Amkor Technology (NASDAQ:AMKR) Lowered to Hold Rating by Melius

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

Several other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Morgan Stanley lowered their target price on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Needham & Company LLC cut their price target 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. KeyCorp decreased their price objective on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Finally, DA Davidson cut their target price on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Amkor Technology currently has an average rating of “Moderate Buy” and a consensus price target of $35.50.

Amkor Technology Stock Performance

AMKR opened at $26.73 on Monday. The stock’s 50 day simple moving average is $26.31 and its 200-day simple moving average is $31.01. The company has a current ratio of 2.06, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21. The stock has a market cap of $6.59 billion, a PE ratio of 18.06 and a beta of 1.83. Amkor Technology has a 1 year low of $24.10 and a 1 year high of $44.86.

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

Amkor Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, December 4th were given a $0.0827 dividend. This represents a $0.33 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Wednesday, December 4th. This is a boost from Amkor Technology’s previous quarterly dividend of $0.08. Amkor Technology’s payout ratio is 22.30%.

Insider Activity at Amkor Technology

In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 204,971 shares in the company, valued at $6,458,636.21. This trade represents a 4.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 31.40% of the stock is owned by company insiders.

Institutional Trading of Amkor Technology

Hedge funds have recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Amkor Technology in the 3rd quarter valued at approximately $39,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Amkor Technology during the 2nd quarter worth approximately $40,000. Larson Financial Group LLC grew its position in shares of Amkor Technology by 911.3% in the 2nd 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 period. Ulland Investment Advisors LLC bought a new stake in Amkor Technology in the third quarter valued at approximately $82,000. Finally, Quarry LP increased its holdings in shares of Amkor Technology by 421.8% in the third quarter. Quarry LP now owns 3,136 shares of the semiconductor company’s stock valued at $96,000 after purchasing an additional 2,535 shares during the last quarter. 42.76% of the stock is currently owned by institutional investors and hedge funds.

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.