Amkor Technology (NASDAQ:AMKR) Price Target Cut to $42.00

Amkor Technology (NASDAQ:AMKR) had its price target decreased by research analysts at JPMorgan Chase & Co. from $48.00 to $42.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 56.77% from the company’s previous close.

AMKR has been the topic of a number of other research reports. StockNews.com raised shares of Amkor Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Morgan Stanley dropped their price target on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Tuesday. KeyCorp dropped their price target on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Needham & Company LLC dropped their price target on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.63.

Amkor Technology Stock Performance

AMKR traded down $2.74 during trading on Tuesday, reaching $26.79. 1,938,324 shares of the company’s stock were exchanged, compared to its average volume of 1,306,643. Amkor Technology has a 1 year low of $17.58 and a 1 year high of $44.86. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.08 and a quick ratio of 1.83. The stock has a market capitalization of $6.58 billion, a P/E ratio of 17.69 and a beta of 1.84. The company’s fifty day simple moving average is $30.71 and its 200-day simple moving average is $33.30.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. Amkor Technology had a return on equity of 9.41% and a net margin of 5.87%. Amkor Technology’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 EPS. As a group, research analysts predict that Amkor Technology will post 1.55 earnings per share for the current fiscal year.

Insider Activity at Amkor Technology

In related news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total value of $315,100.00. Following the sale, the chief executive officer now directly owns 204,971 shares in the company, valued at approximately $6,458,636.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Amkor Technology news, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total transaction of $315,100.00. Following the sale, the chief executive officer now directly owns 204,971 shares in the company, valued at $6,458,636.21. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Winston J. Churchill sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total transaction of $659,400.00. Following the sale, the director now owns 19,871 shares in the company, valued at $655,146.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 31.40% of the stock is owned by insiders.

Institutional Trading of Amkor Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. Driehaus Capital Management LLC acquired a new position in shares of Amkor Technology during the second quarter worth about $58,379,000. Ceredex Value Advisors LLC acquired a new position in shares of Amkor Technology during the third quarter worth about $42,610,000. Millennium Management LLC grew its position in shares of Amkor Technology by 359.7% during the second quarter. Millennium Management LLC now owns 1,360,292 shares of the semiconductor company’s stock worth $54,439,000 after buying an additional 1,064,404 shares in the last quarter. American Century Companies Inc. grew its position in shares of Amkor Technology by 54.4% during the second quarter. American Century Companies Inc. now owns 1,673,314 shares of the semiconductor company’s stock worth $66,966,000 after buying an additional 589,530 shares in the last quarter. Finally, M&G Plc acquired a new position in shares of Amkor Technology during the first quarter worth about $11,435,000. 42.76% of the stock is currently 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, Japan, Europe, the Middle East, Africa, and the Asia Pacific. It offers turnkey packaging and test services, including semiconductor wafer bump, wafer probe, wafer back-grind, package design, packaging, system-level and final test, and drop shipment services; flip chip scale package products for smartphones, tablets, and other mobile consumer electronic devices; flip chip stacked chip scale packages that are used to stack memory digital baseband, and as applications processors in mobile devices; flip-chip ball grid array packages for various networking, storage, computing, automotive, and consumer applications; and memory products for system memory or platform data storage.