Amkor Technology (NASDAQ:AMKR) Rating Lowered to Hold at Wall Street Zen

by · The Cerbat Gem

Amkor Technology (NASDAQ:AMKR – Get Free Report) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

A number of other equities research analysts also recently issued reports on the stock. Zacks Research downgraded shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Weiss Ratings downgraded shares of Amkor Technology from a “hold (c+)” rating to a “sell (d+)” rating in a report on Wednesday. Bank of America assumed coverage on Amkor Technology in a research report on Thursday, August 27th. They set a “buy” rating and a $70.00 target price on the stock. The Goldman Sachs Group set a $56.00 target price on shares of Amkor Technology in a research report on Tuesday, October 27th. Finally, Morgan Stanley dropped their price target on Amkor Technology from $70.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 27th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Amkor Technology currently has a consensus rating of “Hold” and a consensus price target of $62.50.

Get Our Latest Stock Report on Amkor Technology

Amkor Technology Price Performance

Shares of Amkor Technology stock opened at $39.50 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.89 and a current ratio of 2.17. The stock has a 50 day moving average price of $47.97 and a 200-day moving average price of $57.07. Amkor Technology has a one year low of $29.76 and a one year high of $96.68. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 0.49 and a beta of 2.39.

Amkor Technology (NASDAQ:AMKR – Get Free Report) last announced its earnings results on Monday, October 26th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.02). The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.04 billion. Amkor Technology had a net margin of 8.30% and a return on equity of 13.32%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $0.51 earnings per share. Equities analysts expect that Amkor Technology will post 2.50 EPS for the current year.

Insider Activity

In related news, EVP Mark Rogers sold 5,000 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $59.78, for a total transaction of $298,900.00. Following the sale, the executive vice president owned 38,904 shares in the company, valued at $2,325,681.12. This represents a 11.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Giel Rutten sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $55.35, for a total transaction of $1,383,750.00. Following the transaction, the director owned 486,732 shares in the company, valued at $26,940,616.20. This represents a 4.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 43,000 shares of company stock valued at $2,387,120. Company insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bessemer Group Inc. raised its stake in shares of Amkor Technology by 12.5% during the first quarter. Bessemer Group Inc. now owns 1,216 shares of the semiconductor company’s stock worth $55,000 after acquiring an additional 135 shares in the last quarter. Arista Wealth Management LLC increased its holdings in Amkor Technology by 1.2% during the 2nd quarter. Arista Wealth Management LLC now owns 13,642 shares of the semiconductor company’s stock valued at $1,176,000 after purchasing an additional 157 shares during the period. CoreCap Advisors LLC grew its position in shares of Amkor Technology by 56.4% in the 2nd quarter. CoreCap Advisors LLC now owns 438 shares of the semiconductor company’s stock worth $38,000 after buying an additional 158 shares during the last quarter. Strs Ohio increased its stake in shares of Amkor Technology by 8.6% during the first quarter. Strs Ohio now owns 2,971 shares of the semiconductor company’s stock valued at $134,000 after buying an additional 235 shares during the period. Finally, Arizona State Retirement System increased its position in Amkor Technology by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 34,189 shares of the semiconductor company’s stock valued at $2,948,000 after purchasing an additional 240 shares during the period. Hedge funds and other institutional investors own 42.76% of the company’s stock.

About Amkor Technology

(Get Free Report)

Amkor Technology, Inc is a provider of outsourced semiconductor packaging and test services. The company helps semiconductor manufacturers and electronics companies assemble, package and test integrated circuits before they are incorporated into finished electronic products.

Amkor’s services include wafer bumping, wafer-level packaging, flip-chip packaging, system-in-package solutions, fan-out packaging, leadframe and laminate-based packaging, and semiconductor testing. Its products and services support applications including mobile and consumer electronics, communications, automotive, computing, industrial equipment, and memory devices.

Founded in 1968, Amkor has grown into a global semiconductor supply-chain partner with manufacturing and testing operations across regions including Asia, Europe and the United States.

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