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

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

Several other analysts have also issued reports on the company. Needham & Company LLC dropped their price objective on Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lowered their price target on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. StockNews.com cut Amkor Technology from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. DA Davidson dropped their price target on Amkor Technology from $40.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Finally, Melius cut shares of Amkor Technology from a “buy” rating to a “hold” rating and reduced their target price for the company from $34.00 to $30.00 in a research report on Monday. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Amkor Technology currently has an average rating of “Hold” and an average target price of $35.50.

Amkor Technology Trading Up 0.8 %

Amkor Technology stock opened at $26.73 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84. The firm has a 50-day moving average of $26.31 and a 200-day moving average 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 has a one year low of $24.10 and a one year high of $44.86.

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

Amkor Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, December 4th were issued a dividend of $0.0827 per share. The ex-dividend date was Wednesday, December 4th. This is a positive change from Amkor Technology’s previous quarterly dividend of $0.08. This represents a $0.33 annualized dividend and a dividend yield of 1.24%. Amkor Technology’s payout ratio is 22.30%.

Insider Transactions at Amkor Technology

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total value of $315,100.00. Following the sale, the chief executive officer now owns 204,971 shares in the company, valued at approximately $6,458,636.21. The trade was a 4.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 31.40% of the company’s stock.

Institutional Trading of Amkor Technology

Several institutional investors have recently added to or reduced their stakes in AMKR. Ashton Thomas Private Wealth LLC acquired a new position in shares of Amkor Technology in the 2nd quarter worth approximately $40,000. Capital Performance Advisors LLP acquired a new stake in Amkor Technology during the 3rd quarter worth about $39,000. Larson Financial Group LLC grew its holdings in Amkor Technology by 46.3% during the 3rd quarter. Larson Financial Group LLC now owns 1,834 shares of the semiconductor company’s stock worth $56,000 after acquiring an additional 580 shares during the period. Ulland Investment Advisors LLC acquired a new position in shares of Amkor Technology in the 3rd quarter valued at about $82,000. Finally, Quarry LP grew its stake in Amkor Technology by 421.8% during the third quarter. Quarry LP now owns 3,136 shares of the semiconductor company’s stock worth $96,000 after purchasing an additional 2,535 shares during the period. 42.76% of the stock is currently owned by 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.