Amkor Technology (NASDAQ:AMKR) Lowered to “Sell” at ValuEngine

ValuEngine downgraded shares of Amkor Technology (NASDAQ:AMKR) from a hold rating to a sell rating in a research report released on Tuesday morning, ValuEngine reports.

A number of other research firms have also weighed in on AMKR. Zacks Investment Research upgraded shares of Amkor Technology from a hold rating to a buy rating and set a $11.00 price objective on the stock in a research note on Tuesday, October 22nd. TheStreet upgraded shares of Amkor Technology from a c+ rating to a b- rating in a research report on Tuesday, October 29th. Deutsche Bank boosted their target price on shares of Amkor Technology from $8.00 to $12.00 and gave the company a hold rating in a research report on Tuesday, October 29th. Credit Suisse Group raised shares of Amkor Technology from a neutral rating to an outperform rating and upped their price target for the company from $8.20 to $15.00 in a report on Tuesday, October 29th. Finally, BidaskClub raised Amkor Technology from a buy rating to a strong-buy rating in a research report on Saturday, October 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $12.67.

Shares of NASDAQ:AMKR opened at $11.74 on Tuesday. The company has a quick ratio of 1.46, a current ratio of 1.68 and a debt-to-equity ratio of 0.68. Amkor Technology has a 52-week low of $5.74 and a 52-week high of $15.24. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 22.15 and a beta of 1.99. The business has a 50-day moving average price of $11.97 and a 200-day moving average price of $9.11.

Amkor Technology (NASDAQ:AMKR) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.15. Amkor Technology had a return on equity of 3.51% and a net margin of 1.26%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Amkor Technology’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, equities analysts anticipate that Amkor Technology will post 0.4 EPS for the current fiscal year.

In related news, EVP John Charles Stone sold 37,352 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $13.44, for a total transaction of $502,010.88. Following the sale, the executive vice president now directly owns 62,368 shares of the company’s stock, valued at $838,225.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roger Anthony Carolin sold 12,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $12.77, for a total transaction of $153,240.00. Following the sale, the director now directly owns 30,383 shares in the company, valued at $387,990.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 129,752 shares of company stock valued at $1,669,383. 59.60% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the business. Metropolitan Life Insurance Co NY boosted its stake in shares of Amkor Technology by 5.4% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 30,887 shares of the semiconductor company’s stock worth $281,000 after acquiring an additional 1,589 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Amkor Technology by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 153,065 shares of the semiconductor company’s stock valued at $1,393,000 after acquiring an additional 1,828 shares during the period. Knuff & Co LLC purchased a new position in shares of Amkor Technology in the 3rd quarter valued at about $27,000. Holocene Advisors LP increased its stake in shares of Amkor Technology by 10.2% in the 2nd quarter. Holocene Advisors LP now owns 37,353 shares of the semiconductor company’s stock valued at $279,000 after purchasing an additional 3,466 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Amkor Technology by 2.1% in the 2nd quarter. Swiss National Bank now owns 200,600 shares of the semiconductor company’s stock valued at $1,496,000 after purchasing an additional 4,100 shares in the last quarter. Institutional investors and hedge funds own 36.77% of the company’s stock.

Amkor Technology Company Profile

Amkor Technology, Inc provides outsourced semiconductor packaging and test services in the United States and internationally. The company offers turnkey packaging and test services, including semiconductor wafer bumps, wafer probes, wafer back-grinds, package design, packaging, and test and drop shipment services.

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