Amkor Technology (NASDAQ:AMKR) Stock Rating Lowered by Melius

Amkor Technology (NASDAQ:AMKR) was downgraded by equities research analysts at Melius from a “buy” rating to a “hold” rating in a research note issued to investors on Monday,Finviz reports. They currently have a $30.00 target price on the semiconductor company’s stock, down from their previous target price of $34.00. Melius’ target price suggests a potential upside of 13.08% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. DA Davidson lowered their price target on Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. StockNews.com downgraded Amkor Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Morgan Stanley cut their price target on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group lowered their price objective on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.50.

Amkor Technology Trading Up 2.0 %

NASDAQ AMKR opened at $26.53 on Monday. Amkor Technology has a 12 month low of $24.10 and a 12 month high of $44.86. The stock has a market capitalization of $6.54 billion, a P/E ratio of 17.93 and a beta of 1.83. The firm’s 50-day moving average is $26.37 and its two-hundred day moving average is $31.10. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.49 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 return on equity of 8.98% and a net margin of 5.68%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 earnings per share. On average, sell-side analysts anticipate that Amkor Technology will post 1.42 earnings per share for the current year.

Insider Transactions at Amkor Technology

In related 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 completion of the sale, the chief executive officer now owns 204,971 shares in the company, valued at approximately $6,458,636.21. The trade was a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 31.40% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

Several large investors have recently modified their holdings of AMKR. Pacer Advisors Inc. raised its position in shares of Amkor Technology by 24,383.3% during the 3rd quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock valued at $115,899,000 after acquiring an additional 3,772,095 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in Amkor Technology during the 2nd quarter valued at approximately $58,379,000. Ceredex Value Advisors LLC bought a new position in Amkor Technology during the 3rd quarter worth $42,610,000. Millennium Management LLC increased its position in Amkor Technology by 359.7% in the second quarter. Millennium Management LLC now owns 1,360,292 shares of the semiconductor company’s stock worth $54,439,000 after buying an additional 1,064,404 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Amkor Technology by 522.0% in the third quarter. Wellington Management Group LLP now owns 1,134,106 shares of the semiconductor company’s stock valued at $34,704,000 after buying an additional 951,764 shares during the last quarter. Institutional investors own 42.76% of the company’s stock.

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.