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 on Monday, Marketbeat Ratings reports. They currently have a $30.00 price target on the semiconductor company’s stock, down from their prior price target of $34.00. Melius’ price objective points to a potential upside of 12.95% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. Morgan Stanley dropped 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 dropped their price target on Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. KeyCorp reduced their price objective 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. The Goldman Sachs Group dropped their target price on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. Finally, DA Davidson reduced their price target on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a research report 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.50.

Amkor Technology Stock Performance

AMKR stock opened at $26.56 on Monday. The stock’s 50 day simple moving average is $26.28 and its 200 day simple moving average is $30.93. The company has a current ratio of 2.06, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21. Amkor Technology has a 12-month low of $24.10 and a 12-month high of $44.86. The stock has a market capitalization of $6.55 billion, a PE ratio of 17.95 and a beta of 1.83.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings results 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 business had revenue of $1.86 billion for 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 for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 earnings per share. As a group, research analysts forecast that Amkor Technology will post 1.42 earnings per share for the current fiscal year.

Insider Transactions at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of Amkor Technology 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 transaction, the chief executive officer now owns 204,971 shares in the company, valued at approximately $6,458,636.21. The trade was a 4.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 31.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. Natixis Advisors LLC purchased a new stake in shares of Amkor Technology during the second quarter worth about $734,000. CIBC Asset Management Inc bought a new stake in shares of Amkor Technology during the second quarter valued at approximately $276,000. Larson Financial Group LLC lifted its holdings in shares of Amkor Technology by 911.3% in the second quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock worth $50,000 after buying an additional 1,130 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Amkor Technology by 2.0% during the second quarter. Arizona State Retirement System now owns 31,010 shares of the semiconductor company’s stock worth $1,241,000 after acquiring an additional 616 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in Amkor Technology during the second quarter valued at $3,799,000. 42.76% of the stock is owned by 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.