Morgan Stanley Issues Pessimistic Forecast for Amkor Technology (NASDAQ:AMKR) Stock Price

Amkor Technology (NASDAQ:AMKR) had its price target cut by Morgan Stanley from $24.00 to $19.00 in a report published on Tuesday,Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

Other research analysts also recently issued reports about the stock. Needham & Company LLC dropped their target price on shares of Amkor Technology from $34.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday. KeyCorp reiterated a “sector weight” rating on shares of Amkor Technology in a research report on Thursday, April 17th. B. Riley cut Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 21st. JPMorgan Chase & Co. cut their price target on Amkor Technology from $42.00 to $30.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Finally, DA Davidson cut their target price on shares of Amkor Technology from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $28.00.

Amkor Technology Price Performance

Shares of AMKR opened at $17.02 on Tuesday. The company has a current ratio of 2.11, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The firm’s fifty day simple moving average is $18.43 and its 200-day simple moving average is $23.46. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of 11.90 and a beta of 1.88. Amkor Technology has a twelve month low of $14.03 and a twelve month high of $44.86.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings data on Monday, April 28th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Amkor Technology had a return on equity of 8.59% and a net margin of 5.60%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the firm posted $0.24 EPS. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities analysts forecast that Amkor Technology will post 1.47 EPS for the current fiscal year.

Amkor Technology Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Thursday, March 13th were given a $0.0827 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.33 dividend on an annualized basis and a yield of 1.94%. Amkor Technology’s payout ratio is currently 23.08%.

Insiders Place Their Bets

In related news, major shareholder Agnes C. Kim sold 869,565 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $21.85, for a total transaction of $18,999,995.25. Following the transaction, the insider now owns 10,020,870 shares of the company’s stock, valued at $218,956,009.50. This represents a 7.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kevin Engel sold 5,489 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 1,388 shares in the company, valued at $30,105.72. The trade was 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.

Institutional Investors Weigh In On Amkor Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC increased its position in shares of Amkor Technology by 99.5% in the third quarter. Barclays PLC now owns 405,400 shares of the semiconductor company’s stock valued at $12,406,000 after buying an additional 202,218 shares in the last quarter. Retirement Systems of Alabama grew its stake in Amkor Technology by 7.9% in the 3rd quarter. Retirement Systems of Alabama now owns 137,679 shares of the semiconductor company’s stock valued at $4,213,000 after acquiring an additional 10,069 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Amkor Technology by 212.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,361,084 shares of the semiconductor company’s stock valued at $41,647,000 after acquiring an additional 925,644 shares in the last quarter. Covea Finance lifted its holdings in shares of Amkor Technology by 47.1% in the fourth quarter. Covea Finance now owns 62,500 shares of the semiconductor company’s stock valued at $1,606,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in shares of Amkor Technology by 34.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 8,862 shares of the semiconductor company’s stock valued at $228,000 after purchasing an additional 2,255 shares during the last quarter. 42.76% of the stock is currently owned by institutional investors and hedge funds.

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.