Amkor Technology (NASDAQ:AMKR - Free Report) had its price objective cut by Morgan Stanley from $24.00 to $19.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the semiconductor company's stock.
Several other analysts have also recently commented on AMKR. DA Davidson reduced their price objective on shares of Amkor Technology from $36.00 to $30.00 and set a "buy" rating for the company in a research note on Tuesday. KeyCorp restated a "sector weight" rating on shares of Amkor Technology in a report on Thursday, April 17th. Melius Research cut Amkor Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, January 6th. B. Riley downgraded Amkor Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Amkor Technology from $42.00 to $30.00 and set an "overweight" rating for the company in a research note on Tuesday, February 11th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $28.00.
Read Our Latest Stock Analysis on Amkor Technology
Amkor Technology Stock Performance
Shares of NASDAQ AMKR traded up $0.66 during mid-day trading on Tuesday, hitting $18.14. 1,866,839 shares of the company were exchanged, compared to its average volume of 1,769,416. The stock has a 50 day simple moving average of $18.24 and a 200-day simple moving average of $23.33. Amkor Technology has a 1-year low of $14.03 and a 1-year high of $44.86. The company has a quick ratio of 1.90, a current ratio of 2.11 and a debt-to-equity ratio of 0.22. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 12.69 and a beta of 1.88.
Amkor Technology (NASDAQ:AMKR - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The semiconductor company reported $0.09 earnings per share for the quarter, meeting analysts' consensus estimates of $0.09. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. The company's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 earnings per share. On average, sell-side analysts forecast that Amkor Technology will post 1.47 EPS for the current fiscal year.
Amkor Technology Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 13th were issued a $0.0827 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.33 annualized dividend and a yield of 1.82%. Amkor Technology's dividend payout ratio (DPR) is presently 25.78%.
Insiders Place Their Bets
In related news, major shareholder Agnes C. Kim sold 869,565 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $21.85, for a total value of $18,999,995.25. Following the completion of the transaction, the insider now directly owns 10,020,870 shares in the company, valued at approximately $218,956,009.50. This represents a 7.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kevin Engel sold 5,489 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total value of $119,056.41. Following the completion of the sale, the executive vice president now directly owns 1,388 shares in the company, valued at approximately $30,105.72. The trade was a 79.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 26.90% of the company's stock.
Hedge Funds Weigh In On Amkor Technology
Several institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new stake in shares of Amkor Technology during the 4th quarter valued at $27,000. UMB Bank n.a. boosted its holdings in Amkor Technology by 677.0% in the first quarter. UMB Bank n.a. now owns 1,756 shares of the semiconductor company's stock valued at $32,000 after acquiring an additional 1,530 shares during the last quarter. Jones Financial Companies Lllp grew its position in Amkor Technology by 353.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 1,160 shares during the period. Allworth Financial LP increased its stake in Amkor Technology by 166.3% during the first quarter. Allworth Financial LP now owns 2,173 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 1,357 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Amkor Technology by 421.0% in the 4th quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company's stock worth $39,000 after purchasing an additional 1,242 shares during the period. Institutional investors and hedge funds own 42.76% of the company's stock.
About Amkor Technology
(
Get Free Report)
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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