Amkor Technology Inc. (AMKR) Downgraded by Zacks Investment Research to Hold
According to Zacks, “Amkor is the world’s largest independent provider of semiconductor packaging and test services. Also, the company is one of the leading developers of advanced semiconductor packaging and test technology. The company offers one of the industry’s broadest integrated sets of packaging and test services, which are the final procedures necessary to prepare semiconductor devices for further use. Its customers outsource the packaging and testing of semiconductor chips to the company in order to benefit from the our expertise in the development and implementation. “
AMKR has been the subject of several other reports. Citigroup Inc. boosted their target price on shares of Amkor Technology from $5.00 to $6.20 and gave the company a sell rating in a research report on Wednesday, August 3rd. Credit Suisse Group AG restated a neutral rating on shares of Amkor Technology in a research report on Tuesday, August 16th. Finally, Deutsche Bank AG boosted their target price on shares of Amkor Technology from $6.00 to $7.50 and gave the company a hold rating in a research report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Amkor Technology presently has a consensus rating of Hold and a consensus price target of $7.36.
Shares of Amkor Technology (NASDAQ:AMKR) opened at 9.78 on Tuesday. Amkor Technology has a one year low of $4.09 and a one year high of $9.95. The company has a market capitalization of $2.32 billion, a PE ratio of 86.55 and a beta of 2.30. The company has a 50-day moving average of $9.19 and a 200-day moving average of $6.89.
Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.10. The firm earned $917 million during the quarter, compared to the consensus estimate of $876.28 million. Amkor Technology had a net margin of 0.72% and a return on equity of 3.00%. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 EPS. On average, analysts anticipate that Amkor Technology will post $0.42 earnings per share for the current year.
In related news, insider John Charles Stone sold 6,600 shares of the stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $9.25, for a total transaction of $61,050.00. Following the transaction, the insider now directly owns 6,600 shares of the company’s stock, valued at $61,050. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James W. Zug sold 10,000 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $7.56, for a total transaction of $75,600.00. Following the transaction, the director now directly owns 55,828 shares in the company, valued at $422,059.68. The disclosure for this sale can be found here. 58.70% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Fox Run Management L.L.C. bought a new position in shares of Amkor Technology during the second quarter valued at about $137,000. Engineers Gate Manager LP bought a new position in shares of Amkor Technology during the second quarter valued at about $144,000. Principal Financial Group Inc. raised its position in shares of Amkor Technology by 31.0% in the second quarter. Principal Financial Group Inc. now owns 25,064 shares of the company’s stock valued at $144,000 after buying an additional 5,925 shares in the last quarter. A.R.T. Advisors LLC bought a new position in shares of Amkor Technology during the second quarter valued at about $239,000. Finally, BlackRock Inc. raised its position in shares of Amkor Technology by 209.2% in the second quarter. BlackRock Inc. now owns 46,757 shares of the company’s stock valued at $268,000 after buying an additional 31,634 shares in the last quarter. 31.95% of the stock is currently owned by institutional investors and hedge funds.
Amkor Technology Company Profile
Amkor Technology, Inc is a provider of outsourced semiconductor packaging and test services. The Company’s packaging and test services are designed to meet application and chip specific requirements, including the type of interconnect technology employed, size, thickness and electrical, and mechanical and thermal performance.
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