Amkor Technology (NASDAQ:AMKR) Lowered to “Hold” Rating by Melius Research

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

Other equities research analysts have also issued research reports about the company. Needham & Company LLC decreased their price objective on Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. JPMorgan Chase & Co. reduced their target price on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. KeyCorp dropped their price target 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. DA Davidson reduced their price objective on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Finally, StockNews.com cut shares of Amkor Technology from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $35.50.

Amkor Technology Price Performance

AMKR opened at $26.56 on Monday. Amkor Technology has a fifty-two week low of $24.10 and a fifty-two week high of $44.86. The firm has a 50-day moving average of $26.28 and a 200 day moving average of $30.93. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.84 and a current ratio of 2.06. The firm has a market cap of $6.55 billion, a P/E ratio of 17.95 and a beta of 1.83.

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

Insider Activity at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 204,971 shares of the company’s stock, valued at $6,458,636.21. This trade represents a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 31.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amkor Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of AMKR. Pacer Advisors Inc. lifted its position in Amkor Technology by 24,383.3% in the 3rd quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock worth $115,899,000 after buying an additional 3,772,095 shares during the last quarter. State Street Corp raised its stake in shares of Amkor Technology by 5.6% during the third quarter. State Street Corp now owns 3,355,817 shares of the semiconductor company’s stock worth $102,688,000 after acquiring an additional 176,528 shares in the last quarter. Earnest Partners LLC lifted its holdings in shares of Amkor Technology by 3.2% in the 2nd quarter. Earnest Partners LLC now owns 2,423,255 shares of the semiconductor company’s stock worth $96,979,000 after acquiring an additional 75,364 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Amkor Technology by 6.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,094,296 shares of the semiconductor company’s stock valued at $64,101,000 after purchasing an additional 131,106 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Amkor Technology by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,878,912 shares of the semiconductor company’s stock valued at $57,495,000 after purchasing an additional 88,226 shares during the last quarter. Hedge funds and other 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.