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

by · The Markets Daily

StockNews.com downgraded shares of Amkor Technology (NASDAQ:AMKR – Free Report) from a buy rating to a hold rating in a research report report published on Monday morning.

A number of other research firms have also recently weighed in on AMKR. KeyCorp initiated coverage on shares of Amkor Technology in a research note on Friday, September 20th. They set an overweight rating and a $38.00 target price on the stock. Morgan Stanley upped their target price on Amkor Technology from $34.00 to $38.00 and gave the stock an equal weight rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. began coverage on Amkor Technology in a research note on Monday, July 1st. They set an overweight rating and a $48.00 price target on the stock. B. Riley boosted their price target on Amkor Technology from $45.00 to $50.00 and gave the stock a buy rating in a report on Thursday, June 20th. Finally, Needham & Company LLC raised their price objective on shares of Amkor Technology from $40.00 to $45.00 and gave the company a buy rating in a report on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $40.75.

Check Out Our Latest Stock Analysis on AMKR

Amkor Technology Price Performance

Shares of AMKR stock opened at $30.51 on Monday. The business has a fifty day simple moving average of $30.85 and a 200 day simple moving average of $33.44. The company has a market cap of $7.50 billion, a P/E ratio of 20.07 and a beta of 1.84. 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 has a twelve month low of $17.58 and a twelve month high of $44.86.

Amkor Technology (NASDAQ:AMKR – Get Free Report) last posted its earnings results on Monday, July 29th. The semiconductor company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 earnings per share. On average, sell-side analysts forecast that Amkor Technology will post 1.53 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. Investors of record on Tuesday, September 3rd were paid a $0.079 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Tuesday, September 3rd. Amkor Technology’s dividend payout ratio is currently 20.39%.

Insiders Place Their Bets

In other news, Director Winston J. Churchill sold 20,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the completion of the sale, the director now directly owns 19,871 shares in the company, valued at $655,146.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $42.94, for a total transaction of $1,073,500.00. Following the transaction, the chief executive officer now owns 128,333 shares in the company, valued at approximately $5,510,619.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Winston J. Churchill sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total value of $659,400.00. Following the transaction, the director now directly 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 disclosure for this sale can be found here. Company insiders own 31.40% of the company’s stock.

Institutional Trading of Amkor Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Pineridge Advisors LLC purchased a new position in shares of Amkor Technology during the fourth quarter valued at approximately $28,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Amkor Technology in the second quarter valued at about $31,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Amkor Technology in the second quarter valued at about $40,000. Headlands Technologies LLC bought a new position in shares of Amkor Technology during the first quarter valued at about $43,000. Finally, Larson Financial Group LLC boosted its holdings in Amkor Technology by 911.3% during the second quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 1,130 shares during the last quarter. Institutional investors own 42.76% of the company’s stock.

About Amkor Technology

(Get Free Report)

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.

Further Reading