Amkor Technology (NASDAQ:AMKR) Stock Rating Lowered by Melius Research

Amkor Technology (NASDAQ:AMKR - Get Free Report) was downgraded by equities researchers at Melius Research from a "strong-buy" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. DA Davidson lowered their price objective on Amkor Technology from $40.00 to $36.00 and set a "buy" rating on the stock in a research report on Tuesday, October 29th. The Goldman Sachs Group lowered their price target on shares of Amkor Technology from $36.00 to $32.00 and set a "neutral" rating on the stock in a report on Tuesday, October 29th. KeyCorp reduced their price objective 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. StockNews.com cut shares of Amkor Technology from a "buy" rating to a "hold" rating in a research note on Tuesday, October 29th. Finally, Needham & Company LLC cut their price target on Amkor Technology from $45.00 to $34.00 and set a "buy" rating for the company in a research note on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $35.50.

Amkor Technology Stock Performance

Shares of AMKR stock traded down $0.17 on Monday, reaching $26.56. The stock had a trading volume of 860,519 shares, compared to its average volume of 1,153,705. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.84 and a current ratio of 2.06. Amkor Technology has a 1 year low of $24.10 and a 1 year high of $44.86. The stock has a market cap of $6.55 billion, a P/E ratio of 17.95 and a beta of 1.83. The company has a 50 day simple moving average of $26.28 and a 200 day simple moving average of $30.93.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last released 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). Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the firm earned $0.54 earnings per share. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts expect that Amkor Technology will post 1.42 EPS for the current year.

Insider Activity at Amkor Technology

In other Amkor Technology 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 value of $315,100.00. Following the completion of the transaction, the chief executive officer now directly owns 204,971 shares of the company's stock, valued at $6,458,636.21. This trade represents a 4.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 31.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new position in Amkor Technology during the third quarter valued at $39,000. Ashton Thomas Private Wealth LLC bought a new position in Amkor Technology during the 2nd quarter valued at about $40,000. Larson Financial Group LLC raised its position in Amkor Technology by 46.3% in the 3rd quarter. Larson Financial Group LLC now owns 1,834 shares of the semiconductor company's stock worth $56,000 after purchasing an additional 580 shares during the period. Ulland Investment Advisors LLC bought a new stake in Amkor Technology in the third quarter worth about $82,000. Finally, Quarry LP lifted its stake in Amkor Technology by 421.8% in the third quarter. Quarry LP now owns 3,136 shares of the semiconductor company's stock worth $96,000 after purchasing an additional 2,535 shares during the last quarter. 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.