Amkor Technology (NASDAQ:AMKR) Stock Price Down 5.5%

Shares of Amkor Technology, Inc. (NASDAQ:AMKR) were down 5.5% on Friday . The company traded as low as $6.81 and last traded at $6.86. Approximately 920,379 shares changed hands during trading, a decline of 6% from the average daily volume of 975,650 shares. The stock had previously closed at $7.26.

A number of analysts have recently weighed in on AMKR shares. BidaskClub downgraded shares of Amkor Technology from a “buy” rating to a “hold” rating in a research report on Thursday, February 28th. Zacks Investment Research raised shares of Amkor Technology from a “hold” rating to a “strong-buy” rating and set a $9.25 price target for the company in a research report on Tuesday, May 7th. ValuEngine raised shares of Amkor Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Finally, TheStreet downgraded shares of Amkor Technology from a “b-” rating to a “c” rating in a research report on Wednesday, May 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $7.75.

The firm has a market capitalization of $1.64 billion, a P/E ratio of 14.91 and a beta of 2.02. The company has a current ratio of 1.36, a quick ratio of 1.21 and a debt-to-equity ratio of 0.70.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.06. The firm had revenue of $895.00 million during the quarter, compared to the consensus estimate of $883.32 million. Amkor Technology had a net margin of 2.26% and a return on equity of 6.03%. The firm’s revenue was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.04 earnings per share. As a group, research analysts predict that Amkor Technology, Inc. will post 0.19 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. M&T Bank Corp acquired a new position in Amkor Technology in the fourth quarter worth $72,000. NumerixS Investment Technologies Inc boosted its holdings in Amkor Technology by 81.0% in the fourth quarter. NumerixS Investment Technologies Inc now owns 11,400 shares of the semiconductor company’s stock worth $74,000 after purchasing an additional 5,100 shares during the period. Blueshift Asset Management LLC acquired a new position in Amkor Technology in the fourth quarter worth $92,000. Quantamental Technologies LLC boosted its holdings in Amkor Technology by 57.0% in the first quarter. Quantamental Technologies LLC now owns 11,462 shares of the semiconductor company’s stock worth $98,000 after purchasing an additional 4,163 shares during the period. Finally, Stone Ridge Asset Management LLC acquired a new position in Amkor Technology in the fourth quarter worth $107,000. 38.13% of the stock is owned by hedge funds and other institutional investors.

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About Amkor Technology (NASDAQ:AMKR)

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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