Amkor Technology (NASDAQ:AMKR) Given New $24.00 Price Target at Morgan Stanley

Amkor Technology (NASDAQ:AMKR) had its target price trimmed by Morgan Stanley from $26.00 to $24.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the semiconductor company’s stock.

Several other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Amkor Technology from $48.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Melius Research cut Amkor Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Needham & Company LLC lowered their price objective on Amkor Technology from $45.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Melius lowered Amkor Technology from a “buy” rating to a “hold” rating and cut their target price for the company from $34.00 to $30.00 in a research report on Monday, January 6th. Finally, The Goldman Sachs Group decreased their price target on shares of Amkor Technology from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Amkor Technology has a consensus rating of “Hold” and an average target price of $31.50.

Amkor Technology Trading Down 11.4 %

Shares of AMKR opened at $21.59 on Tuesday. Amkor Technology has a 12 month low of $21.59 and a 12 month high of $44.86. The stock’s 50-day moving average is $25.62 and its two-hundred day moving average is $28.20. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.06 and a quick ratio of 1.84. The stock has a market cap of $5.32 billion, a PE ratio of 14.59 and a beta of 1.81.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Amkor Technology had a return on equity of 8.98% and a net margin of 5.68%. Equities analysts forecast that Amkor Technology will post 1.38 earnings per share for the current fiscal year.

Institutional Trading of Amkor Technology

A number of institutional investors and hedge funds have recently modified their holdings of AMKR. Pacer Advisors Inc. boosted its holdings in shares of Amkor Technology by 24,383.3% in the 3rd quarter. Pacer Advisors Inc. now owns 3,787,565 shares of the semiconductor company’s stock valued at $115,899,000 after buying an additional 3,772,095 shares during the period. Ceredex Value Advisors LLC bought a new position in Amkor Technology in the third quarter worth about $42,610,000. Vanguard Group Inc. boosted its stake in Amkor Technology by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 15,664,226 shares of the semiconductor company’s stock valued at $402,414,000 after acquiring an additional 1,092,002 shares during the period. Wellington Management Group LLP grew its holdings in shares of Amkor Technology by 522.0% during the third quarter. Wellington Management Group LLP now owns 1,134,106 shares of the semiconductor company’s stock valued at $34,704,000 after purchasing an additional 951,764 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of 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 worth $41,647,000 after purchasing an additional 925,644 shares during the period. 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.