Amkor Technology (NASDAQ:AMKR) Cut to Hold at Melius

Melius lowered shares of Amkor Technology (NASDAQ:AMKR) from a buy rating to a hold rating in a report published on Monday, Marketbeat.com reports. The firm currently has $30.00 price target on the semiconductor company’s stock, down from their previous price target of $34.00.

AMKR has been the subject of several other research reports. JPMorgan Chase & Co. cut their price target on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Morgan Stanley cut their target price on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. DA Davidson lowered their price target on shares of 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 cut their price objective on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Finally, StockNews.com lowered shares of Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $35.50.

Amkor Technology Stock Performance

Shares of AMKR stock opened at $26.02 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.84 and a current ratio of 2.06. The firm has a market cap of $6.42 billion, a price-to-earnings ratio of 17.58 and a beta of 1.83. Amkor Technology has a 52 week low of $24.10 and a 52 week high of $44.86. The firm’s 50-day simple moving average is $26.27 and its two-hundred day simple moving average is $30.89.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the firm posted $0.54 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities analysts forecast that Amkor Technology will post 1.42 earnings per share for the current year.

Amkor Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, December 4th were issued a $0.0827 dividend. This represents a $0.33 annualized dividend and a yield of 1.27%. This is an increase from Amkor Technology’s previous quarterly dividend of $0.08. The ex-dividend date was Wednesday, December 4th. Amkor Technology’s dividend payout ratio (DPR) is presently 22.30%.

Insider Transactions at Amkor Technology

In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of Amkor Technology stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total transaction of $315,100.00. Following the completion of the sale, the chief executive officer now owns 204,971 shares in the company, valued at approximately $6,458,636.21. This trade represents a 4.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 31.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

A number of institutional investors and hedge funds have recently bought and sold shares of AMKR. Ashton Thomas Private Wealth LLC bought a new position in shares of Amkor Technology in the 2nd quarter worth $40,000. Larson Financial Group LLC increased its stake in Amkor Technology by 911.3% in the second quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 1,130 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Amkor Technology during the third quarter valued at about $39,000. Ulland Investment Advisors LLC bought a new stake in Amkor Technology during the third quarter worth about $82,000. Finally, Quarry LP boosted its holdings in shares of Amkor Technology by 421.8% in the 3rd quarter. Quarry LP now owns 3,136 shares of the semiconductor company’s stock worth $96,000 after purchasing an additional 2,535 shares in the last quarter. 42.76% of the stock is owned by hedge funds and other institutional investors.

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.