Amkor Technology (NASDAQ:AMKR) PT Lowered to $32.00

Amkor Technology (NASDAQ:AMKR) had its price target decreased by The Goldman Sachs Group from $36.00 to $32.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 16.66% from the stock’s current price.

A number of other equities research analysts also recently weighed in on AMKR. JPMorgan Chase & Co. cut their target price on Amkor Technology from $48.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday. StockNews.com raised Amkor Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Morgan Stanley dropped their price target on shares of Amkor Technology from $35.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Tuesday. KeyCorp reduced their price objective on shares of Amkor Technology from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Needham & Company LLC cut their target price on shares of Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $36.13.

Amkor Technology Stock Performance

Amkor Technology stock traded down $2.10 during mid-day trading on Tuesday, hitting $27.43. 2,563,928 shares of the company’s stock traded hands, compared to its average volume of 1,309,636. The company has a quick ratio of 1.83, a current ratio of 2.08 and a debt-to-equity ratio of 0.23. Amkor Technology has a one year low of $17.58 and a one year high of $44.86. The firm has a 50 day moving average price of $30.71 and a 200 day moving average price of $33.30. The company has a market cap of $6.74 billion, a PE ratio of 18.05 and a beta of 1.84.

Amkor Technology (NASDAQ:AMKR) last posted its quarterly earnings data 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). The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. Amkor Technology had a return on equity of 9.41% and a net margin of 5.87%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 EPS. On average, equities analysts forecast that Amkor Technology will post 1.55 EPS for the current year.

Insider Buying and Selling

In other Amkor Technology 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Amkor Technology news, Director Winston J. Churchill sold 20,000 shares of Amkor Technology stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $32.97, for a total transaction of $659,400.00. Following the transaction, the director now 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 is available through this hyperlink. Also, CEO Guillaume Marie Jean Rutten sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $31.51, for a total value of $315,100.00. Following the completion of the transaction, the chief executive officer now owns 204,971 shares in the company, valued at $6,458,636.21. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 31.40% of the company’s stock.

Hedge Funds Weigh In On Amkor Technology

A number of hedge funds have recently modified their holdings of the stock. Ceredex Value Advisors LLC purchased a new position in Amkor Technology in the third quarter valued at about $42,610,000. 1620 Investment Advisors Inc. increased its holdings in Amkor Technology by 400.8% in the third quarter. 1620 Investment Advisors Inc. now owns 3,826 shares of the semiconductor company’s stock worth $117,000 after buying an additional 3,062 shares during the last quarter. Pallas Capital Advisors LLC bought a new position in Amkor Technology during the third quarter valued at approximately $209,000. State of Alaska Department of Revenue lifted its stake in 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 acquiring an additional 1,745 shares during the last quarter. Finally, GHP Investment Advisors Inc. increased its stake in shares of Amkor Technology by 5.6% during the 3rd quarter. GHP Investment Advisors Inc. now owns 95,001 shares of the semiconductor company’s stock worth $2,907,000 after purchasing an additional 5,015 shares during the last quarter. 42.76% of the stock is owned by institutional investors and hedge funds.

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.