Amkor Technology, Inc. (NASDAQ:AMKR) Receives Average Recommendation of “Hold” from Analysts

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) have received an average recommendation of “Hold” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $28.00.

Several analysts have recently weighed in on the company. KeyCorp restated a “sector weight” rating on shares of Amkor Technology in a report on Thursday, April 17th. B. Riley cut shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 21st. Needham & Company LLC cut their price target on shares of Amkor Technology from $34.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. JPMorgan Chase & Co. decreased their price objective on Amkor Technology from $30.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, April 29th. Finally, Melius downgraded Amkor Technology from a “buy” rating to a “hold” rating and cut their target price for the stock from $34.00 to $30.00 in a report on Monday, January 6th.

Insider Buying and Selling

In other Amkor Technology news, EVP Kevin Engel sold 5,489 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $21.69, for a total value of $119,056.41. Following the completion of the sale, the executive vice president now directly owns 1,388 shares in the company, valued at approximately $30,105.72. This trade represents a 79.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Agnes C. Kim sold 869,565 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the transaction, the insider now owns 10,020,870 shares in the company, valued at $218,956,009.50. This represents a 7.98 % decrease in their position. The disclosure for this sale can be found here. 26.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amkor Technology

A number of hedge funds have recently added to or reduced their stakes in AMKR. Highland Capital Management LLC lifted its holdings in shares of Amkor Technology by 6.6% in the 4th quarter. Highland Capital Management LLC now owns 7,814 shares of the semiconductor company’s stock worth $201,000 after purchasing an additional 482 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Amkor Technology by 0.5% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 90,081 shares of the semiconductor company’s stock valued at $2,313,000 after buying an additional 484 shares in the last quarter. Robotti Robert grew its holdings in shares of Amkor Technology by 0.3% during the fourth quarter. Robotti Robert now owns 215,837 shares of the semiconductor company’s stock valued at $5,545,000 after buying an additional 705 shares during the last quarter. New York State Teachers Retirement System increased its position in shares of Amkor Technology by 2.0% during the fourth quarter. New York State Teachers Retirement System now owns 39,718 shares of the semiconductor company’s stock worth $1,020,000 after acquiring an additional 782 shares in the last quarter. Finally, GHP Investment Advisors Inc. increased its position in shares of Amkor Technology by 0.8% during the fourth quarter. GHP Investment Advisors Inc. now owns 95,786 shares of the semiconductor company’s stock worth $2,461,000 after acquiring an additional 785 shares in the last quarter. Institutional investors and hedge funds own 42.76% of the company’s stock.

Amkor Technology Price Performance

AMKR stock opened at $18.14 on Tuesday. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 12.69 and a beta of 1.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.11 and a quick ratio of 1.90. The company has a 50 day simple moving average of $18.17 and a 200 day simple moving average of $23.19. Amkor Technology has a 1 year low of $14.03 and a 1 year high of $44.86.

Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings results on Monday, April 28th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Amkor Technology had a net margin of 5.60% and a return on equity of 8.59%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the business earned $0.24 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. Research analysts anticipate that Amkor Technology will post 1.47 EPS for the current fiscal year.

Amkor Technology Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 13th were paid a $0.0827 dividend. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date was Thursday, March 13th. Amkor Technology’s dividend payout ratio is 25.78%.

About Amkor Technology

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.