Amkor Technology (AMKR) Downgraded to “Sell” at BidaskClub

BidaskClub downgraded shares of Amkor Technology (NASDAQ:AMKR) from a hold rating to a sell rating in a report released on Thursday.

Several other brokerages have also commented on AMKR. ValuEngine lowered shares of Amkor Technology from a buy rating to a hold rating in a research report on Friday, December 1st. Zacks Investment Research lowered shares of Amkor Technology from a hold rating to a sell rating in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $10.50.

Shares of Amkor Technology (NASDAQ AMKR) traded down $0.04 on Thursday, reaching $10.47. 540,500 shares of the company’s stock traded hands, compared to its average volume of 931,922. The company has a quick ratio of 0.92, a current ratio of 1.16 and a debt-to-equity ratio of 0.79. The firm has a market cap of $2,505.26, a PE ratio of 9.61 and a beta of 2.62. 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 data on Monday, October 30th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Amkor Technology had a net margin of 6.41% and a return on equity of 12.04%. Amkor Technology’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. sell-side analysts anticipate that Amkor Technology will post 0.51 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of AMKR. Verition Fund Management LLC purchased a new stake in shares of Amkor Technology during the 2nd quarter worth $108,000. Amalgamated Bank boosted its position in shares of Amkor Technology by 2.8% in the 2nd quarter. Amalgamated Bank now owns 12,910 shares of the semiconductor company’s stock worth $126,000 after buying an additional 349 shares in the last quarter. Cookson Peirce & Co. Inc. purchased a new stake in shares of Amkor Technology in the 2nd quarter worth about $130,000. Optimum Investment Advisors purchased a new stake in shares of Amkor Technology in the 2nd quarter worth about $144,000. Finally, Magnetar Financial LLC purchased a new stake in shares of Amkor Technology in the 3rd quarter worth about $150,000. Institutional investors own 39.38% of the company’s stock.

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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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