Zacks Investment Research lowered shares of Amkor Technology, Inc. (NASDAQ:AMKR) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Amkor Technology is a leading supplier of semiconductor packaging and test services. The company delivered strong third-quarter earnings aided by robust growth in industrial, auto and communication end markets. The acquisition of Nanium S.A. It is expected to strengthen the company's foothold in the fast-growing market of wafer-level packaging. Its high revenues and strong cash flow generation is a big positive. Amkor is well positioned in growth markets like industrial and auto and communication. However, we remain concerned about weakness in the smartphone market. Also, on a year-to-date basis, the stock has underperformed the industry it belongs to.”
A number of other equities analysts also recently commented on the stock. ValuEngine raised shares of Amkor Technology from a buy rating to a strong-buy rating in a report on Tuesday, August 1st. Deutsche Bank AG reaffirmed a hold rating and set a $10.50 price objective (down from $12.00) on shares of Amkor Technology in a report on Tuesday, August 1st. Finally, BidaskClub downgraded shares of Amkor Technology from a buy rating to a hold rating in a report on Saturday, August 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the stock. The company currently has an average rating of Hold and an average target price of $10.50.
Shares of Amkor Technology (AMKR) opened at $11.16 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.94 and a debt-to-equity ratio of 0.81. The firm has a market cap of $2.67 billion, a P/E ratio of 14.84 and a beta of 2.69. Amkor Technology has a 52-week low of $8.32 and a 52-week high of $12.48.
Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings results on Monday, October 30th. The semiconductor company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Amkor Technology had a net margin of 6.41% and a return on equity of 12.32%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm earned $0.25 EPS. The business’s revenue was up 4.5% on a year-over-year basis. equities research analysts forecast that Amkor Technology will post 0.51 earnings per share for the current fiscal year.
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Several large investors have recently modified their holdings of the company. Verition Fund Management LLC bought a new position in Amkor Technology during the 2nd quarter worth approximately $108,000. UBS Group AG boosted its stake in Amkor Technology by 25.2% during the 1st quarter. UBS Group AG now owns 10,760 shares of the semiconductor company’s stock worth $124,000 after acquiring an additional 2,164 shares during the last quarter. Eagle Global Advisors LLC bought a new position in Amkor Technology during the 2nd quarter worth approximately $124,000. Amalgamated Bank boosted its stake in Amkor Technology by 2.8% during the 2nd quarter. Amalgamated Bank now owns 12,910 shares of the semiconductor company’s stock worth $126,000 after acquiring an additional 349 shares during the last quarter. Finally, ARP Americas LLC bought a new position in Amkor Technology during the 2nd quarter worth approximately $128,000. Institutional investors own 38.54% of the company’s stock.
Amkor Technology Company Profile
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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