Amkor Technology (AMKR) Lowered to “Strong Sell” at Zacks Investment Research

Amkor Technology (NASDAQ:AMKR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday.

According to Zacks, “Amkor is well positioned in growth markets like industrial and auto and communication. The company delivered strong fourth-quarter earnings aided by robust growth in all end markets, primarily auto and mobile communication end markets. The acquisition of Nanium S.A is expected to strengthen the company's foothold in the fast-growing market of wafer-level packaging. Its high revenues and strong cash flow generation is a big positive. However, we remain concerned about weakness in the smartphone market. Also, in past 12 months, the stock has underperformed the industry it belongs to.”

A number of other analysts have also recently commented on the company. ValuEngine cut Amkor Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Credit Suisse Group upgraded Amkor Technology from a “neutral” rating to an “outperform” rating in a research report on Tuesday. Finally, BidaskClub cut Amkor Technology from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $10.50.

Shares of Amkor Technology (NASDAQ:AMKR) traded up $0.53 during mid-day trading on Wednesday, reaching $10.03. The company had a trading volume of 2,915,700 shares, compared to its average volume of 1,018,440. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.92 and a current ratio of 1.16. The stock has a market capitalization of $2,273.16, a PE ratio of 9.20 and a beta of 2.52. Amkor Technology has a 52 week low of $8.32 and a 52 week high of $12.48.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Monday, February 12th. The semiconductor company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.06. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Amkor Technology had a return on equity of 9.08% and a net margin of 6.23%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 earnings per share. research analysts anticipate that Amkor Technology will post 0.88 EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. Quantitative Investment Management LLC purchased a new stake in shares of Amkor Technology in the fourth quarter valued at approximately $525,000. AXA increased its position in shares of Amkor Technology by 4.2% in the fourth quarter. AXA now owns 612,000 shares of the semiconductor company’s stock valued at $6,151,000 after buying an additional 24,700 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Amkor Technology by 42.9% in the fourth quarter. Alliancebernstein L.P. now owns 252,710 shares of the semiconductor company’s stock valued at $2,540,000 after buying an additional 75,880 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of Amkor Technology in the fourth quarter valued at approximately $508,000. Finally, Allianz Asset Management GmbH increased its position in shares of Amkor Technology by 6.7% in the fourth quarter. Allianz Asset Management GmbH now owns 378,069 shares of the semiconductor company’s stock valued at $3,800,000 after buying an additional 23,897 shares in the last quarter. Institutional investors and hedge funds own 39.57% of the company’s stock.

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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; size, thickness and electrical, and mechanical and thermal performance.

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