Melius Research Downgrades Amkor Technology (NASDAQ:AMKR) to Hold

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

Other equities analysts also recently issued reports about the company. KeyCorp reduced their price target on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Needham & Company LLC lowered their price target on Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. The Goldman Sachs Group dropped their price target on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. Melius cut shares of Amkor Technology from a “buy” rating to a “hold” rating and lowered their target price for the stock from $34.00 to $30.00 in a research note on Monday. Finally, JPMorgan Chase & Co. cut their price target on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $35.50.

Amkor Technology Trading Up 0.8 %

AMKR opened at $26.73 on Monday. Amkor Technology has a 12 month low of $24.10 and a 12 month high of $44.86. The stock has a fifty day moving average price of $26.31 and a 200-day moving average price of $31.01. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 18.06 and a beta of 1.83. The company has a current ratio of 2.06, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21.

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

Insider Buying and Selling at Amkor Technology

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company’s 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 31.40% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

Several large investors have recently made changes to their positions in AMKR. Neo Ivy Capital Management purchased a new position in Amkor Technology in the third quarter valued at $930,000. Valley Wealth Managers Inc. increased its stake in shares of Amkor Technology by 115.1% in the 3rd 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 raised its holdings in Amkor Technology by 6.7% in the 3rd 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 period. Intech Investment Management LLC purchased a new position in Amkor Technology during the second quarter worth approximately $874,000. Finally, General American Investors Co. Inc. acquired a new stake in Amkor Technology in the third quarter valued at approximately $3,060,000. 42.76% of the stock is currently owned by institutional investors and hedge funds.

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.