DA Davidson Lowers Amkor Technology (NASDAQ:AMKR) Price Target to $36.00

Amkor Technology (NASDAQ:AMKR) had its price target decreased by equities research analysts at DA Davidson from $40.00 to $36.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. DA Davidson’s target price suggests a potential upside of 34.68% from the company’s current price. DA Davidson also issued estimates for Amkor Technology’s Q4 2024 earnings at $0.38 EPS, FY2024 earnings at $1.38 EPS and FY2025 earnings at $2.00 EPS.

A number of other research analysts have also recently weighed in on the stock. Needham & Company LLC lowered their target price 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. Morgan Stanley lowered their price objective on Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Tuesday. The Goldman Sachs Group dropped their price objective on Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday. KeyCorp decreased their target price on Amkor Technology from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, StockNews.com upgraded Amkor Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.63.

Amkor Technology Stock Down 4.5 %

NASDAQ AMKR 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 quick ratio of 1.83, a current ratio of 2.08 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $6.57 billion, a P/E ratio of 17.59 and a beta of 1.84. The stock’s 50-day moving average price is $30.49 and its 200-day moving average price is $33.22.

Amkor Technology (NASDAQ:AMKR) last released its earnings results 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 the consensus estimate 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 was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 EPS. On average, equities research analysts predict that Amkor Technology will post 1.55 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Amkor Technology

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC raised its holdings in Amkor Technology by 1.3% during the 2nd quarter. SG Americas Securities LLC now owns 23,694 shares of the semiconductor company’s stock valued at $948,000 after buying an additional 296 shares during the period. CWM LLC increased its position in Amkor Technology by 15.1% during the second quarter. CWM LLC now owns 2,359 shares of the semiconductor company’s stock valued at $94,000 after acquiring an additional 309 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Amkor Technology by 8.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,188 shares of the semiconductor company’s stock valued at $168,000 after acquiring an additional 333 shares during the period. Retirement Systems of Alabama boosted its stake in shares of Amkor Technology by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 129,621 shares of the semiconductor company’s stock worth $4,179,000 after purchasing an additional 344 shares during the period. Finally, Ritholtz Wealth Management grew its holdings in Amkor Technology by 1.7% during the 3rd quarter. Ritholtz Wealth Management now owns 21,717 shares of the semiconductor company’s stock valued at $665,000 after purchasing an additional 357 shares during the last quarter. 42.76% of the stock is owned by institutional investors.

About Amkor Technology

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.