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 report released on Monday,Finviz reports. They presently 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 suggest a potential upside of 13.08% from the stock’s current price.

AMKR has been the topic of a number of other reports. DA Davidson decreased their price target on Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. The Goldman Sachs Group lowered their price target on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. KeyCorp cut their price objective 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. StockNews.com downgraded Amkor Technology from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. 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 report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Amkor Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

Amkor Technology Stock Performance

AMKR stock opened at $26.53 on Monday. The firm has a market cap of $6.54 billion, a PE ratio of 17.93 and a beta of 1.83. Amkor Technology has a 12-month low of $24.10 and a 12-month 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 business has a 50 day moving average of $26.37 and a 200-day moving average of $31.10.

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). The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 earnings per share. As a group, sell-side analysts expect that Amkor Technology will post 1.42 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total transaction 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 trade represents a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 31.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AMKR. Neo Ivy Capital Management purchased a new position in shares of Amkor Technology in the third quarter worth about $930,000. Valley Wealth Managers Inc. lifted its stake in Amkor Technology by 115.1% in the 3rd quarter. Valley Wealth Managers Inc. now owns 730,701 shares of the semiconductor company’s stock worth $22,359,000 after purchasing an additional 391,002 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Amkor Technology by 6.7% during 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 last quarter. Intech Investment Management LLC purchased a new stake in shares of Amkor Technology in the second quarter valued at approximately $874,000. Finally, General American Investors Co. Inc. acquired a new stake in shares of Amkor Technology in the third quarter valued at approximately $3,060,000. Institutional investors and hedge funds own 42.76% of the company’s stock.

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.