Amkor Technology (NASDAQ:AMKR) Downgraded to “Hold” Rating by Melius Research

Melius Research cut shares of Amkor Technology (NASDAQ:AMKR) from a strong-buy rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Several other brokerages also recently commented on AMKR. JPMorgan Chase & Co. lowered their price objective on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. DA Davidson reduced their target price on Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Melius lowered Amkor Technology from a “buy” rating to a “hold” rating and dropped their price target for the stock from $34.00 to $30.00 in a report on Monday. KeyCorp decreased their target price 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. Finally, StockNews.com cut shares of Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $35.50.

Amkor Technology Trading Up 0.8 %

NASDAQ AMKR opened at $26.73 on Monday. The company has a quick ratio of 1.84, a current ratio of 2.06 and a debt-to-equity ratio of 0.21. Amkor Technology has a 52 week low of $24.10 and a 52 week high of $44.86. The business has a 50 day moving average price of $26.31 and a 200-day moving average price of $31.01. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 18.06 and a beta of 1.83.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.01). The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 EPS. As a group, equities analysts expect that Amkor Technology will post 1.42 earnings per share for the current fiscal year.

Amkor Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, December 4th were paid a $0.0827 dividend. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Wednesday, December 4th. This is a boost from Amkor Technology’s previous quarterly dividend of $0.08. Amkor Technology’s dividend payout ratio (DPR) is presently 22.30%.

Insider Activity

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 31.40% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

A number of hedge funds have recently bought and sold shares of AMKR. Capital Performance Advisors LLP bought a new position in shares of Amkor Technology in the third quarter worth approximately $39,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Amkor Technology in the 2nd quarter worth $40,000. Larson Financial Group LLC lifted its holdings in shares of Amkor Technology by 46.3% during the third quarter. Larson Financial Group LLC now owns 1,834 shares of the semiconductor company’s stock valued at $56,000 after purchasing an additional 580 shares in the last quarter. Ulland Investment Advisors LLC bought a new stake in Amkor Technology in the 3rd quarter worth about $82,000. Finally, Quarry LP boosted its holdings in shares of Amkor Technology by 421.8% during the 3rd quarter. Quarry LP now owns 3,136 shares of the semiconductor company’s stock valued at $96,000 after acquiring 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.