Amkor Technology (AMKR) Rating Increased to Hold at Zacks Investment Research

Amkor Technology (NASDAQ:AMKR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “Amkor continues to gain from the growth opportunities in the automotive market. However,  the weakness in the smartphone market is hampering the company’s performance in the communication sector. Notably, shares of the company have returned a loss on a year to date basis, underperforming the industry it belongs to. Increasing acquisitions by Amkor are benefiting its market position on one hand but also mounting acquisition costs on the other hand which is negative for the company. Moreover, integration issues related to growing acquisitions are headwinds. Also, high fixed cost structure of the company might hurt its profitability.”

AMKR has been the subject of several other reports. Citigroup decreased their target price on shares of Amkor Technology from $9.25 to $8.75 and set a “sell” rating for the company in a research note on Monday, April 30th. BidaskClub cut shares of Amkor Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, April 4th. Finally, ValuEngine raised shares of Amkor Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, May 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Amkor Technology currently has a consensus rating of “Hold” and a consensus target price of $9.63.

Amkor Technology opened at $8.61 on Tuesday, according to Marketbeat.com. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.08 and a current ratio of 1.28. Amkor Technology has a 12-month low of $8.19 and a 12-month high of $11.88. The company has a market capitalization of $2.08 billion, a PE ratio of 15.24 and a beta of 2.46.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data on Thursday, April 26th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.01). Amkor Technology had a net margin of 6.52% and a return on equity of 9.55%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the business earned ($0.06) earnings per share. Amkor Technology’s revenue for the quarter was up 14.0% on a year-over-year basis. analysts predict that Amkor Technology will post 0.57 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank boosted its position in Amkor Technology by 4.0% during the fourth quarter. Swiss National Bank now owns 183,400 shares of the semiconductor company’s stock worth $1,843,000 after purchasing an additional 7,100 shares during the period. AXA lifted its holdings in shares of Amkor Technology by 4.2% during the fourth quarter. AXA now owns 612,000 shares of the semiconductor company’s stock worth $6,151,000 after buying an additional 24,700 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Amkor Technology by 18.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,138,720 shares of the semiconductor company’s stock worth $11,443,000 after buying an additional 175,373 shares in the last quarter. Ascend Capital LLC acquired a new stake in shares of Amkor Technology during the fourth quarter worth $486,000. Finally, Cornerstone Capital Management Holdings LLC. lifted its holdings in shares of Amkor Technology by 128.5% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 399,067 shares of the semiconductor company’s stock worth $4,010,000 after buying an additional 224,400 shares in the last quarter. 40.26% of the stock is owned by hedge funds and other institutional investors.

Amkor Technology Company Profile

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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