DA Davidson Has Lowered Expectations for Amkor Technology (NASDAQ:AMKR) Stock Price

Amkor Technology (NASDAQ:AMKR) had its target price reduced by stock analysts at DA Davidson from $36.00 to $30.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. DA Davidson’s price target suggests a potential upside of 71.62% from the stock’s previous close.

AMKR has been the subject of a number of other research reports. Morgan Stanley decreased their price objective on shares of Amkor Technology from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. KeyCorp reaffirmed a “sector weight” rating on shares of Amkor Technology in a report on Thursday, April 17th. B. Riley lowered Amkor Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, April 21st. Needham & Company LLC cut their price objective on Amkor Technology from $34.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Melius lowered Amkor Technology from a “buy” rating to a “hold” rating and decreased their target price for the company from $34.00 to $30.00 in a research report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $29.25.

Amkor Technology Stock Down 0.4 %

Amkor Technology stock opened at $17.48 on Tuesday. Amkor Technology has a 52 week low of $14.03 and a 52 week high of $44.86. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 12.22 and a beta of 1.88. The business’s 50-day moving average price is $18.55 and its 200 day moving average price is $23.51. The company has a quick ratio of 1.90, a current ratio of 2.11 and a debt-to-equity ratio of 0.22.

Amkor Technology (NASDAQ:AMKR) last issued its quarterly earnings data on Monday, April 28th. The semiconductor company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. Amkor Technology had a net margin of 5.60% and a return on equity of 8.59%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.28 billion. As a group, sell-side analysts anticipate that Amkor Technology will post 1.47 earnings per share for the current year.

Insider Buying and Selling at Amkor Technology

In related news, major shareholder Agnes C. Kim sold 869,565 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the completion of the sale, the insider now owns 10,020,870 shares of the company’s stock, valued at approximately $218,956,009.50. This represents a 7.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin Engel sold 5,489 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $21.69, for a total transaction of $119,056.41. Following the completion of the transaction, the executive vice president now directly owns 1,388 shares in the company, valued at $30,105.72. This trade represents a 79.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amkor Technology

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Amkor Technology by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company’s stock worth $402,414,000 after acquiring an additional 1,092,002 shares during the last quarter. First Trust Advisors LP raised its stake in Amkor Technology by 7.9% during the fourth quarter. First Trust Advisors LP now owns 4,778,790 shares of the semiconductor company’s stock worth $122,767,000 after purchasing an additional 350,809 shares during the period. Alliancebernstein L.P. boosted its holdings in Amkor Technology by 15.8% in the 4th quarter. Alliancebernstein L.P. now owns 4,081,481 shares of the semiconductor company’s stock valued at $104,853,000 after purchasing an additional 556,761 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Amkor Technology by 24.4% in the 4th quarter. American Century Companies Inc. now owns 2,709,002 shares of the semiconductor company’s stock valued at $69,594,000 after buying an additional 530,771 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Amkor Technology by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,109,507 shares of the semiconductor company’s stock worth $54,209,000 after buying an additional 15,211 shares during the last quarter. Hedge funds and other 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.