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 report issued 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.”

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Several other research firms have also weighed in on AMKR. BidaskClub raised Amkor Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. ValuEngine lowered Amkor Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Finally, Credit Suisse Group raised Amkor Technology from a “neutral” rating to an “outperform” rating in a research report on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $10.50.

Shares of NASDAQ:AMKR traded up $0.09 during trading on Tuesday, hitting $10.33. 176,367 shares of the company were exchanged, compared to its average volume of 954,582. The firm has a market capitalization of $2,423.71, a price-to-earnings ratio of 17.84 and a beta of 2.42. Amkor Technology has a fifty-two week low of $8.32 and a fifty-two week high of $12.48. The company has a quick ratio of 0.97, a current ratio of 1.21 and a debt-to-equity ratio of 0.73.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings results on Monday, February 12th. The semiconductor company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ 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 quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 EPS. analysts anticipate that Amkor Technology will post 0.78 earnings per share for the current year.

In related news, Director Winston J. Churchill sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $11.36, for a total transaction of $681,600.00. Following the transaction, the director now directly owns 48,776 shares of the company’s stock, valued at approximately $554,095.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 57.90% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of AMKR. Quantitative Systematic Strategies LLC acquired a new position in shares of Amkor Technology during the 4th quarter worth approximately $107,000. M&T Bank Corp acquired a new position in shares of Amkor Technology during the 4th quarter worth approximately $111,000. Regentatlantic Capital LLC acquired a new position in shares of Amkor Technology during the 4th quarter worth approximately $113,000. Xact Kapitalforvaltning AB acquired a new position in shares of Amkor Technology during the 4th quarter worth approximately $144,000. Finally, CAPROCK Group Inc. acquired a new position in shares of Amkor Technology during the 4th quarter worth approximately $148,000. 40.21% of the stock is currently owned by institutional investors and hedge funds.

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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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