Amkor Technology (NASDAQ:AMKR) Given Buy Rating at B. Riley

B. Riley reaffirmed their buy rating on shares of Amkor Technology (NASDAQ:AMKR) in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a $45.00 price objective on the semiconductor company’s stock, up from their previous price objective of $43.00. B. Riley also issued estimates for Amkor Technology’s Q2 2024 earnings at $0.22 EPS, Q3 2024 earnings at $0.62 EPS, Q4 2024 earnings at $0.68 EPS, FY2024 earnings at $1.75 EPS, Q1 2025 earnings at $0.31 EPS, Q2 2025 earnings at $0.41 EPS, Q3 2025 earnings at $0.97 EPS, Q4 2025 earnings at $0.87 EPS and FY2025 earnings at $2.56 EPS.

A number of other brokerages have also recently issued reports on AMKR. Needham & Company LLC restated a buy rating and set a $40.00 target price on shares of Amkor Technology in a report on Tuesday. The Goldman Sachs Group began coverage on Amkor Technology in a research report on Thursday, February 29th. They set a neutral rating and a $32.00 price target for the company. Finally, Fox Advisors assumed coverage on Amkor Technology in a research report on Thursday, March 14th. They set an equal weight rating on the stock. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $37.67.

Amkor Technology Stock Performance

NASDAQ AMKR opened at $32.34 on Tuesday. Amkor Technology has a 1-year low of $17.58 and a 1-year high of $37.00. The company has a 50 day moving average of $31.67 and a 200-day moving average of $29.82. The company has a current ratio of 2.34, a quick ratio of 2.02 and a debt-to-equity ratio of 0.26. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of 21.28 and a beta of 1.94.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.13. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Amkor Technology had a return on equity of 9.53% and a net margin of 5.84%. The business’s revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 earnings per share. On average, equities analysts forecast that Amkor Technology will post 1.78 earnings per share for the current fiscal year.

Amkor Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Tuesday, March 12th were paid a dividend of $0.079 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Monday, March 11th. Amkor Technology’s dividend payout ratio is presently 20.39%.

Insider Transactions at Amkor Technology

In other Amkor Technology news, EVP Mark N. Rogers sold 5,000 shares of Amkor Technology stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $31.30, for a total value of $156,500.00. Following the completion of the sale, the executive vice president now directly owns 25,280 shares in the company, valued at $791,264. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Amkor Technology news, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $30.34, for a total value of $81,918.00. Following the transaction, the chief financial officer now directly owns 38,811 shares of the company’s stock, valued at $1,177,525.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark N. Rogers sold 5,000 shares of Amkor Technology stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $31.30, for a total value of $156,500.00. Following the transaction, the executive vice president now owns 25,280 shares of the company’s stock, valued at approximately $791,264. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,500 shares of company stock valued at $2,651,220. Corporate insiders own 31.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Handelsbanken Fonder AB lifted its position in shares of Amkor Technology by 9.2% during the fourth quarter. Handelsbanken Fonder AB now owns 18,976 shares of the semiconductor company’s stock worth $631,000 after acquiring an additional 1,600 shares in the last quarter. Readystate Asset Management LP bought a new position in shares of Amkor Technology in the fourth quarter valued at approximately $4,694,000. Trexquant Investment LP purchased a new position in Amkor Technology during the third quarter valued at approximately $1,142,000. Invesco Ltd. increased its holdings in Amkor Technology by 12.3% during the 3rd quarter. Invesco Ltd. now owns 1,318,158 shares of the semiconductor company’s stock worth $29,790,000 after acquiring an additional 144,280 shares during the period. Finally, SummerHaven Investment Management LLC lifted its stake in Amkor Technology by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 24,548 shares of the semiconductor company’s stock worth $817,000 after purchasing an additional 327 shares in the last quarter. 42.76% of the stock is owned by institutional investors.

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.