Amkor Technology (NASDAQ:AMKR) Rating Lowered to Hold at Melius Research

Amkor Technology (NASDAQ:AMKR) was downgraded by stock analysts at Melius Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities analysts have also weighed in on AMKR. StockNews.com lowered shares of Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Melius cut Amkor Technology from a “buy” rating to a “hold” rating and lowered their target price for the stock from $34.00 to $30.00 in a report on Monday. Needham & Company LLC cut their price target on Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. The Goldman Sachs Group dropped their target price on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. reduced their price target on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a 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, Amkor Technology currently has an average rating of “Hold” and a consensus price target of $35.50.

Amkor Technology Trading Up 0.8 %

AMKR stock opened at $26.73 on Monday. The business’s 50-day moving average is $26.31 and its 200 day moving average is $31.01. Amkor Technology has a 12-month low of $24.10 and a 12-month high of $44.86. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of 18.06 and a beta of 1.83. The company has a current ratio of 2.06, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.01). The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 earnings per share. On average, sell-side analysts anticipate that Amkor Technology will post 1.42 EPS for the current fiscal year.

Insider Buying and Selling at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total transaction of $315,100.00. Following the completion of the transaction, the chief executive officer now owns 204,971 shares of the company’s stock, valued at approximately $6,458,636.21. This trade represents a 4.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 31.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Natixis Advisors LLC purchased a new position in Amkor Technology during the 2nd quarter valued at about $734,000. Arizona State Retirement System boosted its stake in shares of Amkor Technology by 2.0% in the second quarter. Arizona State Retirement System now owns 31,010 shares of the semiconductor company’s stock valued at $1,241,000 after purchasing an additional 616 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Amkor Technology in the second quarter valued at approximately $3,799,000. Acadian Asset Management LLC increased its stake in Amkor Technology by 4,891.3% during the 2nd quarter. Acadian Asset Management LLC now owns 113,751 shares of the semiconductor company’s stock worth $4,548,000 after buying an additional 111,472 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Amkor Technology during the 2nd quarter worth approximately $40,000. 42.76% of the stock is currently owned by institutional investors and hedge funds.

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.