StockNews.com Lowers Amkor Technology (NASDAQ:AMKR) to Hold

StockNews.com lowered shares of Amkor Technology (NASDAQ:AMKR) from a buy rating to a hold rating in a research report released on Monday.

A number of other equities analysts also recently issued reports on the company. Morgan Stanley increased their target price on Amkor Technology from $34.00 to $38.00 and gave the stock an equal weight rating in a research note on Tuesday, July 2nd. KeyCorp started coverage on Amkor Technology in a report on Friday, September 20th. They issued an overweight rating and a $38.00 target price for the company. JPMorgan Chase & Co. initiated coverage on shares of 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 increased their price target on shares of Amkor Technology from $45.00 to $50.00 and gave the company a buy rating in a report on Thursday, June 20th. Finally, Needham & Company LLC increased their price target 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 equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Amkor Technology has a consensus rating of Moderate Buy and a consensus target price of $40.75.

Amkor Technology Price Performance

Amkor Technology stock opened at $30.22 on Monday. The business has a 50 day simple moving average of $30.85 and a 200-day simple moving average of $33.42. Amkor Technology has a 12 month low of $17.58 and a 12 month high of $44.86. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.08 and a quick ratio of 1.83. The stock has a market capitalization of $7.43 billion, a PE ratio of 19.88 and a beta of 1.84.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, July 29th. The semiconductor company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.04. Amkor Technology had a net margin of 5.87% and a return on equity of 9.41%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the firm earned $0.26 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts predict that Amkor Technology will post 1.53 earnings per share for the current year.

Amkor Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.079 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.32 annualized dividend and a yield of 1.05%. Amkor Technology’s dividend payout ratio (DPR) is currently 20.39%.

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 128,333 shares in the company, valued at approximately $5,510,619.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Amkor Technology news, Director Winston J. Churchill sold 20,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 19,871 shares of the company’s stock, valued at $655,146.87. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Guillaume Marie Jean Rutten sold 25,000 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was 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 directly owns 128,333 shares in the company, valued at approximately $5,510,619.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 31.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amkor Technology

A number of large investors have recently bought and sold shares of AMKR. Pineridge Advisors LLC purchased a new position in Amkor Technology during the fourth quarter worth approximately $28,000. 1620 Investment Advisors Inc. purchased a new position in Amkor Technology during the second quarter worth approximately $31,000. Ashton Thomas Private Wealth LLC purchased a new position in Amkor Technology during the second quarter worth approximately $40,000. Headlands Technologies LLC acquired a new stake in shares of Amkor Technology in the first quarter worth $43,000. Finally, Larson Financial Group LLC increased its position in shares of Amkor Technology by 911.3% in the second quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 1,130 shares in 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.