JPMorgan Chase & Co. Cuts Amkor Technology (NASDAQ:AMKR) Price Target to $30.00

Amkor Technology (NASDAQ:AMKR) had its target price trimmed by JPMorgan Chase & Co. from $42.00 to $30.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the semiconductor company’s stock.

Other research analysts have also issued research reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price objective on shares of Amkor Technology in a research note on Tuesday. StockNews.com lowered shares of Amkor Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group dropped their price target on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. Melius Research lowered shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Finally, Melius lowered shares of Amkor Technology from a “buy” rating to a “hold” rating and dropped their price target for the stock from $34.00 to $30.00 in a research note on Monday, January 6th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.50.

Amkor Technology Stock Up 1.6 %

Amkor Technology stock opened at $22.19 on Tuesday. The firm has a market cap of $5.47 billion, a PE ratio of 14.99 and a beta of 1.81. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.84 and a current ratio of 2.06. The firm’s 50 day moving average price is $25.45 and its two-hundred day moving average price is $28.11. Amkor Technology has a twelve month low of $21.46 and a twelve month high of $44.86.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. Amkor Technology had a net margin of 5.68% and a return on equity of 8.98%. On average, research analysts predict that Amkor Technology will post 1.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AMKR. SBI Securities Co. Ltd. bought a new position in Amkor Technology in the 4th quarter worth $27,000. Jones Financial Companies Lllp raised its holdings in Amkor Technology by 353.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,488 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 1,160 shares during the period. Capital Performance Advisors LLP bought a new position in Amkor Technology in the 3rd quarter worth $39,000. Bessemer Group Inc. increased its holdings in shares of Amkor Technology by 421.0% during the 4th quarter. Bessemer Group Inc. now owns 1,537 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 1,242 shares during the period. Finally, Hurley Capital LLC bought a new position in shares of Amkor Technology during the 4th quarter worth about $43,000. Institutional investors own 42.76% of the company’s stock.

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.