Amkor Technology, Inc. (NASDAQ:AMKR) Stock Now Rated "Hold" by Sell-Side Analysts

Key Points

• Analysts broadly rate Amkor Technology “Hold”: Five analysts recommend buying, five advise holding, and one rates it a sell. The average 12-month price target is $62.50, though recent target changes have been mixed.
• Amkor reported quarterly earnings of $0.76 per share and $1.99 billion in revenue, both slightly below analyst expectations, while revenue increased 0.2% year over year. Shares opened at $39.50, well below their 12-month high of $96.68.
• Company insiders sold 43,000 shares worth approximately $2.39 million over the past quarter, while hedge funds and other institutional investors own 42.76% of the stock. Amkor also pays a quarterly dividend of $0.0835, yielding about 0.8% annually.

Amkor Technology, Inc. (NASDAQ:AMKR - Get Free Report) has been assigned an average rating of "Hold" from the eleven analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $62.50.

AMKR has been the topic of several recent research reports. Bank of America assumed coverage on shares of Amkor Technology in a research note on Thursday, August 27th. They issued a "buy" rating and a $70.00 price objective on the stock. Weiss Ratings lowered shares of Amkor Technology from a "hold (c+)" rating to a "sell (d+)" rating in a research note on Wednesday. Wall Street Zen cut shares of Amkor Technology from a "buy" rating to a "hold" rating in a report on Saturday. Zacks Research cut shares of Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, September 28th. Finally, Needham & Company LLC decreased their price target on shares of Amkor Technology from $90.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday.

Insider Buying and Selling

In related news, Director Douglas A. Alexander sold 5,000 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $55.81, for a total transaction of $279,050.00. Following the transaction, the director directly owned 29,109 shares of the company's stock, valued at approximately $1,624,573.29. The trade was a 14.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Megan Faust sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $46.92, for a total transaction of $46,920.00. Following the completion of the transaction, the chief financial officer owned 133,105 shares in the company, valued at approximately $6,245,286.60. This represents a 0.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 43,000 shares of company stock worth $2,387,120. Company insiders own 26.40% of the company's stock.

Institutional Trading of Amkor Technology

Several hedge funds and other institutional investors have recently modified their holdings of AMKR. Covestor Ltd boosted its holdings in Amkor Technology by 204.0% in the third quarter. Covestor Ltd now owns 6,766 shares of the semiconductor company's stock valued at $354,000 after acquiring an additional 4,540 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Amkor Technology by 8.9% in the third quarter. Oregon Public Employees Retirement Fund now owns 25,694 shares of the semiconductor company's stock worth $1,346,000 after purchasing an additional 2,100 shares during the period. BOCHK Asset Management Ltd raised its holdings in Amkor Technology by 62.6% during the 3rd quarter. BOCHK Asset Management Ltd now owns 67,690 shares of the semiconductor company's stock worth $3,546,000 after purchasing an additional 26,070 shares during the last quarter. Greenleaf Trust raised its holdings in Amkor Technology by 6.8% during the 3rd quarter. Greenleaf Trust now owns 4,341 shares of the semiconductor company's stock worth $227,000 after purchasing an additional 278 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Amkor Technology during the 3rd quarter valued at about $3,262,000. 42.76% of the stock is currently owned by hedge funds and other institutional investors.

Amkor Technology Stock Performance

Shares of AMKR stock opened at $39.50 on Friday. Amkor Technology has a 12-month low of $29.76 and a 12-month high of $96.68. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.17 and a quick ratio of 1.91. The firm has a market capitalization of $9.79 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 0.52 and a beta of 2.21. The business has a 50 day simple moving average of $47.97 and a 200 day simple moving average of $57.07.

Amkor Technology (NASDAQ:AMKR - Get Free Report) last announced its earnings results on Monday, October 26th. The semiconductor company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.02). Amkor Technology had a net margin of 8.30% and a return on equity of 13.32%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the previous year, the firm earned $0.51 EPS. The firm's revenue was up .2% on a year-over-year basis. On average, equities research analysts anticipate that Amkor Technology will post 2.50 EPS for the current year.

Amkor Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Wednesday, September 2nd were given a $0.0835 dividend. The ex-dividend date was Wednesday, September 2nd. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.8%. Amkor Technology's dividend payout ratio (DPR) is 13.31%.

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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