Amkor Technology (NASDAQ:AMKR – Get Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
A number of other research firms have also weighed in on AMKR. JPMorgan Chase & Co. lowered their price objective on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday. KeyCorp reduced their price target on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday. Needham & Company LLC dropped their price objective on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday. DA Davidson cut their price objective on shares of Amkor Technology from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, The Goldman Sachs Group lowered their target price on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.63.
View Our Latest Research Report on Amkor Technology
Amkor Technology Stock Performance
Amkor Technology (NASDAQ:AMKR – Get Free Report) last released its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.01). The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Amkor Technology had a return on equity of 9.41% and a net margin of 5.87%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 earnings per share. As a group, equities analysts predict that Amkor Technology will post 1.55 EPS for the current year.
Insider Transactions at Amkor Technology
In other news, Director Winston J. Churchill sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total value of $659,400.00. Following the completion of the sale, the director now owns 19,871 shares of the company’s stock, valued at $655,146.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Winston J. Churchill sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total value of $659,400.00. Following the completion of the transaction, the director now directly owns 19,871 shares of the company’s stock, valued at $655,146.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Guillaume Marie Jean Rutten sold 10,000 shares of Amkor Technology stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total transaction of $315,100.00. Following the completion of the sale, the chief executive officer now owns 204,971 shares of the company’s stock, valued at $6,458,636.21. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 31.40% of the company’s stock.
Hedge Funds Weigh In On Amkor Technology
Hedge funds have recently made changes to their positions in the company. Driehaus Capital Management LLC acquired a new stake in Amkor Technology during the 2nd quarter worth about $58,379,000. Ceredex Value Advisors LLC acquired a new stake in shares of Amkor Technology during the third quarter worth about $42,610,000. Millennium Management LLC boosted its position in Amkor Technology by 359.7% in the second quarter. Millennium Management LLC now owns 1,360,292 shares of the semiconductor company’s stock valued at $54,439,000 after buying an additional 1,064,404 shares during the last quarter. American Century Companies Inc. increased its holdings in Amkor Technology by 54.4% in the 2nd quarter. American Century Companies Inc. now owns 1,673,314 shares of the semiconductor company’s stock worth $66,966,000 after buying an additional 589,530 shares during the period. Finally, M&G Plc purchased a new position in Amkor Technology during the 1st quarter worth approximately $11,435,000. 42.76% of the stock is owned by institutional investors and hedge funds.
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.
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