Amkor Technology, Inc. (NASDAQ:AMKR) Lowered to Hold at BidaskClub

BidaskClub cut shares of Amkor Technology, Inc. (NASDAQ:AMKR) from a buy rating to a hold rating in a research report released on Saturday, August 5th.

A number of other research analysts have also commented on the stock. Zacks Investment Research lowered shares of Amkor Technology from a buy rating to a hold rating in a research note on Friday, June 23rd. Deutsche Bank AG reiterated a hold rating and set a $12.00 price objective (up previously from $9.50) on shares of Amkor Technology in a research note on Saturday, April 29th. Finally, ValuEngine upgraded shares of Amkor Technology from a hold rating to a buy rating in a research report on Friday, June 2nd. Three equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $12.25.

Shares of Amkor Technology (AMKR) traded up 0.95% during midday trading on Friday, hitting $8.46. The company had a trading volume of 737,648 shares. The company has a 50-day moving average of $9.77 and a 200 day moving average of $10.67. Amkor Technology has a 12 month low of $8.32 and a 12 month high of $12.48. The firm has a market capitalization of $2.02 billion, a PE ratio of 7.64 and a beta of 2.52.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, July 31st. The semiconductor company reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.03. Amkor Technology had a net margin of 6.63% and a return on equity of 12.95%. The business had revenue of $989 million for the quarter, compared to analyst estimates of $996.10 million. During the same quarter last year, the business earned $0.02 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts expect that Amkor Technology will post $0.54 EPS for the current fiscal year.

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In other Amkor Technology news, insider Stephen Douglas Kelley sold 108,510 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $12.11, for a total transaction of $1,314,056.10. Following the completion of the transaction, the insider now owns 310,460 shares of the company’s stock, valued at approximately $3,759,670.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Roger Anthony Carolin sold 10,000 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $12.05, for a total transaction of $120,500.00. Following the transaction, the director now directly owns 39,476 shares of the company’s stock, valued at approximately $475,685.80. The disclosure for this sale can be found here. Company insiders own 58.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of AMKR. Cookson Peirce & Co. Inc. bought a new position in Amkor Technology during the second quarter valued at about $130,000. Verition Fund Management LLC acquired a new stake in Amkor Technology during the second quarter worth $108,000. Sterling Capital Management LLC boosted its stake in Amkor Technology by 11.0% in the second quarter. Sterling Capital Management LLC now owns 123,243 shares of the semiconductor company’s stock worth $1,204,000 after buying an additional 12,246 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Amkor Technology by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 83,253 shares of the semiconductor company’s stock worth $813,000 after buying an additional 2,281 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in Amkor Technology by 5,107.6% in the second quarter. Cubist Systematic Strategies LLC now owns 28,902 shares of the semiconductor company’s stock worth $282,000 after buying an additional 28,347 shares during the last quarter. Institutional investors own 38.77% of the company’s stock.

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; size, thickness and electrical, and mechanical and thermal performance.

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