Amkor Technology Inc. (AMKR) Shares Down 2.2%
Amkor Technology Inc. (NASDAQ:AMKR) shares were down 2.2% on Tuesday . The stock traded as low as $8.89 and last traded at $9.00, with a volume of 976,593 shares traded. The stock had previously closed at $9.20.
Several research analysts have recently weighed in on AMKR shares. Zacks Investment Research cut shares of Amkor Technology from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Credit Suisse Group AG reiterated a “neutral” rating on shares of Amkor Technology in a research note on Tuesday. Citigroup Inc. lifted their price target on shares of Amkor Technology from $5.00 to $6.20 and gave the stock a “sell” rating in a research note on Wednesday, August 3rd. Finally, Deutsche Bank AG lifted their price target on shares of Amkor Technology from $6.00 to $7.50 and gave the stock a “hold” rating in a research note on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $6.99.
The company’s 50 day moving average is $6.86 and its 200 day moving average is $5.92. The stock has a market cap of $2.18 billion and a PE ratio of 81.372.
Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.10. The firm had revenue of $917 million for the quarter, compared to the consensus estimate of $876.28 million. The company’s revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 EPS. Analysts anticipate that Amkor Technology Inc. will post $0.42 earnings per share for the current fiscal year.
In related news, Director James W. Zug sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $7.56, for a total transaction of $75,600.00. Following the completion of 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 SEC, which is available at this hyperlink.
A number of hedge funds and institutional investors recently modified their holdings of the stock. California Public Employees Retirement System raised its position in shares of Amkor Technology by 2.9% in the fourth quarter. California Public Employees Retirement System now owns 804,159 shares of the company’s stock worth $4,889,000 after buying an additional 22,800 shares during the last quarter. Bank of Montreal Can raised its position in shares of Amkor Technology by 346.6% in the fourth quarter. Bank of Montreal Can now owns 498,882 shares of the company’s stock worth $3,034,000 after buying an additional 387,186 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of 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 worth $2,622,000 after buying an additional 96,350 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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