Amkor Technology (NASDAQ:AMKR) Earns “Buy” Rating from Needham & Company LLC

Amkor Technology (NASDAQ:AMKR)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $34.00 price target on the semiconductor company’s stock. Needham & Company LLC’s price target suggests a potential upside of 39.57% from the company’s current price.

Several other analysts also recently weighed in on the company. Melius Research downgraded Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. KeyCorp dropped their target price on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. DA Davidson cut their price target on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Melius cut shares of Amkor Technology from a “buy” rating to a “hold” rating and decreased their price objective for the company from $34.00 to $30.00 in a research note on Monday, January 6th. Finally, The Goldman Sachs Group cut their price objective on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Amkor Technology has a consensus rating of “Hold” and an average target price of $35.25.

Amkor Technology Stock Up 0.1 %

Shares of AMKR stock opened at $24.36 on Tuesday. The stock’s fifty day moving average price is $25.73 and its 200 day moving average price is $28.31. Amkor Technology has a 1-year low of $23.33 and a 1-year high of $44.86. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 16.46 and a beta of 1.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. On average, research analysts expect that Amkor Technology will post 1.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new position in shares of Amkor Technology in the 3rd quarter valued at about $930,000. Valley Wealth Managers Inc. grew its holdings in Amkor Technology by 115.1% in the third quarter. Valley Wealth Managers Inc. now owns 730,701 shares of the semiconductor company’s stock valued at $22,359,000 after purchasing an additional 391,002 shares during the period. Geode Capital Management LLC increased its position in shares of Amkor Technology by 6.7% in the third quarter. Geode Capital Management LLC now owns 2,094,296 shares of the semiconductor company’s stock valued at $64,101,000 after buying an additional 131,106 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Amkor Technology by 212.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company’s stock worth $41,647,000 after buying an additional 925,644 shares during the period. Finally, General American Investors Co. Inc. purchased a new position in shares of Amkor Technology during the 3rd quarter valued at approximately $3,060,000. Hedge funds and other institutional investors own 42.76% of the company’s stock.

About Amkor Technology

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.