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

Amkor Technology (NASDAQ:AMKR)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $34.00 price target on the semiconductor company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 55.68% from the company’s current price.

A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. DA Davidson lowered their price objective on Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. KeyCorp lowered their price objective on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Melius lowered Amkor Technology from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $34.00 to $30.00 in a research note on Monday, January 6th. Finally, StockNews.com downgraded Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Amkor Technology has an average rating of “Hold” and a consensus target price of $31.50.

Amkor Technology Stock Performance

Shares of NASDAQ:AMKR opened at $21.84 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84. The business’s 50 day moving average price is $25.53 and its 200-day moving average price is $28.15. The firm has a market capitalization of $5.39 billion, a PE ratio of 14.76 and a beta of 1.81. Amkor Technology has a 1 year low of $21.46 and a 1 year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share (EPS) 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%. As a group, equities research analysts expect that Amkor Technology will post 1.38 earnings per share for the current fiscal year.

Institutional Trading of Amkor Technology

A number of large investors have recently made changes to their positions in the company. Ritholtz Wealth Management boosted its position in shares of Amkor Technology by 1.7% in the 3rd quarter. Ritholtz Wealth Management now owns 21,717 shares of the semiconductor company’s stock valued at $665,000 after purchasing an additional 357 shares during the period. Highland Capital Management LLC raised its stake in Amkor Technology by 6.6% during the 4th quarter. Highland Capital Management LLC now owns 7,814 shares of the semiconductor company’s stock valued at $201,000 after acquiring an additional 482 shares during the last quarter. Larson Financial Group LLC raised its stake in Amkor Technology by 46.3% during the 3rd quarter. Larson Financial Group LLC now owns 1,834 shares of the semiconductor company’s stock valued at $56,000 after acquiring an additional 580 shares during the last quarter. Robotti Robert raised its stake in Amkor Technology by 0.3% during the 4th quarter. Robotti Robert now owns 215,837 shares of the semiconductor company’s stock valued at $5,545,000 after acquiring an additional 705 shares during the last quarter. Finally, New York State Teachers Retirement System raised its stake in Amkor Technology by 2.0% during the 4th quarter. New York State Teachers Retirement System now owns 39,718 shares of the semiconductor company’s stock valued at $1,020,000 after acquiring an additional 782 shares during the last quarter. 42.76% of the stock is owned by institutional investors and hedge funds.

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.