Amkor Technology (NASDAQ:AMKR) Stock Rating Lowered by Melius

Amkor Technology (NASDAQ:AMKR) was downgraded by investment analysts at Melius from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. They currently have a $30.00 target price on the semiconductor company’s stock, down from their previous target price of $34.00. Melius’ target price would indicate a potential upside of 12.95% from the company’s previous close.

A number of other equities analysts have also recently commented on AMKR. DA Davidson dropped their target price on Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. The Goldman Sachs Group reduced their target price on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. StockNews.com cut shares of Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Needham & Company LLC reduced their price objective on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Finally, KeyCorp dropped their target price on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Amkor Technology currently has a consensus rating of “Hold” and a consensus price target of $35.50.

Amkor Technology Price Performance

Amkor Technology stock opened at $26.56 on Monday. Amkor Technology has a 52-week low of $24.10 and a 52-week high of $44.86. The company has a quick ratio of 1.84, a current ratio of 2.06 and a debt-to-equity ratio of 0.21. The firm’s fifty day moving average is $26.28 and its 200 day moving average is $30.93. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 17.95 and a beta of 1.83.

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

Insiders Place Their Bets

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total transaction of $315,100.00. Following the transaction, the chief executive officer now owns 204,971 shares of the company’s stock, valued at approximately $6,458,636.21. This trade represents a 4.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 31.40% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

Institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. lifted its holdings in Amkor Technology by 24,383.3% during the third quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock worth $115,899,000 after buying an additional 3,772,095 shares during the period. State Street Corp lifted its stake in shares of Amkor Technology by 5.6% during the 3rd quarter. State Street Corp now owns 3,355,817 shares of the semiconductor company’s stock worth $102,688,000 after purchasing an additional 176,528 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of Amkor Technology by 3.2% during the 2nd quarter. Earnest Partners LLC now owns 2,423,255 shares of the semiconductor company’s stock worth $96,979,000 after purchasing an additional 75,364 shares during the last quarter. Geode Capital Management LLC boosted its position in Amkor Technology by 6.7% during the third quarter. Geode Capital Management LLC now owns 2,094,296 shares of the semiconductor company’s stock valued at $64,101,000 after purchasing an additional 131,106 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Amkor Technology by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,878,912 shares of the semiconductor company’s stock valued at $57,495,000 after purchasing an additional 88,226 shares during 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.