Amkor Technology Inc. (AMKR) Stock Rating Lowered by Zacks Investment Research
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. “
A number of other equities research analysts have also recently weighed in on the company. Credit Suisse Group AG reaffirmed a neutral rating on shares of Amkor Technology in a report on Tuesday, August 16th. Citigroup Inc. raised their price target on Amkor Technology from $5.00 to $6.20 and gave the company a sell rating in a report on Wednesday, August 3rd. Finally, Deutsche Bank AG raised 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 research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $7.36.
Shares of Amkor Technology (NASDAQ:AMKR) opened at 9.92 on Tuesday. The stock’s 50 day moving average price is $9.26 and its 200 day moving average price is $6.97. Amkor Technology has a one year low of $4.09 and a one year high of $9.99. The stock has a market capitalization of $2.36 billion, a P/E ratio of 87.79 and a beta of 2.29.
Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, August 1st. The company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.10. Amkor Technology had a return on equity of 3.00% and a net margin of 0.72%. The business earned $917 million during the quarter, compared to analysts’ expectations of $876.28 million. During the same period in the prior year, the firm posted $0.08 EPS. Amkor Technology’s quarterly revenue was up 24.4% compared to the same quarter last year. On average, analysts forecast that Amkor Technology will post $0.42 EPS for the current year.
In other news, insider John Charles Stone sold 6,600 shares of Amkor Technology stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $9.25, for a total value of $61,050.00. Following the completion of the sale, the insider now directly owns 6,600 shares of the company’s stock, valued at approximately $61,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James W. Zug sold 10,000 shares of Amkor Technology stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $7.56, for a total value of $75,600.00. Following the completion of the sale, the director now directly owns 55,828 shares of the company’s stock, valued at $422,059.68. The disclosure for this sale can be found here. 58.70% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in Amkor Technology by 30.4% in the first quarter. JPMorgan Chase & Co. now owns 3,984,705 shares of the company’s stock valued at $23,470,000 after buying an additional 929,822 shares during the period. Landscape Capital Management L.L.C. boosted its stake in Amkor Technology by 878.6% in the first quarter. Landscape Capital Management L.L.C. now owns 159,700 shares of the company’s stock valued at $941,000 after buying an additional 143,380 shares during the period. Zebra Capital Management LLC boosted its stake in Amkor Technology by 5.7% in the first quarter. Zebra Capital Management LLC now owns 173,169 shares of the company’s stock valued at $1,020,000 after buying an additional 9,293 shares during the period. Renaissance Technologies LLC boosted its stake in Amkor Technology by 73.7% in the first quarter. Renaissance Technologies LLC now owns 2,714,500 shares of the company’s stock valued at $15,988,000 after buying an additional 1,151,600 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in Amkor Technology during the second quarter valued at approximately $137,000. 31.95% of the stock is owned by institutional investors.
About Amkor Technology
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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