Amkor Technology Inc. (AMKR) Stock Price Down 2.2%
Amkor Technology Inc. (NASDAQ:AMKR) shares were down 2.2% during mid-day trading on Tuesday . The company traded as low as $8.89 and last traded at $9.00, with a volume of 976,593 shares changing hands. The stock had previously closed at $9.20.
A number of research analysts have issued reports on AMKR shares. Topeka Capital Markets lifted their price objective on Amkor Technology from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, April 28th. Credit Suisse Group AG cut Amkor Technology from an “outperform” rating to a “neutral” rating in a report on Thursday, April 28th. Zacks Investment Research raised Amkor Technology from a “hold” rating to a “strong-buy” rating and set a $6.50 price target for the company in a report on Friday, April 29th. Citigroup Inc. cut Amkor Technology from a “neutral” rating to a “sell” rating in a report on Wednesday, May 25th. Finally, Deutsche Bank AG lifted their price target on Amkor Technology from $6.00 to $7.50 and gave the company a “hold” rating in a report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Amkor Technology presently has a consensus rating of “Hold” and an average target price of $6.99.
The firm has a 50 day moving average of $6.65 and a 200 day moving average of $5.88. The stock has a market capitalization of $2.12 billion and a PE ratio of 79.12.
Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.10. During the same quarter in the previous year, the business earned $0.08 EPS. The firm had revenue of $917 million for the quarter, compared to the consensus estimate of $876.28 million. The firm’s quarterly revenue was up 24.4% on a year-over-year basis. Equities analysts anticipate that Amkor Technology Inc. will post $0.42 earnings per share for the current fiscal year.
In other Amkor Technology news, 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 owns 55,828 shares in the company, valued at approximately $422,059.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Other hedge funds and institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in Amkor Technology by 28.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 431,325 shares of the company’s stock valued at $2,622,000 after buying an additional 96,350 shares during the last quarter. Bank of Montreal Can boosted its position in Amkor Technology by 346.6% in the fourth quarter. Bank of Montreal Can now owns 498,882 shares of the company’s stock valued at $3,034,000 after buying an additional 387,186 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in Amkor Technology by 2.9% in the fourth quarter. California Public Employees Retirement System now owns 804,159 shares of the company’s stock valued at $4,889,000 after buying an additional 22,800 shares during the last quarter.
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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