Amkor Technology (NASDAQ:AMKR) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Amkor Technology (NASDAQ:AMKR) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

Other research analysts have also recently issued research reports about the company. Needham & Company LLC dropped their price target on Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday. Morgan Stanley dropped their target price on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a report on Tuesday. KeyCorp decreased 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. Finally, The Goldman Sachs Group reduced their target price on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Amkor Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.63.

Amkor Technology Stock Down 4.8 %

Shares of NASDAQ AMKR opened at $25.45 on Tuesday. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 17.20 and a beta of 1.84. Amkor Technology has a 52 week low of $17.58 and a 52 week high of $44.86. The firm has a 50-day moving average price of $30.49 and a 200 day moving average price of $33.22. The company has a quick ratio of 1.83, a current ratio of 2.08 and a debt-to-equity ratio of 0.23.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. Amkor Technology’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 earnings per share. Equities research analysts anticipate that Amkor Technology will post 1.55 EPS for the current fiscal year.

Amkor Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.079 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.32 annualized dividend and a dividend yield of 1.24%. Amkor Technology’s payout ratio is currently 20.95%.

Insider Activity at Amkor Technology

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of Amkor Technology stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total value of $315,100.00. Following the transaction, the chief executive officer now owns 204,971 shares in the company, valued at $6,458,636.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Winston J. Churchill sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total value of $659,400.00. Following the transaction, the director now owns 19,871 shares in the company, valued at approximately $655,146.87. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total transaction of $315,100.00. Following the sale, the chief executive officer now owns 204,971 shares of the company’s stock, valued at approximately $6,458,636.21. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 31.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Amkor Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC raised its position in Amkor Technology by 1.3% in the second quarter. SG Americas Securities LLC now owns 23,694 shares of the semiconductor company’s stock valued at $948,000 after purchasing an additional 296 shares during the period. CWM LLC boosted its position in shares of Amkor Technology by 15.1% in the second quarter. CWM LLC now owns 2,359 shares of the semiconductor company’s stock worth $94,000 after buying an additional 309 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Amkor Technology by 8.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,188 shares of the semiconductor company’s stock valued at $168,000 after buying an additional 333 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of Amkor Technology by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 129,621 shares of the semiconductor company’s stock valued at $4,179,000 after buying an additional 344 shares during the period. Finally, Ritholtz Wealth Management lifted its position in Amkor Technology by 1.7% during the 3rd quarter. Ritholtz Wealth Management now owns 21,717 shares of the semiconductor company’s stock worth $665,000 after acquiring an additional 357 shares in the last quarter. Institutional investors and hedge funds own 42.76% of the company’s stock.

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.