Zacks Investment Research upgraded shares of Amkor Technology Inc. (NASDAQ:AMKR) from a hold rating to a buy rating in a research report report published on Tuesday morning. Zacks Investment Research currently has $11.00 target price on the stock.
According to Zacks, “Amkor is the world’s largest independent provider of semiconductor packaging and test services. Also, the company is one of the leading developers of advanced semiconductor packaging and test technology. The company offers one of the industry’s broadest integrated sets of packaging and test services, which are the final procedures necessary to prepare semiconductor devices for further use. Its customers outsource the packaging and testing of semiconductor chips to the company in order to benefit from the our expertise in the development and implementation. “
AMKR has been the topic of a number of other research reports. Citigroup Inc. increased their target price on Amkor Technology from $5.00 to $6.20 and gave the company a sell rating in a research note on Wednesday, August 3rd. Credit Suisse Group AG reissued a neutral rating on shares of Amkor Technology in a research note on Tuesday, August 16th. Finally, Deutsche Bank AG upped their price target on shares of Amkor Technology from $6.00 to $7.50 and gave the company a hold rating in a research report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $7.93.
Shares of Amkor Technology (NASDAQ:AMKR) opened at 9.33 on Tuesday. Amkor Technology has a one year low of $4.09 and a one year high of $10.13. The firm has a market cap of $2.22 billion, a P/E ratio of 82.57 and a beta of 2.30. The firm has a 50 day moving average price of $9.28 and a 200-day moving average price of $7.03.
Amkor Technology (NASDAQ:AMKR) last released its earnings results on Monday, August 1st. The company reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.10. The business had revenue of $917 million for the quarter, compared to analysts’ expectations of $876.28 million. Amkor Technology had a return on equity of 3.00% and a net margin of 0.72%. The firm’s revenue was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 earnings per share. Analysts forecast that Amkor Technology will post $0.42 earnings per share for the current year.
In other news, insider John Charles Stone sold 3,400 shares of the stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $9.25, for a total transaction of $31,450.00. Following the completion of the sale, the insider now directly owns 3,400 shares in the company, valued at $31,450. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James W. Zug sold 10,000 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $7.56, for a total transaction of $75,600.00. Following the sale, the director now owns 55,828 shares of the company’s stock, valued at $422,059.68. The disclosure for this sale can be found here. Company insiders own 58.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its stake in Amkor Technology by 46.2% in the third quarter. BNP Paribas Arbitrage SA now owns 13,193 shares of the company’s stock worth $128,000 after buying an additional 4,172 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Amkor Technology during the second quarter worth $137,000. Principal Financial Group Inc. raised its stake in Amkor Technology by 31.0% in the second quarter. Principal Financial Group Inc. now owns 25,064 shares of the company’s stock worth $144,000 after buying an additional 5,925 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in Amkor Technology during the second quarter worth $144,000. Finally, A.R.T. Advisors LLC purchased a new stake in Amkor Technology during the second quarter worth $239,000. Institutional investors own 31.95% of the company’s stock.
About Amkor Technology
Amkor Technology, Inc is a provider of outsourced semiconductor packaging and test services. The Company’s packaging and test services are designed to meet application and chip specific requirements, including the type of interconnect technology employed, size, thickness and electrical, and mechanical and thermal performance.
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