Amkor Technology (NASDAQ:AMKR) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Amkor Technology (NASDAQ:AMKR) from a buy rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

A number of other analysts also recently issued reports on AMKR. Morgan Stanley lowered their price target on Amkor Technology from $70.00 to $63.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 27th. Zacks Research cut shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. B. Riley Financial reduced their target price on shares of Amkor Technology from $46.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 27th. UBS Group upgraded shares of Amkor Technology from a “neutral” rating to a “buy” rating and raised their target price for the stock from $80.00 to $90.00 in a report on Friday, July 24th. Finally, Weiss Ratings cut shares of Amkor Technology from a “hold (c+)” rating to a “sell (d+)” rating in a research note on Wednesday, October 28th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Amkor Technology currently has an average rating of “Hold” and an average target price of $62.50.

Amkor Technology Stock Down 6.4%

Shares of NASDAQ AMKR opened at $36.96 on Friday. The firm’s 50-day moving average price is $47.70 and its 200-day moving average price is $56.99. The company has a current ratio of 2.17, a quick ratio of 1.91 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 0.53 and a beta of 2.21. Amkor Technology has a 12-month low of $29.76 and a 12-month high of $96.68.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, October 26th. The semiconductor company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.02). Amkor Technology had a return on equity of 13.32% and a net margin of 8.30%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the prior year, the business posted $0.51 EPS. The company’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 fiscal year.

Amkor Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Wednesday, September 2nd were given a dividend of $0.0835 per share. This represents a $0.33 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, September 2nd. Amkor Technology’s dividend payout ratio (DPR) is 13.31%.

Insider Activity at Amkor Technology

In other news, Director Giel Rutten sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $55.35, for a total transaction of $1,383,750.00. Following the completion of the sale, the director directly owned 486,732 shares of the company’s stock, valued at approximately $26,940,616.20. The trade was a 4.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Megan Faust sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 13th. The stock was 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. The trade was a 0.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 43,000 shares of company stock valued at $2,387,120 over the last ninety days. Company insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Amkor Technology

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Amkor Technology during the second quarter worth approximately $1,060,005,000. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Amkor Technology in the second quarter valued at approximately $152,110,000. Bank of New York Mellon Corp bought a new position in Amkor Technology in the second quarter worth approximately $90,656,000. Bank of Nova Scotia bought a new position in Amkor Technology in the second quarter worth approximately $58,273,000. Finally, Principal Financial Group Inc. grew its stake in Amkor Technology by 19.3% in the first quarter. Principal Financial Group Inc. now owns 2,622,744 shares of the semiconductor company’s stock worth $118,107,000 after purchasing an additional 423,629 shares in the last quarter. 42.76% of the stock is owned by hedge funds and other institutional investors.

About Amkor Technology

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.