Amkor Technology (NASDAQ:AMKR) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Amkor Technology (NASDAQ:AMKR – Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group set a $56.00 price objective on Amkor Technology in a research report on Tuesday. Needham & Company LLC reduced their target price on Amkor Technology from $90.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, October 27th. B. Riley Financial decreased their price objective on shares of Amkor Technology from $46.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, October 27th. Bank of America started coverage on Amkor Technology in a research report on Thursday, August 27th. They issued a “buy” rating and a $70.00 target price for the company. Finally, Zacks Research lowered shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Amkor Technology currently has a consensus rating of “Hold” and an average price target of $62.50.

View Our Latest Research Report on AMKR

Amkor Technology Stock Performance

NASDAQ AMKR opened at $39.50 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.17 and a quick ratio of 1.91. The company has a market capitalization of $9.79 billion, a P/E ratio of 15.93, a PEG ratio of 0.49 and a beta of 2.21. Amkor Technology has a 1-year low of $29.76 and a 1-year high of $96.68. The business has a 50 day moving average price of $47.97 and a 200 day moving average price of $57.07.

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

Amkor Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Wednesday, September 2nd were paid a $0.0835 dividend. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, September 2nd. Amkor Technology’s payout ratio is currently 13.31%.

Insider Buying and Selling at Amkor Technology

In other news, Director Douglas A. Alexander sold 5,000 shares of the firm’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the sale, the director directly owned 29,109 shares of the company’s stock, valued at $1,600,995. This trade represents a 14.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Megan Faust sold 1,000 shares of the stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $46.92, for a total value of $46,920.00. Following the completion of the transaction, the chief financial officer owned 133,105 shares of the company’s stock, valued at $6,245,286.60. This trade represents a 0.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 43,000 shares of company stock valued at $2,387,120 over the last 90 days. Insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd grew its stake in shares of Amkor Technology by 204.0% in the 3rd quarter. Covestor Ltd now owns 6,766 shares of the semiconductor company’s stock valued at $354,000 after buying an additional 4,540 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Amkor Technology by 8.9% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 25,694 shares of the semiconductor company’s stock valued at $1,346,000 after buying an additional 2,100 shares during the last quarter. BOCHK Asset Management Ltd grew its position in shares of Amkor Technology by 62.6% in the third quarter. BOCHK Asset Management Ltd now owns 67,690 shares of the semiconductor company’s stock valued at $3,546,000 after purchasing an additional 26,070 shares during the last quarter. Greenleaf Trust grew its holdings in Amkor Technology by 6.8% in the 3rd quarter. Greenleaf Trust now owns 4,341 shares of the semiconductor company’s stock valued at $227,000 after buying an additional 278 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Amkor Technology during the third quarter worth $3,262,000. Institutional investors and hedge funds 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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Analyst Recommendations for Amkor Technology (NASDAQ:AMKR)

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