Amkor Technology (NASDAQ:AMKR) Price Target Lowered to $34.00 at Needham & Company LLC

Amkor Technology (NASDAQ:AMKR) had its price objective cut by stock analysts at Needham & Company LLC from $45.00 to $34.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 27.20% from the stock’s previous close.

Several other research analysts have also recently weighed in on AMKR. StockNews.com raised Amkor Technology from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. KeyCorp lowered their price objective on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. initiated coverage on shares of Amkor Technology in a research note on Monday, July 1st. They issued an “overweight” rating and a $48.00 price target on the stock. Finally, Morgan Stanley decreased their price objective on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating for the company in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.63.

Amkor Technology Price Performance

Shares of AMKR stock opened at $26.73 on Tuesday. Amkor Technology has a 52-week low of $17.58 and a 52-week high of $44.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.83 and a current ratio of 2.08. The stock has a market cap of $6.57 billion, a PE ratio of 17.59 and a beta of 1.84. The firm’s 50 day moving average price is $30.49 and its two-hundred day moving average price is $33.22.

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

Insider Activity

In other Amkor Technology news, Director Winston J. Churchill sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the sale, the director now directly owns 19,871 shares of the company’s stock, valued at $655,146.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 that occurred on Tuesday, October 15th. The stock was sold at an average price of $31.51, for a total transaction of $315,100.00. Following the completion of the sale, the chief executive officer now directly owns 204,971 shares of the company’s stock, valued at approximately $6,458,636.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Winston J. Churchill sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $32.97, for a total transaction of $659,400.00. Following the transaction, the director now directly owns 19,871 shares in the company, valued at $655,146.87. The trade was 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 corporate insiders.

Institutional Trading of Amkor Technology

Several hedge funds have recently added to or reduced their stakes in AMKR. Ceredex Value Advisors LLC purchased a new position in Amkor Technology in the third quarter valued at approximately $42,610,000. 1620 Investment Advisors Inc. boosted its position in Amkor Technology by 400.8% during the third quarter. 1620 Investment Advisors Inc. now owns 3,826 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 3,062 shares during the period. Pallas Capital Advisors LLC purchased a new position in shares of Amkor Technology in the third quarter worth about $209,000. State of Alaska Department of Revenue raised its position in shares of Amkor Technology by 0.9% in the third quarter. State of Alaska Department of Revenue now owns 200,332 shares of the semiconductor company’s stock valued at $6,129,000 after purchasing an additional 1,745 shares during the period. Finally, GHP Investment Advisors Inc. boosted its holdings in Amkor Technology by 5.6% in the 3rd quarter. GHP Investment Advisors Inc. now owns 95,001 shares of the semiconductor company’s stock worth $2,907,000 after buying an additional 5,015 shares during the period. Institutional investors own 42.76% of the company’s stock.

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.