reports. UBS Group restated a “neutral” rating and issued a $80.00 price target on shares of Amkor Technology in a research report on Tuesday, May 26th. Melius Research raised shares of Amkor Technology from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Monday, April 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amkor Technology in a research report on Friday. B. Riley Financial increased their price objective on shares of Amkor Technology from $70.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. Finally, Needham & Company LLC raised their target price on shares of Amkor Technology from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.88.

Amkor Technology Trading Up 6.7%

Shares of NASDAQ:AMKR opened at $66.73 on Monday. The business’s 50 day simple moving average is $73.76 and its 200 day simple moving average is $60.28. Amkor Technology has a 1 year low of $20.86 and a 1 year high of $96.68. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.74. The company has a market capitalization of $16.54 billion, a P/E ratio of 38.13 and a beta of 2.20.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.10. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Amkor Technology had a return on equity of 9.88% and a net margin of 6.17%.The company’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 EPS. On average, research analysts anticipate that Amkor Technology will post 2.08 EPS for the current fiscal year.

Insider Transactions at Amkor Technology

In other Amkor Technology news, Director Roger Anthony Carolin sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $76.24, for a total value of $1,524,800.00. Following the completion of the transaction, the director directly owned 94,409 shares in the company, valued at approximately $7,197,742.16. This represents a 17.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Guillaume Marie Jean Rutten sold 50,000 shares of Amkor Technology stock in a transaction on Friday, May 8th. The stock was sold at an average price of $74.28, for a total transaction of $3,714,000.00. Following the transaction, the director owned 502,558 shares in the company, valued at approximately $37,330,008.24. This trade represents a 9.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 114,000 shares of company stock worth $8,631,450. 26.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amkor Technology

A number of institutional investors have recently made changes to their positions in AMKR. IFP Advisors Inc raised its position in shares of Amkor Technology by 91.2% during the third quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 447 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Amkor Technology by 180.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 684 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 440 shares during the period. Root Financial Partners LLC raised its holdings in Amkor Technology by 38.8% during the 4th quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 262 shares during the last quarter. CoreCap Advisors LLC lifted its position in shares of Amkor Technology by 56.4% in the 2nd quarter. CoreCap Advisors LLC now owns 438 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 158 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Amkor Technology by 61.8% in the 1st quarter. Advisors Asset Management Inc. now owns 2,236 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 854 shares during the last quarter. Institutional investors own 42.76% of the company’s stock.

Amkor Technology Company Profile

Amkor Technology, Inc (NASDAQ:AMKR) is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.