StockNews.com Downgrades Amkor Technology (NASDAQ:AMKR) to Hold

Amkor Technology (NASDAQ:AMKR - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Tuesday.

AMKR has been the topic of several other reports. 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 report on Tuesday. Needham & Company LLC decreased their price objective on shares of Amkor Technology from $45.00 to $34.00 and set a "buy" rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of Amkor Technology from $48.00 to $42.00 and set an "overweight" rating on the stock in a research report on Tuesday. DA Davidson decreased their price objective on shares of Amkor Technology from $40.00 to $36.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Morgan Stanley cut their target price on Amkor Technology from $35.00 to $26.00 and set an "equal weight" rating for the company in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $35.63.

Amkor Technology Stock Down 5.2 %

AMKR traded down $1.55 during mid-day trading on Tuesday, reaching $27.98. 5,919,123 shares of the stock were exchanged, compared to its average volume of 1,325,689. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.83 and a current ratio of 2.08. The stock has a market capitalization of $6.88 billion, a PE ratio of 18.41 and a beta of 1.84. The company has a 50 day moving average price of $30.62 and a two-hundred day moving average price of $33.26. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $44.86.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.01). Amkor Technology had a return on equity of 9.41% and a net margin of 5.87%. The company had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same period last year, the firm posted $0.54 earnings per share. Amkor Technology's quarterly revenue was up 2.2% compared to the same quarter last year. As a group, research analysts anticipate that Amkor Technology will post 1.55 EPS for the current year.

Insider Buying and Selling at Amkor Technology

In other news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was 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 of the company's stock, valued at approximately $6,458,636.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Winston J. Churchill sold 20,000 shares of the company's stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total transaction of $659,400.00. Following the completion of the sale, the director now directly owns 19,871 shares in the company, valued at $655,146.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 204,971 shares of the company's stock, valued at approximately $6,458,636.21. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 31.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMKR. Driehaus Capital Management LLC acquired a new stake in Amkor Technology in the second quarter valued at approximately $58,379,000. Ceredex Value Advisors LLC acquired a new stake in Amkor Technology in the third quarter valued at approximately $42,610,000. Millennium Management LLC grew its holdings in Amkor Technology by 359.7% in the second quarter. Millennium Management LLC now owns 1,360,292 shares of the semiconductor company's stock valued at $54,439,000 after purchasing an additional 1,064,404 shares during the period. American Century Companies Inc. grew its holdings in Amkor Technology by 54.4% in the second quarter. American Century Companies Inc. now owns 1,673,314 shares of the semiconductor company's stock valued at $66,966,000 after purchasing an additional 589,530 shares during the period. Finally, M&G Plc acquired a new stake in Amkor Technology in the first quarter valued at approximately $11,435,000. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

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.

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