Amkor Technology (NASDAQ:AMKR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Amkor is well positioned in growth markets like industrial and auto and communication. The company delivered strong fourth-quarter earnings aided by robust growth in all end markets, primarily auto and mobile communication end markets. The acquisition of Nanium S.A 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. Estimates have been stable lately ahead of the company’s Q4 earnings release. The company has mixed record of earnings surprises in recent quarters. However, we remain concerned about weakness in the smartphone market. Also, in past 12 months, the stock has underperformed the industry it belongs to.”
AMKR has been the topic of several other research reports. BidaskClub lowered Amkor Technology from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th. ValuEngine upgraded Amkor Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, February 14th. Finally, Credit Suisse Group upgraded Amkor Technology from a “neutral” rating to an “outperform” rating in a research note on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Amkor Technology has an average rating of “Hold” and an average price target of $10.50.
Shares of Amkor Technology stock opened at $10.19 on Tuesday. The firm has a market cap of $2,452.45, a PE ratio of 17.57 and a beta of 2.42. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.97 and a current ratio of 1.21. Amkor Technology has a 12 month low of $8.32 and a 12 month high of $12.48.
Amkor Technology (NASDAQ:AMKR) last announced its quarterly earnings results on Monday, February 12th. The semiconductor company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.19 by $0.06. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.09 billion. Amkor Technology had a return on equity of 8.81% and a net margin of 6.23%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 earnings per share. sell-side analysts predict that Amkor Technology will post 0.78 earnings per share for the current year.
In other Amkor Technology news, Director Winston J. Churchill sold 60,000 shares of Amkor Technology stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $11.36, for a total value of $681,600.00. Following the transaction, the director now owns 48,776 shares in the company, valued at $554,095.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 57.90% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Quantitative Systematic Strategies LLC purchased a new position in Amkor Technology in the fourth quarter valued at about $107,000. M&T Bank Corp purchased a new position in Amkor Technology in the fourth quarter valued at about $111,000. Regentatlantic Capital LLC purchased a new position in Amkor Technology in the fourth quarter valued at about $113,000. Xact Kapitalforvaltning AB purchased a new position in Amkor Technology in the fourth quarter valued at about $144,000. Finally, CAPROCK Group Inc. purchased a new position in Amkor Technology in the fourth quarter valued at about $148,000. Institutional investors own 40.21% of the company’s stock.
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About Amkor Technology
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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