Deutsche Bank AG Reiterates “Hold” Rating for Amkor Technology, Inc. (NASDAQ:AMKR)

Amkor Technology, Inc. (NASDAQ:AMKR)‘s stock had its “hold” rating reiterated by research analysts at Deutsche Bank AG in a research note issued on Tuesday, August 1st. They currently have a $10.50 price target on the semiconductor company’s stock, down from their previous price target of $12.00. Deutsche Bank AG’s price objective suggests a potential upside of 24.11% from the stock’s previous close.

Several other research analysts have also commented on AMKR. BidaskClub lowered Amkor Technology from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. ValuEngine raised Amkor Technology from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research raised Amkor Technology from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Tuesday, May 2nd. Finally, TheStreet raised Amkor Technology from a “c” rating to a “b-” rating in a report on Tuesday, April 4th. Three equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $12.25.

Amkor Technology (NASDAQ AMKR) traded up 0.95% during midday trading on Tuesday, reaching $8.46. 737,648 shares of the company’s stock were exchanged. The stock has a market cap of $2.02 billion, a P/E ratio of 7.64 and a beta of 2.52. The firm’s 50-day moving average is $9.77 and its 200 day moving average is $10.67. Amkor Technology has a 1-year low of $8.32 and a 1-year high of $12.48.

Amkor Technology (NASDAQ:AMKR) last posted its earnings results on Monday, July 31st. The semiconductor company reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.03. Amkor Technology had a return on equity of 12.95% and a net margin of 6.63%. The business had revenue of $989 million during the quarter, compared to analyst estimates of $996.10 million. During the same quarter in the previous year, the firm earned $0.02 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts anticipate that Amkor Technology will post $0.54 earnings per share for the current fiscal year.

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In related news, insider Stephen Douglas Kelley sold 108,510 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $12.11, for a total value of $1,314,056.10. Following the completion of the sale, the insider now owns 310,460 shares in the company, valued at approximately $3,759,670.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roger Anthony Carolin sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $12.05, for a total value of $120,500.00. Following the completion of the sale, the director now owns 39,476 shares of the company’s stock, valued at approximately $475,685.80. The disclosure for this sale can be found here. Insiders own 58.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in AMKR. Norges Bank bought a new stake in shares of Amkor Technology during the fourth quarter valued at $13,651,000. Paloma Partners Management Co increased its stake in shares of Amkor Technology by 1,016.3% in the first quarter. Paloma Partners Management Co now owns 124,234 shares of the semiconductor company’s stock valued at $1,439,000 after buying an additional 113,105 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Amkor Technology by 48.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,468,118 shares of the semiconductor company’s stock valued at $17,016,000 after buying an additional 481,544 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Amkor Technology by 36.2% in the first quarter. Wellington Management Group LLP now owns 1,142,490 shares of the semiconductor company’s stock valued at $13,241,000 after buying an additional 303,441 shares during the last quarter. Finally, Vident Investment Advisory LLC increased its stake in shares of Amkor Technology by 54.6% in the first quarter. Vident Investment Advisory LLC now owns 249,293 shares of the semiconductor company’s stock valued at $2,889,000 after buying an additional 88,044 shares during the last quarter. Hedge funds and other institutional investors own 38.77% of the company’s stock.

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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