Amkor Technology (NASDAQ:AMKR – Get Rating) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
Separately, DA Davidson reduced their target price on shares of Amkor Technology from $35.00 to $32.00 in a research report on Tuesday, May 2nd.
Amkor Technology Stock Performance
Amkor Technology stock opened at $26.39 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.08 and a quick ratio of 1.69. Amkor Technology has a 1-year low of $14.89 and a 1-year high of $31.38. The firm has a market capitalization of $6.48 billion, a P/E ratio of 10.15 and a beta of 1.74. The company’s 50-day moving average is $23.74 and its 200 day moving average is $25.67.
Amkor Stock Rising for Legacy Status
Amkor Technology (NASDAQ:AMKR – Get Rating) last posted its quarterly earnings data on Monday, May 1st. The semiconductor company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. Amkor Technology had a net margin of 9.19% and a return on equity of 18.08%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the company posted $0.69 EPS. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. Research analysts forecast that Amkor Technology will post 1.7 EPS for the current year.
Insider Buying and Selling
In related news, CFO Megan Faust sold 2,700 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $22.66, for a total transaction of $61,182.00. Following the completion of the transaction, the chief financial officer now owns 35,394 shares of the company’s stock, valued at $802,028.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 30,000 shares of Amkor Technology stock in a transaction on Monday, April 17th. The shares were sold at an average price of $23.92, for a total value of $717,600.00. Following the completion of the transaction, the chief executive officer now owns 119,808 shares of the company’s stock, valued at $2,865,807.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Megan Faust sold 2,700 shares of Amkor Technology stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $22.66, for a total transaction of $61,182.00. Following the completion of the transaction, the chief financial officer now directly owns 35,394 shares of the company’s stock, valued at approximately $802,028.04. The disclosure for this sale can be found here. Insiders sold a total of 46,400 shares of company stock valued at $1,114,857 over the last 90 days. Insiders own 53.30% of the company’s stock.
Institutional Trading of Amkor Technology
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in Amkor Technology by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,711,184 shares of the semiconductor company’s stock worth $376,754,000 after acquiring an additional 51,306 shares during the last quarter. BlackRock Inc. boosted its position in Amkor Technology by 0.6% during the first quarter. BlackRock Inc. now owns 13,307,863 shares of the semiconductor company’s stock worth $346,271,000 after acquiring an additional 84,120 shares during the last quarter. Vanguard Group Inc. boosted its position in Amkor Technology by 1.1% during the first quarter. Vanguard Group Inc. now owns 12,002,251 shares of the semiconductor company’s stock worth $260,689,000 after acquiring an additional 132,938 shares during the last quarter. State Street Corp boosted its position in Amkor Technology by 2.8% during the first quarter. State Street Corp now owns 3,515,892 shares of the semiconductor company’s stock worth $91,484,000 after acquiring an additional 95,883 shares during the last quarter. Finally, SW Investment Management LLC boosted its position in Amkor Technology by 9.1% during the first quarter. SW Investment Management LLC now owns 3,000,000 shares of the semiconductor company’s stock worth $65,165,000 after acquiring an additional 250,000 shares during the last quarter. Hedge funds and other institutional investors own 37.80% of the company’s stock.
About Amkor Technology
Amkor Technology, Inc provides outsourced semiconductor packaging and test services. Its services include design, package characterization, test and wafer bumping services. The firm’s operations include production facilities, product development centers, and sales and support offices. The company was founded in 1986 and is headquartered in Tempe, AZ.