B. Riley Financial Cuts Amkor Technology (NASDAQ:AMKR) Price Target to $75.00

Amkor Technology (NASDAQ:AMKR) had its target price trimmed by B. Riley Financial from $90.00 to $75.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

A number of other research firms also recently issued reports on AMKR. 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 report on Monday, April 6th. Morgan Stanley lifted their price target on shares of Amkor Technology from $45.00 to $69.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. The Goldman Sachs Group boosted their price target on Amkor Technology from $43.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Amkor Technology in a research report on Friday, July 17th. Finally, UBS Group restated a “neutral” rating and set a $80.00 price objective on shares of Amkor Technology in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Amkor Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.25.

Amkor Technology Stock Down 0.6%

AMKR opened at $64.96 on Wednesday. Amkor Technology has a fifty-two week low of $20.86 and a fifty-two week high of $96.68. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.74 and a current ratio of 2.01. The company has a market capitalization of $16.10 billion, a P/E ratio of 37.12 and a beta of 2.20. The stock has a fifty day moving average of $73.36 and a 200-day moving average of $60.67.

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

Amkor Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Wednesday, June 3rd were issued a dividend of $0.0835 per share. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. Amkor Technology’s dividend payout ratio is 18.86%.

Insiders Place Their Bets

In other Amkor Technology news, Director Winston J. Churchill sold 7,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $76.45, for a total transaction of $535,150.00. Following the completion of the sale, the director directly owned 18,888 shares in the company, valued at $1,443,987.60. This represents a 27.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark N. Rogers sold 5,000 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $71.63, for a total value of $358,150.00. Following the completion of the sale, the executive vice president directly owned 38,904 shares in the company, valued at approximately $2,786,693.52. This represents a 11.39% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 114,000 shares of company stock valued at $8,631,450 over the last three months. 26.40% of the stock is owned by corporate insiders.

Institutional Trading of Amkor Technology

Several institutional investors and hedge funds have recently modified their holdings of the business. CoreCap Advisors LLC grew its position in Amkor Technology by 56.4% in the second quarter. CoreCap Advisors LLC now owns 438 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 158 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Amkor Technology in the second quarter worth about $54,000. Smartleaf Asset Management LLC boosted its stake in shares of Amkor Technology by 180.3% in 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 in the last quarter. Root Financial Partners LLC boosted its stake in shares of Amkor Technology by 38.8% in the 4th quarter. Root Financial Partners LLC now owns 937 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 262 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of Amkor Technology by 91.2% during the 3rd quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 447 shares during the last quarter. 42.76% of the stock is currently owned by institutional investors.

Key Amkor Technology News

Here are the key news stories impacting Amkor Technology this week:

• Positive Sentiment: Amkor announced a multi-year partnership with NVIDIA worth $1.5 billion to expand advanced semiconductor packaging and test capacity in the U.S., a significant boost to its AI-related growth outlook. Reuters article
• Positive Sentiment: NVIDIA will provide a prepayment to help fund the expansion, which may reduce near-term capital burden while accelerating capacity buildout for next-generation AI packaging. Business Wire article
• Positive Sentiment: UBS upgraded Amkor Technology from neutral to buy and set a $90 price target, signaling improved analyst confidence in the company’s upside after the NVIDIA deal. The Fly article
• Neutral Sentiment: Short-interest data showed no meaningful shares reported, so it does not appear to be adding a clear bearish or bullish signal for the stock right now.
• Neutral Sentiment: Some commentary noted that Amkor’s long-term investment case still depends on margin expansion and successful execution on advanced packaging projects, including its Arizona facility and other strategic growth initiatives. Seeking Alpha article
• Negative Sentiment: B. Riley Financial lowered its price target to $75, suggesting some analysts still see valuation or execution risk despite the recent rally. American Banking News article

About Amkor Technology

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.