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

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

Several other research analysts have also recently weighed in on AMKR. DA Davidson lowered their price objective on Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Needham & Company LLC lowered their price target on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. JPMorgan Chase & Co. dropped their price objective 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. Melius lowered shares of Amkor Technology from a “buy” rating to a “hold” rating and decreased their target price for the stock from $34.00 to $30.00 in a research report on Monday. Finally, KeyCorp dropped their price target on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $35.50.

Amkor Technology Trading Down 0.6 %

Amkor Technology stock opened at $26.56 on Monday. The stock has a 50-day simple moving average of $26.28 and a 200 day simple moving average of $30.93. The stock has a market capitalization of $6.55 billion, a P/E ratio of 17.95 and a beta of 1.83. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.84 and a current ratio of 2.06. Amkor Technology has a 52 week low of $24.10 and a 52 week high of $44.86.

Amkor Technology (NASDAQ:AMKR) last posted its 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 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 quarter in the prior year, the business posted $0.54 EPS. Analysts expect that Amkor Technology will post 1.42 earnings per share for the current year.

Insider Activity

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 approximately $6,458,636.21. This represents a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 31.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amkor Technology

A number of hedge funds have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management bought a new position in Amkor Technology during the 3rd quarter valued at $930,000. Valley Wealth Managers Inc. lifted its position in shares of Amkor Technology by 115.1% during the third quarter. Valley Wealth Managers Inc. now owns 730,701 shares of the semiconductor company’s stock valued at $22,359,000 after purchasing an additional 391,002 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Amkor Technology by 6.7% during the third quarter. Geode Capital Management LLC now owns 2,094,296 shares of the semiconductor company’s stock worth $64,101,000 after purchasing an additional 131,106 shares during the last quarter. Intech Investment Management LLC bought a new stake in Amkor Technology in the 2nd quarter worth about $874,000. Finally, General American Investors Co. Inc. purchased a new stake in Amkor Technology in the 3rd quarter valued at about $3,060,000. Institutional investors and hedge funds 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.