Amkor Technology (NASDAQ:AMKR) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Amkor Technology from “Buy” to “Hold.” Overall analyst sentiment is also “Hold,” with five Buy, five Hold, and one Sell rating and a consensus price target of $62.50.
• Amkor shares opened at $39.50, down 4.1%, and remain well below their 52-week high of $96.68. The stock’s 50-day and 200-day moving averages are $47.97 and $57.07, respectively.
• The company’s latest quarterly results fell slightly short of expectations, reporting $0.76 in adjusted EPS versus $0.78 expected and $1.99 billion in revenue versus a $2.04 billion consensus estimate, although revenue increased year over year.

Amkor Technology (NASDAQ:AMKR - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

AMKR has been the topic of several other research reports. Bank of America started coverage on Amkor Technology in a report on Thursday, August 27th. They issued a "buy" rating and a $70.00 target price on the stock. Zacks Research cut Amkor Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 28th. Weiss Ratings downgraded Amkor Technology from a "hold (c+)" rating to a "sell (d+)" rating in a report on Wednesday. The Goldman Sachs Group set a $56.00 target price on Amkor Technology in a research report on Tuesday. Finally, B. Riley Financial cut their target price on Amkor Technology from $46.00 to $41.00 and set a "neutral" rating on the stock in a research report on Tuesday. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $62.50.

Amkor Technology Stock Down 4.1%

Shares of Amkor Technology stock opened at $39.50 on Friday. The company has a quick ratio of 1.91, a current ratio of 2.17 and a debt-to-equity ratio of 0.48. Amkor Technology has a 52-week low of $29.76 and a 52-week high of $96.68. The company has a market capitalization of $9.79 billion, a P/E ratio of 15.93, a P/E/G ratio of 0.52 and a beta of 2.21. The company has a 50 day moving average of $47.97 and a 200 day moving average of $57.07.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last announced its quarterly earnings data on Monday, October 26th. The semiconductor company reported $0.76 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.02). Amkor Technology had a net margin of 8.30% and a return on equity of 13.32%. The firm had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $2.04 billion. During the same period in the prior year, the company posted $0.51 earnings per share. The company's revenue for the quarter was up .2% on a year-over-year basis. As a group, research analysts forecast that Amkor Technology will post 2.50 EPS for the current fiscal year.

Insider Transactions at Amkor Technology

In other news, EVP Mark Rogers sold 5,000 shares of Amkor Technology stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $59.78, for a total transaction of $298,900.00. Following the sale, the executive vice president owned 38,904 shares in the company, valued at approximately $2,325,681.12. The trade was a 11.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Giel Rutten sold 25,000 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $55.35, for a total value of $1,383,750.00. Following the completion of the sale, the director directly owned 486,732 shares of the company's stock, valued at $26,940,616.20. The trade was a 4.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 43,000 shares of company stock worth $2,387,120. 26.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amkor Technology

A number of hedge funds have recently modified their holdings of AMKR. BlackRock Inc. purchased a new position in Amkor Technology in the second quarter worth $1,060,005,000. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Amkor Technology during the 2nd quarter worth $152,110,000. Bank of New York Mellon Corp purchased a new stake in shares of Amkor Technology during the 2nd quarter worth $90,656,000. Bank of Nova Scotia purchased a new stake in shares of Amkor Technology during the 2nd quarter worth $58,273,000. Finally, Principal Financial Group Inc. grew its stake in shares of Amkor Technology by 19.3% during the 1st quarter. Principal Financial Group Inc. now owns 2,622,744 shares of the semiconductor company's stock worth $118,107,000 after purchasing an additional 423,629 shares during the period. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

Amkor Technology Company Profile

Amkor Technology, Inc is a provider of outsourced semiconductor packaging and test services. The company helps semiconductor manufacturers and electronics companies assemble, package and test integrated circuits before they are incorporated into finished electronic products.

Amkor's services include wafer bumping, wafer-level packaging, flip-chip packaging, system-in-package solutions, fan-out packaging, leadframe and laminate-based packaging, and semiconductor testing. Its products and services support applications including mobile and consumer electronics, communications, automotive, computing, industrial equipment, and memory devices.

Founded in 1968, Amkor has grown into a global semiconductor supply-chain partner with manufacturing and testing operations across regions including Asia, Europe and the United States.

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