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

Melius Research cut shares of Amkor Technology (NASDAQ:AMKR) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

Several other analysts also recently issued reports on the stock. Melius downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating and reduced their price target for the company from $34.00 to $30.00 in a report on Monday. KeyCorp cut their target price on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Morgan Stanley decreased their price target on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. StockNews.com downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, 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 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 data from MarketBeat, Amkor Technology presently has an average rating of “Hold” and a consensus price target of $35.50.

Amkor Technology Price Performance

Shares of NASDAQ:AMKR opened at $26.02 on Monday. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 17.58 and a beta of 1.83. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84. The business’s 50 day simple moving average is $26.27 and its 200-day simple moving average is $30.89. Amkor Technology has a 12 month low of $24.10 and a 12 month high of $44.86.

Amkor Technology (NASDAQ:AMKR) last posted its 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). The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 earnings per share. As a group, equities analysts forecast that Amkor Technology will post 1.42 earnings per share for the current fiscal year.

Amkor Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, December 4th were given a dividend of $0.0827 per share. This is a positive change from Amkor Technology’s previous quarterly dividend of $0.08. The ex-dividend date was Wednesday, December 4th. This represents a $0.33 annualized dividend and a yield of 1.27%. Amkor Technology’s dividend payout ratio is 22.30%.

Insiders Place Their Bets

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company’s 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 directly owns 204,971 shares in the company, valued at $6,458,636.21. This represents a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 31.40% of the stock is currently owned by insiders.

Institutional Trading of Amkor Technology

A number of institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its position in Amkor Technology by 8.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,188 shares of the semiconductor company’s stock valued at $168,000 after buying an additional 333 shares during the last quarter. Ritholtz Wealth Management lifted its stake in shares of Amkor Technology by 1.7% in the third quarter. Ritholtz Wealth Management now owns 21,717 shares of the semiconductor company’s stock worth $665,000 after acquiring an additional 357 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Amkor Technology by 46.3% in the third quarter. Larson Financial Group LLC now owns 1,834 shares of the semiconductor company’s stock valued at $56,000 after purchasing an additional 580 shares during the last quarter. Arizona State Retirement System grew its stake in Amkor Technology by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 31,010 shares of the semiconductor company’s stock valued at $1,241,000 after purchasing an additional 616 shares in the last quarter. Finally, Highland Capital Management LLC increased its holdings in Amkor Technology by 10.9% during the 3rd quarter. Highland Capital Management LLC now owns 7,332 shares of the semiconductor company’s stock worth $224,000 after purchasing an additional 720 shares during the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Amkor Technology Company Profile

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.