Amkor Technology (NASDAQ:AMKR) Cut to Hold at Melius

Melius downgraded shares of Amkor Technology (NASDAQ:AMKR) from a buy rating to a hold rating in a research note published on Monday, Marketbeat Ratings reports. The brokerage currently has $30.00 price target on the semiconductor company’s stock, down from their previous price target of $34.00.

Other analysts have also issued research reports about the company. Needham & Company LLC dropped their price objective on Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Morgan Stanley dropped their price target on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. The Goldman Sachs Group cut their price target on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. StockNews.com downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, KeyCorp cut their target price on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Amkor Technology presently has an average rating of “Hold” and an average target price of $35.50.

Amkor Technology Price Performance

Shares of NASDAQ:AMKR opened at $26.02 on Monday. The company has a quick ratio of 1.84, a current ratio of 2.06 and a debt-to-equity ratio of 0.21. The stock has a market cap of $6.42 billion, a PE ratio of 17.58 and a beta of 1.83. The company’s fifty day moving average is $26.27 and its 200 day moving average is $30.89. Amkor Technology has a 52 week low of $24.10 and a 52 week high of $44.86.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.01). The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 EPS. Research analysts anticipate that Amkor Technology will post 1.42 earnings per share for the current 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 given a dividend of $0.0827 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.33 annualized dividend and a dividend yield of 1.27%. This is a boost from Amkor Technology’s previous quarterly dividend of $0.08. Amkor Technology’s payout ratio is currently 22.30%.

Insiders Place Their Bets

In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total transaction of $315,100.00. Following the completion of the transaction, the chief executive officer now owns 204,971 shares of the company’s stock, valued at approximately $6,458,636.21. This trade represents a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 31.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Natixis Advisors LLC bought a new position in shares of Amkor Technology during the second quarter valued at approximately $734,000. CIBC Asset Management Inc purchased a new position in Amkor Technology during the second quarter valued at $276,000. Larson Financial Group LLC raised its stake in Amkor Technology by 911.3% during the second quarter. Larson Financial Group LLC now owns 1,254 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 1,130 shares during the last quarter. Arizona State Retirement System boosted its holdings in Amkor Technology by 2.0% in the second quarter. Arizona State Retirement System now owns 31,010 shares of the semiconductor company’s stock worth $1,241,000 after acquiring an additional 616 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Amkor Technology in the second quarter worth $3,799,000. 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.