Amkor Technology (NASDAQ:AMKR) Downgraded by ValuEngine to Hold

ValuEngine downgraded shares of Amkor Technology (NASDAQ:AMKR) from a buy rating to a hold rating in a report published on Wednesday, ValuEngine reports.

Separately, BidaskClub upgraded shares of Amkor Technology from a hold rating to a buy rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a strong buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $7.75.

AMKR stock traded up $0.35 during midday trading on Wednesday, hitting $9.88. The company’s stock had a trading volume of 1,196,580 shares, compared to its average volume of 914,739. The company has a quick ratio of 1.25, a current ratio of 1.46 and a debt-to-equity ratio of 0.65. Amkor Technology has a 52-week low of $5.72 and a 52-week high of $9.99. The firm has a market capitalization of $2.37 billion, a P/E ratio of 18.64 and a beta of 1.90. The firm has a 50-day simple moving average of $8.98 and a 200-day simple moving average of $8.24.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results on Monday, July 29th. The semiconductor company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.03. Amkor Technology had a net margin of 1.31% and a return on equity of 3.68%. The company had revenue of $895.31 million during the quarter, compared to analysts’ expectations of $896.05 million. During the same quarter last year, the company posted $0.14 EPS. The firm’s revenue was down 16.0% compared to the same quarter last year. On average, sell-side analysts expect that Amkor Technology will post 0.15 earnings per share for the current fiscal year.

In other news, Director Gil C. Tily sold 12,500 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $9.09, for a total value of $113,625.00. Following the sale, the director now directly owns 87,325 shares in the company, valued at approximately $793,784.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 59.60% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in AMKR. Renaissance Technologies LLC raised its holdings in shares of Amkor Technology by 87.0% in the 2nd quarter. Renaissance Technologies LLC now owns 2,380,300 shares of the semiconductor company’s stock valued at $17,757,000 after purchasing an additional 1,107,105 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Amkor Technology by 6.0% in the 2nd quarter. BlackRock Inc. now owns 11,772,385 shares of the semiconductor company’s stock valued at $87,822,000 after purchasing an additional 661,741 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Amkor Technology in the 2nd quarter valued at $4,744,000. Vanguard Group Inc. raised its holdings in shares of Amkor Technology by 4.7% in the 2nd quarter. Vanguard Group Inc. now owns 9,568,117 shares of the semiconductor company’s stock valued at $71,379,000 after purchasing an additional 425,860 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Amkor Technology by 17.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,600,573 shares of the semiconductor company’s stock valued at $19,192,000 after purchasing an additional 394,672 shares in the last quarter. Institutional investors and hedge funds own 37.67% of the company’s stock.

Amkor Technology Company Profile

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States and internationally. The company offers turnkey packaging and test services, including semiconductor wafer bumps, wafer probes, wafer back-grinds, package design, packaging, and test and drop shipment services.

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