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

Amkor Technology (NASDAQ:AMKR - Get Free Report)'s stock had its "buy" rating restated by research analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $34.00 target price on the semiconductor company's stock. Needham & Company LLC's price objective points to a potential upside of 51.09% from the stock's previous close.

A number of other research firms have also recently weighed in on AMKR. Morgan Stanley lowered their price target on shares of Amkor Technology from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of Amkor Technology from $48.00 to $42.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 29th. Melius Research cut shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 6th. Melius cut shares of Amkor Technology from a "buy" rating to a "hold" rating and lowered their price target for the stock from $34.00 to $30.00 in a research note on Monday, January 6th. Finally, KeyCorp lowered their price objective on shares of Amkor Technology from $38.00 to $34.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Amkor Technology has a consensus rating of "Hold" and an average price target of $31.50.

Amkor Technology Stock Performance

Amkor Technology stock traded up $0.31 during trading hours on Tuesday, reaching $22.50. 1,283,922 shares of the stock were exchanged, compared to its average volume of 1,601,884. The stock has a market cap of $5.55 billion, a P/E ratio of 15.17 and a beta of 1.81. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.84 and a current ratio of 2.06. Amkor Technology has a 52-week low of $21.46 and a 52-week high of $44.86. The firm's 50 day moving average is $25.45 and its 200 day moving average is $28.11.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last posted 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 net margin of 5.68% and a return on equity of 8.98%. Analysts predict that Amkor Technology will post 1.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Amkor Technology

Several hedge funds have recently modified their holdings of the company. Voya Investment Management LLC boosted its stake in shares of Amkor Technology by 469.0% during the 4th quarter. Voya Investment Management LLC now owns 83,455 shares of the semiconductor company's stock worth $2,144,000 after purchasing an additional 68,788 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Amkor Technology by 112.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,578 shares of the semiconductor company's stock worth $400,000 after purchasing an additional 8,247 shares during the last quarter. Transce3nd LLC acquired a new stake in shares of Amkor Technology during the 4th quarter worth about $383,000. MetLife Investment Management LLC boosted its stake in shares of Amkor Technology by 9.2% during the 4th quarter. MetLife Investment Management LLC now owns 63,939 shares of the semiconductor company's stock worth $1,643,000 after purchasing an additional 5,372 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Amkor Technology by 7.9% during the 4th quarter. First Trust Advisors LP now owns 4,778,790 shares of the semiconductor company's stock worth $122,767,000 after purchasing an additional 350,809 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.